Company

Also referred to as a firm, a company is a type of for-profit organization that consists of people who have come together for a common commercial undertaking. A company is a separate legal entity, which means it’s different from its owners. It could be a corporation, limited liability partnership (LLP), statutory corporation, chartered company, unlimited […]

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Cost Center

A cost center is a department in an organization that doesn’t bring in any (direct) revenue for the firm, but does incur costs. The unit helps enhance the firm’s revenue-earning potential or supports revenue-generating departments. For example, the R&D (research and development) team doesn’t directly contribute to revenue, but lays the foundation for innovative and enhanced […]

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Colocation (Project Management)

Colocation is a business practice wherein individuals from different departments, regions, functions, etc. are positioned strategically (usually at a particular location) to work on a project. This facilitates better and faster communication, helps form closer and better working relationships between employees, negates time zone-related delays, and boosts productivity. Such arrangements are usually temporary and cease […]

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Employee Handbook

An employee handbook, also called staff handbook or employee manual, is a tool of formal and indirect communication between a company and its employees. It’s pretty much a company Bible. The handbook lists out its expectations from its workforce and what the staff can expect from the management. Typically, an employee receives the handbook on the […]

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Bypass Attack

Also called leap frog strategy, a bypass attack is a business strategy that entails a company ignoring a competitor’s offensive moves and instead choosing to improve or expand its business. In other words, the firm disregards competitor attempts to destabilize its market position and channelizes its efforts to further enhance its market position. This may entail diversification of existing […]

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