Just in Time Inventory System – Explained

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

What is Just In Time (JIT) Inventory System?Just-in-time inventory system (JIT) is an operations management strategy of ordering raw materials/goods, and receiving those raw materials/goods only as they are needed to keep the production process running to meet actual...

Link Building – Explained

by TheBusinessProfessor | Feb 23, 2025 | SEO, Social Media, Direct Marketing

What is Link Building?Link Building is a search engine optimization (SEO) technique wherein websites solicit backlinks from quality websites, especially websites on similar topics, to increase their authority score. Link building helps a website become more prominent...

Law of Diminishing Marginal Returns – Explained

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

What is the Law of Diminishing Marginal Returns?The decrease in a production process marginal output, as a single input factor rises while other input factors remain constant, is called the Law of Diminishing Marginal Returns in economic parlance. As a single input...

Levered Beta – Explained

by TheBusinessProfessor | Feb 23, 2025 | Business Finance, Personal Finance, and Valuation Principles

What is a Levered Beta?In a Capital Asset Pricing Model (CAPM), the risk of holding a stock, calculated as a function of its financial debt vs. equity, is called Levered Beta or Equity Beta. The amount of debt a firm owes in relation to its equity holdings makes up...

Long Tail Keywords – Explained

by TheBusinessProfessor | Feb 23, 2025 | SEO, Social Media, Direct Marketing

What are Long Tail Keywords?Long tail keywords are phrases exceeding two words that define a topic and are usually used by the general public while looking for a topic/product/service on Search Engines. These are very specific phrases that a user is looking for and...

Lean Six Sigma – Explained

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

What is Lean Six Sigma?Lean Six Sigma (LSS) is a comprehensive method for removing waste for organizational operations through standardization and procedure. It is a combination of Six Sigma and lean manufacturing to dispose of eight different types of waste. These...

Diminishing Marginal Utility – Explained

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

What is Diminishing Marginal Utility?The law of Diminishing Marginal Utility is an economic concept. It applies to when a particular commodity is consumed. Consumption of a commodity produces a benefit; but, as consumption grows, the benefit from consuming an...

Diminishing Marginal Productivity – Explained

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

What is Diminishing Marginal Productivity?The Law of Diminishing Marginal Product is an economics concept. It says that, at early stages of production, if we increase 1 production variable and the rest of the things remain the same, the product total production may...

International Product Cycle – Explained

by TheBusinessProfessor | Feb 23, 2025 | Global Business, International Law & Relations

What is International Product Cycle?The international product cycle concerns the stages of product development in the international market. It is best explained by the Product Life Cycle theory, developed by researcher Raymond Vernon. According to Vernon, products go...

Import Licensing – Explained

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

What is Import licensing?Import licensing is the submission of all needed documents by an organization to the right authority for approval of the importation of specific types of goods. The requirements for import licensing are influenced primarily by the General...