What is Process Management? Business process management is the discipline in which people use various methods to discover, model, analyze, measure, improve, optimize, and automate business processes. Any combination of methods used to...

What is a PESTEL Analysis? A PESTEL analysis is a framework or tool used by marketers to analyze and monitor the macro-environmental (external marketing environment) factors that have an impact on an organization, company, or industry.

What is the 4C Situational Analysis? The 5C Situation analysis is a method of conducting both an internal and external analysis of a company.

This video provides a clear explanation of short-run decision making and emphasizes its importance in the decision making process, particularly in terms of the immediate impact and time frame involved.

This Video Explains Secondary Market Research Methods

A sensitivity analysis is used to test how variations in specific factors affect an outcome. The assumptions employed as part of the situational analysis are generally based on historical information, hypotheical contexts, and constancy

Variance in any of major variables employed in the cost volume analysis will cause a variation in the expected output or profits from operations. This video identifies the major variables that may vary in a CVPA analysis.

What is the Value Streaming Map? Value stream mapping is a technique — developed from Lean manufacturing — that organizations use to create a visual guide of all the components necessary to deliver a product or service, with the goal of...

Value engineering is the review of new or existing products during the design phase to reduce costs and increase functionality to increase the value of the product. The value of an item is defined as the most cost-effective way of...

What is the process that businesses use in determining the appropriate competitive strategy

Break even analysis is a key assumption when conducting a Cost Volume Profit Analysis. This video explains the relevance of this assumption.

The Cost Volume Profit Analysis yields the number of units needed for an operation to break even. At break even, the operating income is zero.

This video provides and explanation of what is Cost Volume Profit Analysis. It gives a brief overview of how the CVPA is used in managerial accounting.

Various assumptions must be made or are relevant when conducting a Cost Volume Profit Analysis. This video explains the nature of those assumptions.

This video explores the concept of cost behavior and its relevance to managerial judgment. The video introduces two common methods for assessing cost changes: the high-low method and regression analysis. The video emphasizes that...

Common size analysis is used to compare financial performance of two different companies or units. It is used to put the compared organizations on the same footing for comparison.

There are various assumptions made when employing the DuPont formula to compare the performance or Return on Equity between Companies. The primary assumption is that the companies being compared are similar in nature.

Managerial accounting and the impacts that it has on the organization continuously evolves. This video discusses the current focus or focuses of managerial accounting.

This video explains the concept of cost volume profit (CVP) analysis and the relationships between various metrics used in this analysis. The video delves into key metrics such as contribution margin, net income, variable expense ratio,...

A sensitivity analysis as part of the cost volume profit analysis shows how profits vary with changes in cost or volume.

Cost behavior generally concerns how costs are affected by changes in output. The relevant range is the range of production over which cost behavior is consistent.

The IFE is focused on the internal dimension of the organization by looking at the strengths and weaknesses. While the EFE is concerned with the external factors by focusing on the opportunities and threats the organization is exposed to.

Industry life cycle refers to the stages of growth, consolidation, and eventual extinction of an industry. It mirrors an economic cycle and consists of four main stages: expansion, peak, contraction, and trough. It is used to analyze a...

What is Forecasting in business? In the simplest terms, forecasting is the attempt to predict future outcomes based on past events and management insight.