Business

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…

What is Market Access? Market access refers to the capacity of a company or country to sell its goods and services in foreign markets. While it can also apply to domestic trade, it is most commonly discussed in the context…

What is the Breakeven Point (BEP)? In corporate accounting, the breakeven point (BEP) is when a company's operations transition from being unprofitable to profitable. This point is reached when total revenues for a product equal total expenses. The breakeven point…

What is Turnover? Turnover measures how quickly a company replaces its assets within a specific period, encompassing activities such as selling inventory, collecting receivables, or replacing employees. In investment terms, it refers to the percentage of a portfolio that is…

What is Brinkmanship? Brinkmanship is a negotiating technique in which one party aggressively pursues specific terms, compelling the other party to either agree or withdraw from the negotiation. Brinkmanship, also known as "brinkpersonship" or less commonly "brinksmanship," gets its name…