Gap Analysis – Explained

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

What is a Gap Analysis?Gap Analysis refers to the comparison between the actual and standard performance of an organization. It identifies if it is performing as per the expectations, and utilizing resources in an efficient manner.Gap analysis involves a 4-step...

Gross National Product – Explained

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

What is Gross National Product?Gross National Product, known as GNP, is the total amount of final goods and services that a country produces in a given year.How to Calculate Gross National Product?Gross National Product is the sum of personal consumption, personal...

Gross National Income (GNI) – Explained

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

What is Gross National Income?Gross National Income is the total of Gross Domestic Product and the income that foreign residents earn, less the income that non-residents earn in the local currency.How to Calculate Gross National Income?Gross National Income is...

European Bank for Reconstruction and Development (EBRD) – Explained

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

What is the European Bank for Reconstruction and Development (EBRD)?The European Bank for Reconstruction and Development (EBRD) is an international bank that was formed to assist Eastern European countries and ex-Soviet countries to uplift their economies and ensure a...

Ethnocentrism – Explained

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

What is Ethnocentrism?Ethnocentrism is an idea or belief that ones way of life, culture, group, race, and language are superior to others. It generally entails bias in ones ability to objectively judge options and make comparisons.How does Ethnocentrism Work?An...

Equity Financing – Explained

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

What is Equity Financing?Equity financing is the process to raise funds for a business by issuing shares (selling stock) in the market.How Does Equity Financing Work?When a company needs funds beyond what is available from operations, it generally has two options: 1)...

Elasticity Coefficient – Explained

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

What is an Elasticity Coefficient?Price elasticity or elasticity coefficient is an economic term that shows the percentage change in quantity demanded due to a change in the price of goods and services. Back to: RESEARCH, ANALYSIS, & DECISION SCIENCE How...

Elasticity of Demand – Explained

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

What is Elasticity of Demand?Elasticity of demand is an economic term which denotes the rate of change of demand for goods and services due to change in prices and other economic variables (price, income, tax and consumer taste etc.). How to Measure Elasticity of...

Emerging Market Economy – Explained

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

What is an Emerging Market?Emerging markets or emerging economies are states and nations that have some characteristics of a developed economy but have not fully reached that stage. What are the Characteristics of Emerging Markets? Emerging markets generally...

Elevator Pitch – Explained

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

What is an Elevator Pitch?Elevator pitch is a business term used to describe a quick summary or overview of product, idea, or business venture. A derivation of the elevator pitch is the personal elevator pitch, in which an individual tells about themselves. The notion...