BUSINESS ESSENTIALS

Fragmentation Fragmentation is a phenomenon that occurs when a data structure is divided into smaller fragments, which are not contiguous in memory. This can lead to a number of problems, including: 1. Inefficient memory usage: Fragmentation can cause the system to use more memory than is necessary for the data structure, as the fragments are […]

Pro bono means “free of charge” in Latin. It refers to legal services provided without payment by attorneys to individuals or organizations who are unable to afford them. Pro bono services typically include: Legal advice: Providing legal advice on a variety of topics, such as family law, civil law, and immigration law. Representation: Representing clients […]

Quality Control (QC) Quality control (QC) is a set of activities designed to ensure that products or services meet customer expectations and are of acceptable quality. It involves a variety of techniques and methodologies to prevent defects and ensure consistency. Key Elements of Quality Control: 1. Design Review: Reviewing the design of a product or […]

Organizational Structure Organizational structure refers to the framework and arrangement of personnel and departments within an organization. It defines how the organization is divided into functional units, how authority is delegated, and how decision-making processes are implemented. The structure determines how the organization functions and interacts with its environment. Types of Organizational Structures: 1. Hierarchical […]

Incoterms (International Commercial Terms) are internationally recognized rules for the interpretation of international sales contracts. They provide a uniform set of rules for determining the responsibilities of buyers and sellers for various aspects of the transaction, including: 1. Delivery and Risk Transfer: Ex-works: The seller’s responsibility ends at the point of loading the goods onto […]

Definition: Broadband refers to high-speed internet services that provide speeds of at least 25 megabytes per second (Mbps) for download and 15 Mbps for upload. It is typically delivered through fiber optic cables, coaxial cables, or wireless technologies. Key Features: High Speed: Broadband offers much faster internet speeds compared to traditional dial-up or DSL connections. […]

Definition: A holding company is a company that owns and controls other companies, known as subsidiaries, as part of a corporate structure. The holding company does not engage in direct operations but rather provides financial and strategic support to its subsidiaries. Key Features: Parent-Subsidiary Structure: Holding companies are the parent company, and subsidiaries are the […]

Definition: Customer service is the process of providing support and assistance to customers in their interactions with a company. It encompasses a wide range of activities, including: Response to inquiries and complaints: Addressing customer concerns and resolving issues in a timely and satisfactory manner. Account management: Maintaining customer accounts, providing account updates, and managing customer […]

Consignment is a type of sale where a seller consigns items to a third party, known as a consigner. The consigner then sells the items on behalf of the seller, but only for a commission. Here are the key points about consignment: Seller does not own the items: The seller does not own the items […]

Business-to-Consumer (B2C) Introduction B2C stands for business-to-consumer, which refers to the interaction between businesses and individual consumers. Unlike business-to-business (B2B) interactions that focus on exchanging goods and services between businesses, B2C focuses on providing products and services directly to consumers. Key Differences: Customers: In B2C, customers are individual people, not other businesses. Focus: B2C focuses […]