A business planning cycle is a structured plan of action that focuses on developing workable operating plans for a business. It involves identifying the nature of the business, major stages, and details of each stage. Even small businesses can use this tool, and consultancies can be called upon for help. A business planning cycle is […]
The Calvin cycle is a complex process in photosynthetic organisms that uses stored energy to turn carbon dioxide into usable compounds, also known as carbon fixation. It occurs in the stroma of chloroplasts and requires sunlight to activate enzymes. The cycle is essential for the survival of the organism and has a significant impact on […]
The product life cycle consists of four stages: introduction, growth, maturity, and decline. Marketers adjust pricing, promotion, and distribution as the product moves through each stage. The introduction phase involves advertising to create demand, while the growth phase aims to increase market share. The maturity stage sees sales growth slow, and the decline stage marks […]
The Austrian business cycle theory claims that manipulating interest rates can cause economic booms and crashes. The Federal Reserve can lower rates to stimulate the economy, but this artificial credit easing is short-lived and can cause a severe recession. Delaying a recession through monetary policy can make it worse. The Austrian business cycle theory states […]
Economists analyze individual country economies to detect global business cycle changes. Developed and emerging markets are separated by their economic state. GDP is used to determine individual economy expansion and assign a growth rate to the global economy, revealing the type of global business cycle. Economists tend to review activity in individual country economies to […]
The Family Life Cycle has five stages: independence, mating, parenting, empty nest, and retirement. Each stage teaches different life skills, such as developing close relationships and considering the needs of the entire family. The retirement stage focuses on enjoying life after work and combining all the skills and knowledge learned. The Family Life Cycle is […]
Regional economies go through cycles of boom and bust, affecting the value of currency. Inflation and business cycles are linked, and politicians try to balance growth and prices. A recession occurs when GDP declines for two quarters. Policymakers must balance inflation and recession indicators to set interest rates. Regional economies typically do not remain stagnant, […]
The night cycle is a period for electronic funds transfers (EFT) during the evening hours, established in 1979 to provide more comprehensive coverage for financial institutions. Same-day availability of funds is possible if payment is made before midnight. ACH system allows for the movement of funds electronically throughout the United States. The night cycle is […]
The procurement cycle involves identifying a product need, researching options, negotiating with suppliers, receiving delivery, and deciding if more is needed. A department oversees the process, finding the best products at the best prices while considering limitations. Specific procurement procedures must be followed, including security measures in some workplaces. The procurement cycle is a series […]
Performance management cycle (PMC) is a process used by employers to evaluate employee skills and job performance, set goals, and offer guidance for improvement. The cycle includes planning and goal setting, progress reporting, and review evaluation, with a final performance review determining salary increases or changes in employment status. A performance management cycle (PMC) is […]
Business cycle theories explain fluctuations in macroeconomic activity. Keynesian theory attributes changes to consumer spending, while New Classical theory claims changes result from output and consumer preferences. Economic growth is characterized by high employment and productivity, while recessions are marked by declines. Macroeconomic indicators help predict trends. Keynesian theory allows for flexibility, while New Classical […]
The Deming Cycle, also known as PDCA or the Deming wheel, is a four-step process used to solve business problems. The steps are plan, do, check, and act, with an emphasis on refining planned outcomes and evaluating results to make necessary changes. The cycle is named after William Edwards Deming, an American professor and statistician […]
Cycle counting is a partial inventory check that estimates the level of all inventory without counting every item in stock. It can be performed at regular intervals or based on items with the most sales weight. It is essential for accurate inventory management. A cycle count is an inventory management procedure in which workers count […]
GDP and the business cycle are closely related in terms of overall economic prosperity or decline. The business cycle has four phases: boom, peak, contraction, and trough. GDP is calculated based on the particular stage of the economic cycle. A consecutive decline in GDP over two quarters leads to the conclusion that a country is […]
The project lifecycle involves several stages, from identifying a need to closure. A project manager oversees the process, and team members are responsible for specific aspects. Planning and execution are crucial, and closure involves submitting the project for approval and releasing team members. A project lifecycle is the process that takes a project from conception […]
The spend cycle is the process from deciding to purchase a good or service to paying for it. It involves obtaining authorization, issuing a purchase order, accounting for the receipt of the item, and scheduling payment. The number and type of steps vary based on research complexity and payment policies. The spend cycle is a […]
Poverty is a cycle that often begins before birth due to poor access to antenatal care and prenatal nutrition. Lack of quality education and job prospects perpetuate the cycle, affecting entire communities. Economic intervention programs have had limited success, and opponents attribute it to the culture of poverty. Often children born into poverty grow up […]
The knowledge management cycle involves acquiring, processing, and distributing knowledge within an organization, including capturing knowledge from internal and external sources, processing and distributing it, and updating the knowledge repository through feedback. Proper storage of useful knowledge can be a challenge, but designated knowledge management personnel can encourage knowledge acquisition and information gathering. The knowledge […]
A business cycle is a series of economic ups and downs that occur during a company’s existence. There are four common expressions of the business cycle: economic recovery, economic peak, economic decline, and economic recovery. Savvy entrepreneurs recognize that every cycle is temporary and careful planning can help weather tough days. Every business goes through […]
Double cycle billing is a method used by some credit card companies to calculate interest by considering the current balance and the average daily balance from the previous billing period, potentially resulting in higher interest charges. Consumers can avoid this by not using credit cards with this billing strategy, paying balances in full each billing […]
