Types of Accounting Costs
Types of costs Direct cost Direct cost is the Cost that is directly related to the activities of producing goods or services. The direct cost …
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Theory of Comparative Advantage
Theory of Comparative Advantage David Ricardo the British economist introduced the theory of comparative advantage in 1817. This theory belongs to international trade and describes …
Opportunity Cost
Opportunity cost Opportunity cost is the cost of forgoing another alternative that has not been selected but could be. It represent the value of another …
Social Loafing a social phycology
Social Loafing Social loafing belongs to the social psychology that indicates the behaviour of employees or performance of employees is reduced when they work in …
Job Evaluation Methods
Job evaluation Job evaluation is a systematic method of measuring the job value to determine the value of each job to finalize the salary, incentives, …
Behaviorally anchored rating scale
Behaviorally anchored rating scale A behaviourally anchored rating scale is the performance appraisal method or tool used to measure performance by using the predefined standard …
360 degree appraisal
360-degree appraisal Performance appraisal by the 360-degree method describes the evaluation of performance from many perspectives so that every aspect of performance is studied properly. …
Performance Appraisal
Performance Appraisal Performance appraisal implemented by the organization always aims to maintain the potential human resources that should be capable of achieving the organizational goal. …
VRIO-Value Rare Inimitability
VRIO( Valuable Rare Inimitable Organization) VRIO is the business analysis framework Specifically the internal business analysis framework which deals with analyzing the internal resources and …
Marginal Utility
Marginal Utility Change in the utility after consuming the additional unit of a product or services is known as marginal utility. Utility can be measurable …