Return on investment (ROI) is a financial ratio that measures the benefit an investor will receive in relation to their investment cost. It is most commonly measured as net income divided by the original capital cost of the investment. The higher the ratio, the greater the benefit earned. ROI can be used to evaluate the…
Category: Definitions
Most common business terminologies
Talent management
Talent management is a strategic approach to attracting, developing, and retaining the best talent for an organization. It involves a variety of activities, such as: Talent management is important for a number of reasons. First, it can help organizations to achieve their goals. When organizations have the right people in the right roles, they are…
Diversity and inclusion
Diversity and inclusion are two important concepts that are often used interchangeably, but they have distinct meanings. Diversity refers to the variety of people in a group, while inclusion refers to the extent to which those people feel valued and respected. A diverse workforce is one that includes people from different backgrounds, such as different…
Workforce
A workforce is a group of people who work together to achieve a common goal. The workforce of the future will be different from the workforce of today in many ways. Here are some of the key trends that are shaping the future of the workforce: The future of the workforce is uncertain, but there…
Robotics
Robotics is an interdisciplinary branch of computer science and engineering. Robotics involves the design, construction, operation, and use of robots. The goal of robotics is to design machines that can help and assist humans. Robotics integrates fields of mechanical engineering, electrical engineering, information engineering, mechatronics engineering, electronics, biomedical engineering, computer engineering, control systems engineering, software…
Internet of Things (IoT)
The Internet of Things (IoT) is a term that describes the network of physical objects that are embedded with sensors, software, and other technologies that enable them to connect and exchange data with other devices and systems over the internet or other communication networks1. The Internet of Things can be used for various purposes, such as…
Artificial intelligence (AI)
Artificial intelligence (AI) is a branch of computer science that deals with the creation of intelligent agents, which are systems that can reason, learn, and act autonomously. AI research has been highly successful in developing effective techniques for solving a wide range of problems, from game playing to medical diagnosis. There are many different approaches…
Technology
Technology is a term that refers to the application of scientific knowledge to the practical aims of human life or, as it is sometimes phrased, to the change and manipulation of the human environment. Technology can also mean the products resulting from such efforts, such as tools, machines, software, etc. Technology plays a critical role…
Mission statement
A mission statement is a short, concise statement that describes the purpose of a company. It should be clear, memorable, and easy to understand. A good mission statement should: Here are some examples of good mission statements: A mission statement is an important part of a company’s identity. It should be used to guide the…
Growth strategy
There are many different types of growth strategies that a business can use to grow its revenue and market share. Some common growth strategies include: The best growth strategy for a particular business will vary depending on the company’s industry, its size, and its goals. However, there are some general principles that can be applied…
Business model
A business model is a framework for how your company creates, delivers, and captures value. It describes the way your company makes money. There are many different types of business models, and the best type of business model for a particular company will vary depending on the company’s industry, its size, and its goals. However,…
Competitive analysis
Competitive analysis is the process of gathering and analyzing information about your competitors in order to identify their strengths and weaknesses, as well as their opportunities and threats. This information can be used to develop strategies that will help your business succeed. There are many different ways to conduct a competitive analysis. Some common methods…