Concepts of Marketing

Many people confuse the word marketing with selling and advertising. The reason is that there is widespread advertisement now days in the form of newspaper ads, TV commercials, direct-mail campaigns, sales calls etc. But actually marketing and advertising are only two...

What is Psychology?

Psychology can be defined as the science of activities of the individual. The science of human behavior is actually a group of sciences. On one side we find the physiology investigating the organs and cells that do the work of the organism and on the other hand we see...

LIFO – Last In First Out

The belief in LIFO costing method is based on the assumption that material issued to manufacturing department should carry the cost of most recent purchase, although the physical flow of material inventory may actually be different. It assumes that the most recent...

History of Psychology

Psychology can be defined as the ‘study of mind and body’. The ancient man regarded ‘soul’ as something that was invisible and resided inside a person. He had his own explanations for the behavior of the soul and the body e.g. the soul escaped from the body when the...

Social Psychology

Social psychology is the scientific study of how people think, influence, and relate to one another. It is a comparatively younger discipline than the other disciplines of psychology – it is surprisingly a discipline that overlaps with other sub-disciplines of...

Five Marketing Management Philosophies

There are different concepts that guide sellers to conduct their marketing activities. For example sellers can only focus on production and try to reduce their cost of production, or focus on improving the quality of product. Similarly they can pay more attention to...

Bond Valuation

A bond is a long-term debt instrument used by governments, corporations, and firms to raise debt financing. Most of the bonds have following three attributes generally. • Pay interest annually, semiannually, or quarterly • They have defined maturity period • They have...

Amortization

To capitalize upon the opportunities belonging to over the years the companies often fulfill funding requirements through long term debts from banks or financial institutions. These long-standing loans are repaid in yearly installments usually. Annual installments...

What is Organizational Culture?

Organizational culture is a system of shared value and beliefs held by organizational members that unite the members of an organization and determine how they act. Culture indicates a common perception held by the members of an organization and it governs how its...

Types of Plan

A plan is a specific action proposed to help the organization achieve its objectives. It is a document that outlines how goals are going to be met. The importance of developing plans is evident from the fact that there may be more than one means of reaching a...