Diffusion of Innovations Theory – Explained

by TheBusinessProfessor | Feb 23, 2025 | Strategy, Entrepreneurship, & Innovation

What is the Diffusion Of Innovations Theory?The diffusion of innovations theory is a theory that seeks to explain the rate (speed) at which new information and technology spread throughout a given population or society. Different populations and societies adopt new...

Development Economics – Explained

by TheBusinessProfessor | Feb 23, 2025 | Economic Analysis & Monetary Policy

What are Development Economics?Development economics is a field of economics that focuses on improving the economic and social status of local communities and developing nations. This branch of economics pays attention to the quality of life, quality education, health...

Collaborative Economy – Explained

by TheBusinessProfessor | Feb 23, 2025 | Economic Analysis & Monetary Policy

What is the Collaborative Economy?A collaborative economy is a type of economy where consumers rely on one another for the satisfaction of their needs. This means consumers are able to get what they need from one another. A collaborative economy is otherwise known as...

Collaborative Business Intelligence – Explained

by TheBusinessProfessor | Feb 23, 2025 | Operations, Project, & Supply Chain Management

What is Collaborative Business Intelligence (CBI)?The term “collaborative” refers to an organized group of people who work towards achieving a common goal. Business intelligence, on the other hand, is defined as a process driven by technology that is used...

Coefficient of Variation – Explained

by TheBusinessProfessor | Feb 23, 2025 | Research, Quantitative Analysis, & Decision Science

What is the Coefficient of Variation?According to probability theory and statistics, the standardized measure of the dispersion of a probability distribution or frequency distribution is referred to as the coefficient of variation (CV). It can also be called...

Coefficient of Determination – Explained

by TheBusinessProfessor | Feb 23, 2025 | Research, Quantitative Analysis, & Decision Science

What is a Coefficient of Determination?The coefficient of determination (R squared), is defined as the proportion of the variance in the dependent variable that is predictable from the independent variable(s). It is a statistic that indicates the percentage of the...

Brand Extension – Explained

by TheBusinessProfessor | Feb 23, 2025 | Principles of Marketing

What is Brand Extension?Brand extension is a strategy in which a new product is launched or market using an established brand or platform. When a new category of product is launched on an existing and reputable brand, it is brand extension. Brand extension is also...

Property, Plant, and Equipment – Explained

by TheBusinessProfessor | Feb 23, 2025 | Managerial & Financial Accounting & Reporting

What is Property Plant and Equipment?Property, plant, and equipment are otherwise called tangible assets. These are assets whose useful life is more than one year and are used for the production of products and services in a company. Property, plant, and equipment is...

Prospect Theory – Explained

by TheBusinessProfessor | Feb 23, 2025 | Management, Leadership, & Organizational Behavior

What is Prospect Theory?The prospect theory is a theory that believes that people make certain decisions and exhibit certain behaviors when faced with choices that involve probability. As an economic theory, the prospect theory maintains that individuals value losses...

Loss Disallowance Rule – Explained

by TheBusinessProfessor | Feb 23, 2025 | Business Taxation

What is a Loss Disallowance Rule?The Loss disallowance rule is a rule that prohibits a corporation or a consolidated group from filing a single tax return on all its subsidiaries just for tax benefits. In the United States, corporations file a single tax return on all...