A bill of lading (B/L) or (BOL) is an essential document when transporting cargo or freight from one place to another. It is meant to act as a transport document and evidence of a contract for the movement of goods. There are various types of bill lading which can be classified based on different criteria …
Communication is important for business success and has become a critical element of the modern business environment. In order to communicate effectively one’s message or information has to be complete, concrete, correct, courteous, clear, considerate and concise. These are the 7 C’s of effective communication and they represent a requirement that a message should meet …
Time management techniques are essential for business and the management of any project. Time is an important resource and its management is critical in order to achieve the goals of a project. Time pressures have become commonplace and people struggle desperately to cope with time and the demands pressed on them. Thus, the techniques of …
There are various ways in which an organisation employs people to fill a position. These sources of recruitment can be internal (present employees, referrals and previous applicants) or external (advertisements, campus recruitment and E-recruitment). The main aim is to locate sources of skills and/or experience in order to meet job requirements and job specifications. The …
In order to maximise output, increase profits or to remain competitive, firms must continually look out for ways to maximise efficiency. One of the ways in which organisations can increase efficiency is through line balancing. Line balancing ensures that workers and machinery work together in a balanced way. That way no worker or machine is …
Private sector banks play a significant role in the financial system. They intermediate between all sectors of the economy together with other financial institutions, with some banks providing the payment system we use. Banks are the only intermediaries that come in between all ultimate borrowers and lenders as well as other non-bank financial institutions. They …
Decision making techniques lead organisations in the right direction when making critical decisions or planning for the future. Generally, decision making is an essential part of life. There are various approaches to decision making that apply to different kinds of situations. Below are the major financial decision-making techniques and general decision-making techniques that organisations can …
This article will explain the various scaling techniques. What are Scaling Techniques Scaling techniques are levels of measurements that are used by businesses to assess customer satisfaction, preferences and other aspects of the sales process. Organisations use polls, surveys, and questionnaires to conduct market research in order to determine how customers feel about their product …
What is a Warehouse A warehouse is a planned space for the efficient storage and handling of goods before distribution. They bridge the gap between production and consumption (or distribution to customers). Raw materials, unfinished or finished goods can be stored in warehouses. They are used by manufactures, importers, exporters and wholesalers among other users. …
When two or more people come together to form a business or company, they are called business partners. Partners can contribute capital or take part in the management of the organisation resulting in the various kinds of partners. All business partners do not necessarily participate in the work and share in the profits or liabilities …
