What is the 30-60-90 Day Plan? The 30-60-90 day plan lays out the actions that an individual intends to take during their first three months on the job. Setting clear objectives and a vision for their skills in each phase of the plan, they make their transition to the new role smooth and easy. Putting…
What Does Cornering the Market Mean? Cornering the market is obtaining and holding/owning enough stocks, assets, or commodities to effectively control the market price of said items. It involves acquiring the biggest market share without becoming a monopoly. How It Works There are a number of ways to attempt market cornering. The most straightforward approach…
What is Product Differentiation? Product differentiation is the introduction of unique, distinctive characteristics or features to a product to ensure a USP (unique selling proposition) of the product. The differentiation enables a company to achieve a competitive advantage over other companies offering similar product substitutes. It is an essential marketing process that is of vital…
What is Empire Building? In general, empire building is the process that an individual or entity undertakes to broaden the scope of its influence and power. In the business world, empire building entails the comprehensive steps and actions that either an individual or company takes to expand their power and reach. It is done primarily…
What is Objectives and Key Results (OKR)? In today’s rapidly changing business environment, it is important for companies to have an effective approach in place to ensure their success. Objectives and Key Results (OKR) is one such approach that has gained acceptance in recent years due to its ability to drive managerial focus on achieving…
What is Novation? Novation refers to the process of substituting the original contract with a replacement contract, where the original party agrees to forgo any rights afforded to them by the original contract. In most novation agreements, the parties agree to extinguish the original contract and replace it with an entirely new contract. One of…
What is Numeraire? Numeraire is an economic term that refers to a unit of exchange that people adopt as a benchmark when comparing similar instruments or goods. The term “numeraire” is a French word that translates to “face value” or “money.” A numeraire is applied to a single instrument or product, which is then used…
What is a Holding Company? A holding company is a company that doesn’t conduct any operations, ventures, or other active tasks for itself. Instead, it exists for the purpose of owning assets. In other words, the company does not engage in the buying and selling of any products and services. Instead, it was formed so…
What is the Average Propensity to Consume (APC)? The average propensity to consume (APC) is a measure of the fraction of the total disposable income consumed. It is considered a significant concept for both individual consumers and economists. The APC can be used by an individual to determine where their income is being utilized, while…
What is an Average Return? Average return is the mathematical average of a sequence of returns that have accrued over time. In its simplest terms, average return is the total return over a time period divided by the number of periods. Average return, as in simple average, is calculated by adding a set of numbers…
