The Lean Start-Up uses a build-measure-learn feedback loop. As soon as the organization understands the customer need and market suitability, a minimum viable product is developed. Product, at this stage, itself doesn't necessarily solve all the customer needs. However it... Continue Reading →
Scales of measurement project how the variables are defined and characterized. Any measurement can be evaluated on the basis of type, magnitude, intervals and true zero. These parameters are fundamental to any data analysis. Identification of these parameters led to... Continue Reading →
ISO 9001 is a quality management system criteria which is based on a number of quality management principles with prime focus on delivering quality product to customers and empower businesses. ISO doesn’t certify any organization. The certification is conducted by... Continue Reading →
Popularized by Toyota Way developed in 1930s, Lean Manufacturing is a manufacturing/production method which focusses on reducing times within the production system while ensuring reduced response times from third party service providers – both upstream and downstream. It leads to... Continue Reading →
Implied warranty is a term in contract law that provides certain assurances to the buyer under presumption that they don’t need to be specifically spelled out in writing or communicated orally. Although in different countries the implied warranty is protected... Continue Reading →
PESTLE Analysis evolves around six factor which can influence the environment in which a company operates in. It is an important part of any company’s strategy as it influences the way the business is operated, how the changes are incorporated,... Continue Reading →
A buffer statement is a neutral or positive statement to set a welcoming tone to the conversation. Such statements act as a setup for the information to follow. If there is neutral business communication or positive news, a buffer can... Continue Reading →
Cultural differences are reality of globalization. People from different cultures working in close contact far more than ever at any point in the history of mankind. So it has become a matter of great importance that people understand the cultural... Continue Reading →
Gross Domestic Product (GDP) Gross domestic product or GDP is the sum of market values of all the goods and services produced in a specific time period. This aggregate measure of production is usually defined for a state or country... Continue Reading →
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