In-sourcing vs Outsourcing – Explained

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

What is Insourcing?Insourcing is the allocation of jobs or assignment to individuals in the firm or in a cooperative firm (such as a subsidiary). Insourcing is the opposite of outsourcing.  What is Outsourcing? Outsourcing involves hiring third parties (outside of the...

Grey Market Imports – Explained

by TheBusinessProfessor | Feb 23, 2025 | Sales

What are Gray-Market Imports?Gray market is the trade of a commodity that is unintended by the original manufacturer – even though they are legal. Gray market products, on the other hand, are goods sold by authorized parties without following the agreed terms...

Global System of Trade Preferences – Explained

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

What is the Global System of Trade Preferences (GSTP)?The Global System of Trade Preferences or GSTP is a trade agreement developed by the United Nations. It was signed and consented to by developing countries under the aegis of the United Nations on 13th April,...

Growth Hacking – Explained

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

Update Table of Contents What is Growth Hacking?How does Growth Hacking Work?The Modus Operandi of Growth Hacking Examples of Growth Hacking  Academic Research on Growth Hacking What is Growth Hacking?Growth Hacking is a marketing concept that focuses on efficient and...

Gantt Chart – Explained

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

What is a Gantt Chart?Designed as a product-control tool in 1917 by Henry Gantt, the Gantt chart is a graphical representation of the schedules of various elements of a project, such as the beginning, the end, resources, and dependencies. It is popular as a project...

Generally Recognized Accounting Practices – Explained

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

What are Generally Recognized Accounting Practice (GRAP)?The Generally Recognized Accounting Practice (GRAP) is an accounting standard employed in South Africa. It is defined as an array of essential ideas that serves as a guide to processes related to accounting. It...

Glass Steagall Act – Explained

by TheBusinessProfessor | Feb 23, 2025 | Banking, Lending, and Credit Industry

Update Table of Contents What is the Glass-Steagall Act?How Does the Glass-Steavall Act Work?Potential Re-Instatement of the Glass-Steagall Act What is the Glass-Steagall Act?The Glass-Steagall Act of 1933 describes the provisions of the USA Banking Act aimed at...

Company Valuation Methods – Explained

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

What is a Company Valuation Method?Business valuation is a method of appraising the economic value of a business or company. Financial market players use valuation methods when buying or selling a business. Valuation also becomes relevant in divorces, litigation,...

Generally Accepted Auditing Standards – Explained

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

What are Generally Accepted Auditing Standards?Generally Accepted Auditing Standards generally termed as GAAS is a step by step guideline that auditors use while performing audits. The audits are of the financial records of the companies. They make sure that the audit...

Certified Internal Auditor – Explained

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

What is a Certified Internal Auditor?A certified internal auditor is employed by a company or the government to review the financial records of that company or the government before an external auditor comes in. CIAs receive special certifications conferred by IIA...