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Difference Between Benchmark and Baseline
Benchmark vs Baseline   Difference between benchmark and baseline is that benchmark is comparing the performance of a company with the best practices in the industry; baseline is setting up a framework before any project starts, that can be used as a basis for implementation. Both these techniques are performance... 
Difference Between Onboarding and Orientation
Onboarding vs Orientation   Difference between onboarding and orientation is that onboarding is the process of integrating new employees to the company while orientation is the process of introducing a new employee to the job. These two concepts are related to recruitment that is a main function of human resource... 
Difference Between Bank Owned and Foreclosure
Bank Owned vs Foreclosure   Foreclosed homes and bank owned homes (or REO) are terms used often in the Property market and an understanding on the difference between bank owned and foreclosure is important for those dealing with buying and selling properties. Foreclosure and bank owned homes are homes that have... 
Difference Between Accruals and Prepayments
Accruals vs Prepayments   Both accruals and prepayments are equally important in accounting, and therefore, clear understanding on the key difference between accruals and prepayments is important for an accountant to ensure that they are accurately recorded. Accruals and prepayments are known as adjusting entries... 
Difference Between Business Risk and Financial Risk
Business Risk vs Financial Risk   Since business risk and financial risk are very relevant topics to the world of business, identifying the difference between business risk and financial risk is crucial. The running of businesses involves a considerable amount of risk. It is important for business owners and entrepreneurs... 
Difference Between Tax Evasion and Tax Avoidance
Tax Evasion vs Tax Avoidance   As tax avoidance and tax evasion are both methods used by individuals and businesses to minimize or completely avoid the payment of taxes, one should be able to recognize the difference between tax evasion and tax avoidance. While these concepts may sound similar to one another, there... 
Difference Between Strategic and Operational Planning
Strategic vs Operational Planning   Difference between strategic and operational planning is that strategic planning is made to achieve a company’s long-term objectives while operational planning is focused on achieving a company’s short-term objectives. Both are considered to be very important for... 
Difference Between Reward and Recognition
Reward vs Recognition   Difference between reward and recognition is that the reward is receiving something in return for the individual performances while recognition is a token of appreciation given to an individual for his performance or an achievement. Both these methods can be used as motivational techniques... 
Difference Between Job Description and Position Description
Job Description vs Position Description   Difference between job description and position description is that job description includes the duties and responsibilities expected from an employee while position description is more specific as the roles and responsibilities may differ according to the position. Both... 
Difference Between Procedure and Work Instruction
Procedure vs Work Instruction   Difference between Procedure and Work Instruction is that work instructions include the guidelines that need to be followed in performing a particular task while procedure means the accepted ways of performing a particular task. Both are related with the policies and guidelines of... 
Difference Between HRM and SHRM
HRM vs SHRM   Difference between HRM and SHRM is that HRM is about managing the human resource within the organization and SHRM is about aligning the human resources with the strategic objectives of the organization. Both these are important concepts in management and this article briefly describes the two concepts... 
Difference Between Strategic and Financial Planning
Strategic vs Financial Planning   Difference between strategic and financial planning is that financial planning is about planning for the finances or use of cash flows over a period of time while strategic planning is about planning the road-map of the organization. Financial planning is done in order to achieve... 
Difference Between Quality Assurance and Quality Improvement
Quality Assurance vs Quality Improvement   As quality assurance and quality improvement are two important concepts with regard to quality, any organization keen to implement quality management should know the difference between quality assurance and quality improvement. In the organizational point of view, it... 
Difference Between Employee Engagement and Commitment
Employee Engagement vs Commitment   Having a clear idea on the difference between employee engagement and commitment is important for those in the field of human resource management as employee engagement and employee commitment are often confused terms. Employees who are engaged in particular activities must be... 
Difference Between Employee Involvement and Empowerment
Employee Involvement vs Empowerment   The difference between Employee Involvement and Empowerment is a very delicate subject as both, employee involvement and employee empowerment, are intertwined concepts. Employee involvement and empowerment are two important concepts used in managing human resources within... 
Difference Between Quality Manual and Quality Plan
Quality Manual vs Quality Plan   Knowing the difference between quality manual and quality plan is essential if you are entrusted with the duty to introduce a Quality Management System for your department or for your organization. That is because in the rapid changing business world, maintaining quality is an essential... 
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