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Definition of Accounting by Different Authors | 10 Definitions of Accounting
Accounting is the study of all the financial activities of a person or organization that can be properly recorded in the book of accounts, and its exact result can be determined at the end of a certain period. Accounting discusses the methods of recording, classifying, and interpreting financial transactions of a business. As a result,…
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Definition of Management by Different Authors
Management is the process of planning and organizing a business resource and activities to achieve the goals of an organization. It is a process that achieves the goals of an organization through planning, organizing, staffing, leadership, control. The Father of the principles of management is Henry Fayol. He was born in Istanbul, Turkey. He later moved…
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Definition of Strategy by Different Authors | Best Definition of Strategy
Strategy is an action plan for achieving the desired short, medium, and long-term goals. It refers to the overall business plan of the business to reach the potential customers of the product or service and to turn the potential customers into permanent customers. Steps in the strategy formulation process: Determining the objectives of the organization…
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Definition of Globalization by Different Authors
Globalization comes from the globe and means the worldwide coming together of countries and nations. Thus, globalization is an international process driven by trade, investment, technology, and finance. This process has various effects on the environment, culture, the political system, economic development, prosperity, and physical well-being of people in societies around the earth. Globalization can…
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Definitions of Political Science by Different Authors
Political science is a social science that analyzes the system of government and power and political activity, political thought, political behavior, and the relevant constitution and law. It is a very complex science that involves many fields economics Sociology Religion Psychology Anthropology And many other fields. Definitions of Political Science by Different Authors Gettel states…
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Definition of Science by Different Authors
Science is the knowledge that is acquired through experimentation and systematic knowledge. There are many fields of science. Astronomy, Physics, Chemistry, Social Sciences, Natural Sciences and many more. Science is the process of enriching human knowledge by revealing the rules of how nature and the universe work, how they operate spontaneously. Definition of Science by…
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Definition of Business Communication by Different Authors
Business communication is the process of exchanging ideas, opinions, and information within and outside the business environment to achieve business goals. Definition of Business Communication by Different Authors: In the opinion of W. H. Newman and C. F. Summer: “Communication is an exchange of facts, ideas, opinions or emotions by two or more persons.” According…
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Definition of Business by Different Authors | Business Definition by Experts
In a normal sense, Business is all legitimate economic activity, including production and distribution, for the purpose of making a profit. Business is related to an equation which is as follows: B = ΣI+ ΣT + ΣAT Where, ΣI = Industry (Related to production) ΣT = Trade (Distribution of products) ΣAT = Auxiliaries to trade…
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Definition of Total Quality Management by Different Authors
Definition of Total Quality Management by Different Authors: Atkinson defines “TQM is a strategic approach to produce the best product and service possible through constant innovation.” According to Besterfield (1995) “QM as both a philosophy and a set of guiding principles that represent the foundation of a continuously improving organization. It integrates fundamental management techniques,…
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Definition of Bank by Different Authors
Definition of Bank by Different Authors: W Hock states, “Bank is such an institution which creates money by money only.” According to Jhon Harry “Bank is an economic institution whose main aim is to earn profit through exchange of money and credit instrument” R P Kent defined, “Bank is a financial institution which acts as…
