Business

What is Click and Mortar? A click-and-mortar business model combines both online and offline operations, typically featuring a website alongside a physical store. This approach allows companies to provide the convenience of online transactions while maintaining in-person customer service, making…

What is a Sales Funnel? A sales funnel illustrates the customer journey from awareness to purchase, with each step reflecting a stronger connection to the brand. Its structure is crucial, guiding prospects through tailored stages to become customers. A well-designed…

What is Inventory Management? Inventory management involves overseeing the entire lifecycle of a company's inventory, which encompasses ordering, storing, using, and selling raw materials, components, and finished products. It also covers warehousing and processing. Effective inventory management aims to optimise…

What is Liquidity?  Liquidity refers to how easily an asset or security can be converted into cash without significantly impacting its market price. Cash is the most liquid asset because it is already in its most convertible form. Thus, the…

What is Human Resource Planning (HRP)? Human Resource Planning (HRP) is a strategic and ongoing process aimed at optimising the use of an organisation's most valuable asset — its employees. By ensuring the right fit between employees and jobs, HRP…

What is a Bill of Lading? A bill of lading (BL or BoL) is a legal document issued by a transportation company to a shipper, specifying the type, quantity, and destination of the goods. It also serves as a receipt…

What are Inside Sales? Inside sales involve selling products or services through phone, email, or online platforms. This approach is also known as "remote sales" or "virtual sales" because it typically happens indoors, often within a call centre or company…

What are Outside Sales? Outside sales involve selling products or services through sales personnel who physically go into the field to engage with prospective customers. These professionals often operate autonomously, without the constraints of a formal office setting or team…

What is Adverse Selection? Adverse selection occurs when one party in a transaction has information that the other party does not have, which can then be exploited. This scenario of asymmetric information, also known as information failure, typically involves one…

What is an Arm's Length Transaction? An arm's length transaction refers to a business deal where buyers and sellers act independently without influencing each other. These transactions ensure that both parties act in their own self-interest and are free from…