Marginal cost is the additional cost a business incurs when it produces one more unit of a good or service. In simpler terms, it represents the cost of making an extra item.
Read More
Join us on this journey as we navigate through the 6 primary structures of markets: Perfect Competition, Monopolistic Competition, Oligopoly, Monopoly, Monopsony, and Oligopsony. There are two more types we will also discuss. We’ll uncover the defining characteristics of each market type, explore real-world examples, and discuss the implications these structures have on businesses, consumers, and society as a whole.
Read More
The concept of an organization refers to a structured and coordinated group of individuals or entities working together to achieve common goals or objectives. It involves the division of labour, delegation of responsibilities, and establishment of hierarchies to ensure effective functioning and efficient use of resources.
Read More
Managerial accounting is the process of analyzing financial data and generating relevant information to support internal decision-making within an organization.
Read More
Customer relationship management (CRM) is a strategy that organizations use to manage interactions with customers and potential customers. CRM helps organizations streamline processes, build customer relationships, increase sales, improve customer service, and increase profitability.
Read More
Relationship management refers to the strategies, practices, and activities employed to build and maintain strong and mutually beneficial relationships with customers, clients, partners, suppliers, and other stakeholders. It involves managing interactions, communications, and collaborations to nurture and enhance relationships for long-term success.
Read More
Managerial Economics can be defined as the branch of economics which deals with the application of various concepts, theories, and methodologies of economics to solve practical problems in business management.
Read More
Operations research (OR) is a field of applied mathematics, engineering, and management science that deals with the application of advanced
Read More
A Management Information System (MIS) refers to a computer-based system that collects, processes, stores, and distribute information to support decision-making, coordination, control, analysis, and visualization within an organization. It is a crucial component of modern businesses and is designed to provide managers and other stakeholders with timely and relevant information for effective planning and decision-making.
Read More
A Social Impact Bond (SIB), also known as a Pay-for-Success contract, is a form of outcome-based contract between a government
Read More