Term of the Day net profit


Term of the Day

net profit

Often referred to as the bottom line, net profit is calculated by subtracting acompany’s total expenses from total revenue, thus showing what thecompany has earned (or lost) in a given period of time (usually one year).also called net income or net earnings.

For more information, see Net vs Gross.

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Usage Example
After paying off all the expenses for the year, the money that remained is the company’s net profit.

Term of the Day bid


Term of the Day

bid

1. General: Indication of willingness to buy or sell goods or services or to undertake a task, at a specific price and within a specific timeframe.
2. Contracting: Complete proposal (submitted in competition with otherbidders) to execute specified job(s) within prescribed time, and not exceeding a proposed amount (that usually includes labor, equipment, and materials). The bid-receiving party may reject the bid, make a counter offer, or turn it into a binding contract by accepting it. See also offer and proposal.
3. Financial markets: Highest price at which prospective buyers are willing tobuy commodities, foreign exchange, or securities.
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Usage Example
The investor offered a max bid of $20 for 1000 securities, the seller however declined that offer.

Learning New Skills – Starting a New Phase


This September, I decided to pursue an old hobby I gave up in 1965 after I lost my father and had to begin earning part time while learning.

My mother taught me few skills. She invested in my learning to TypeWrite an to Play Flute, Bass and Side Drums. She would say, Like Learning Never Ends – Skills never go away. If you have seriously applied yourself – the skill comes back.  She’d also say that we don’t know which Skill may be in demand when and can become our source of earning.  For us, Earning was so critical then, it is even now ! ( Need to Earn never ends, like Learning – can we say ? As even the Richest man / woman in the world likes to keep Earning, ain’t it? )

I came across this Sanskrit Shloka one day on twitter and the Tweeples post Gems there many a times apart from the normal heated poli-Tickle exchanges :).

यद्यदालिखति मनः आशावर्तिकाभीः हृदयफलके ।
तत्तद्बाल इव विधिर्निभृतं हसित्वा प्रोञ्छति ॥

Whatever the mind inscribes (paints),

with the brushes of desire,

on the board of the heart,

fate, stealthily smilingly,

wipes it all out, like a little child!

………

There was yet another Shloka on a blog I came across:

भारोऽविवेकिनः शास्त्रं भारो ज्ञानं च रागिणः ।
अशान्तस्य मनो भारः भारोऽनात्मविदो वपुः ॥
– योगवासिष्ठ, वैराग्य

An idiot would find the scriptures heavy.
A person who enjoys worldly pleasures finds knowledge heavy and unbearable.
A restless man finds his mind heavy.
If one does not know his self, he will find his body heavy.

– Yogavasishta, Vairagya

Wikipedia describes Self Actualisation as The full realization of one’s potential”, and of one’s ‘true self’… The term was originally introduced by the organismic theorist Kurt Goldstein for the motive to realize one’s full potential.
Expressing one’s creativity, quest for spiritual enlightenment, pursuit of knowledge, and the desire to give to society are examples of self-actualization.
In Goldstein’s view, it is the organism’s master motive, the only real motive: “the tendency to actualize itself as fully as possible is the basic drive… the drive of self-actualization.
The concept was brought most fully to prominence in Abraham Maslow’s hierarchy of needs theory as the final level of psychological development that can be achieved when all basic and mental needs are essentially fulfilled and the “actualization” of the full personal potential takes place, although he adapted this viewpoint later on in life, and saw it more flexibly.
Self-actualization can be seen as similar to words and concepts such as self-discovery, self-reflection, self-realisation and self exploration. It is this phase of life I have entered and have begun focus on my unfulfilled childhood hobbies like Drawing, Painting etc.by Self-Learning Methods as there is still So Much to Learn. Learning Never Ends and Shouldn’t.

I begin my Learning phase and hopefully my Self-Actualisation phase with Hope !

Term of the Day franchise


Term of the Day

franchise

A form of business organization in which a firm which already has a successful product or service (the franchisor) enters into a continuingcontractual relationship with other businesses (franchisees) operating under the franchisor’s trade name and usually with the franchisor’s guidance, inexchange for a fee. Some of the most popular franchises in the United Statesinclude Subway, McDonalds, and 7-Eleven.

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Usage Example
When you purchase a franchise option the franchising company gives you the blueprint for your success.

Term of the Day current ratio


Term of the Day

current ratio

Indicator of a firm’s ability to meet short-term financial obligations, it is theratio of current assets to current liabilities. Though every industry has itsrange of acceptable current-ratios, a ratio of 2:1 is considered desirable in most sectors. Since inventory is included in current assets, acid test ratio is a more suitable measure where salability of inventory is questionable. Formula: Current assets/Current liabilities.
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Usage Example
Also known as the liquidity ratio, the current ratio measures whether a firm has enough resources to pay its debts over the next year.

Term of the Day success


Term of the Day

success

1. Achievement of an action within a specified period of time or within a specified parameter. Success can also mean completing an objective or reaching a goal. Success can be expanded to encompass an entire project or be restricted to a single component of a project or task. It can be achieved within the workplace, or in an individual’s personal life. For example, if anindividual‘s personal goal is to be accepted in a new career, success would occur after the individual has been officially accepted into his or her new place of employment.
2. Colloquial term used to describe a person that has achieved his or her personal, financial or career goals. It could also be used to describe anindividual that has more objects (money or any other desirable …
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Usage Example
To keep employees happy and satisfied, it is important to reward them for their good work and success.

Term of the Day EU


Term of the Day

EU

European Union. The economic association of over two dozen Europeancountries which seek to create a unified, barrier-free market for products andservices throughout the continent, as well as a common currency with a unified authority over that currency. The European Union was established in 1993 by the Treaty of Maastricht, and was based on the European EconomicCommunity. The EU is formed of three areas, or pillars, which are theEuropean Community, Common Foreign and Security Policy, and Police and Judicial Co-operation in Criminal Matters. The EU has a wide variety of legislative bodies, including the European Parliament, the Council of the European Union, and the European Commission. The European Court of Justice and the Court of First Instance are the two main judicial bodies for the European Union. The format and principles of the EU have their roots in the European Coal and Steel Community, created in the early 1950s.

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Usage Example
The EU is a 28 member politico-economic union that shares a common currency and a standardized system of laws that apply in all member states.

Term of the Day diversity


Term of the Day

diversity

1. Accounting: Situation where different batch sizes, distribution channels,product mixes, etc., place different demands on resources due to unevenassignment of costs.
2. HR: Feature of a mixed workforce that provides a wide range of abilities,experience, knowledge, and strengths due to its heterogeneity in age, background, ethnicity, physical abilities, political and religious beliefs, sex, and other attributes.
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Usage Example
This creative insight is the direct result of the diversity of the team – specifically, individuals who possess different attributes and perspectives.