The Business Professor
Understanding the Scope of the Agency Relationship
This video discusses the scope of the agency relationship between a principal and an agent, focusing on the differences between a general agent and a limited agent. The video also mentions the importance of the agreement between the...
The Business Professor
SAAS Business Model - Explained
What is a SAAS Business Model? SaaS, or software as a service, is a delivery model in which a centrally hosted software is licensed to customers via a subscription plan. Any company that leases its software through a central, cloud-based...
The Business Professor
Role of Officers of the Corporation - Explained
Role of Officers of the Corporation - Explained
The Business Professor
Role of Marketing in the Organization
This Video Explains the Role of Marketing in the Organization
The Business Professor
What is an Operational Analysis?
What is Operational Analysis of a startup venture? How is an operational analysis carried out? The process of operational analysis involves gathering data from various sources, such as customer feedback, employee surveys, and financial...
The Business Professor
Value Engineering
Value engineering is the review of new or existing products during the design phase to reduce costs and increase functionality to increase the value of the product. The value of an item is defined as the most cost-effective way of...
The Business Professor
Types of Teams
What are the Types of Teams? The five most popular types of teams in an organization include problem-solving teams, self-managed work teams, cross-functional teams, virtual teams, and multiteam systems. A formal team is a group of...
The Business Professor
Types of Groups
What are the Types of Groups? Formal and Informal Groups, Primary and Secondary Groups, Organized and Unorganized Groups, Temporary and Permanent Groups, Open and Closed Groups, Accidental and Purposive Groups
The Business Professor
Team Roles
What are Team Roles? Plant, Resource Investigator, Co-ordinator, Shaper, Monitor Evaluator, Teamworker, Implementer, Completer Finisher, Specialist
The Business Professor
Using Budgets for Performance Evaluation
In this video, the speaker discusses how budgets are used as a tool for performance evaluation. The speaker highlights several key performance indicators (KPIs) or metrics that can be derived from the budget. Overall, the video...
The Business Professor
Business Jobs Broken Down by Career Field
This Video Explains Business Jobs Broken Down by Career Field
The Business Professor
Business Consulting Firms - Importance and Lists
This Video Explains Business Consulting Firms - Importance and Lists
The Business Professor
Designing a Team
What is Designing a Team? Team design is the process of organizing individuals into a cohesive coalition—one that makes a concerted effort to achieve a shared outcome. Teamwork has a lot of advantages: combined brain power, complementary...
The Business Professor
Control Function of Management
What is the Control Function of Management? Controlling is a primary goal-oriented function of management in an organization. It is a process of comparing the actual performance with the set standards of the company to ensure that...
The Business Professor
Comparison between Financial and Managerial Accounting
Financial accountants focus on the preparation of financial statements to report to the outside world. Managerial accountants focus on the use of internal information to all internal decision making.
The Business Professor
Classes of Employee in Business
This Video Explains Classes of Employee in Business
The Business Professor
Express Warranty - Contract Law
A contract warranty is an assurance that certain representations will remain true for a certain period of time. This video goes further to explain what is an express warranty in a contract?
The Business Professor
Employers Prefer Business Majors
This Video Explains Why Employers Prefer Business Majors
The Business Professor
Employer Identification Number (EIN)
What is an Employer Identification Number (EIN)? The Employer Identification Number, also known as the Federal Employer Identification Number or the Federal Tax Identification Number, is a unique nine-digit number assigned by the...
The Business Professor
Cost Behavior - Measuring Output and Relevant Range
Cost behavior generally concerns how costs are affected by changes in output. The relevant range is the range of production over which cost behavior is consistent.
The Business Professor
InSourcing vs Outsourcing
What is Insourcing? What is Outsourcing? Outsourcing is the process of hiring a third-party or outsourcing company to do a specific task or function for your business. On the other hand, insourcing means bringing the task or function...