Working capital management is a business strategy planned to ensure the best utilization of a business’s current assets and liabilities for the company’s effective operation and to maintain sufficient cash flow to meet future short-term goals. Working capital management refers to the set of activities that make sure the company got sufficient resources for day-to-day operations. If a company has sufficient...

BPR stands for Business Process Re-engineering. Business process reengineering is a management strategy and a systematic approach to improve product quality and reduce organizational cost, service and speed. Business process reengineering (BPR) helps organizations reimagine their existing processes and redesign...

A Standard Operating Procedure (SOP) is a set of written instructions that describes activities necessary to complete the task under industry regulations. A Standard Operating Procedure is a document containing step-by-step instructions. SOP means simply a step-by-step production line procedure used to make products and improve staff efficiency. This documentation is important because it allows...

A Business Gap Analysis is a strategic analysis tool that helps to identify the gap between two business states, expected and current, and comes up with an action plan to remove this gap. Simply it is a method of assessing the difference between current performance and expected performance. Simply it is a method of assessing the difference between current performance and expected performance...