Difference Between

Audit vs Inspection   Audit and inspection are carried out to verify that a certain set of standards, guidelines, rules, and norms are being met. Audits are carried out in greater depth than inspections, and they usually require a longer period of time. In contrast, inspections are less formal and can be... 

Supply Chain vs Value Chain   Supply chains and value chains are both networks of companies/processes that come together to deliver a product that is of good quality, at low cost, in a timely manner. Both supply chains and value chains are made up of a well-integrated selection of processes that need to be... 

Core Competencies vs Competitive Advantage   Core competencies and competitive advantages are closely related to one another as they both help companies achieve greater market share, customer satisfaction, loyalty and greater profits. Core competencies generally lead to competitive advantages, although this... 

Transactional vs Transformational Leadership   Leadership is a quality that is found in only a few individuals but these are the people who play a vital role in any organization as they provide direction to the subordinates. Thus, they are like rudders of a boat in a water body. With the passage of time,... 

Strategy vs Policy   The success of a business is strongly linked to how the management of the company perceives the goals to be achieved and the ways devised to achieve those goals. There are two different but interrelated concepts of strategy and policy that are very confusing for outsiders to a business.... 

Negotiation vs Mediation   As alternative dispute resolution techniques, we have known negotiation and mediation for long, long time now. Even in the time of kings and even before between tribes, these were techniques that were based on give and take to resolve bitter disputes. Disputes can turn into ugly... 

Control Limits vs Specification Limits If a layman looks or hears the words control limits and specification limits, he will probably get nothing out of them, but the same words mean a lot to those involved in production process in a factory. There are many who confuse between these concepts despite them being... 

Transformed Resources vs Transforming Resources The production process is always involved with inputs as well as outputs. Inputs are invariably raw materials, while outputs are products that are desired to be sold in the markets. In modern management theories, it is common to encounter words like transformed... 

Project vs Program One question that troubles many is the difference between a program and project. Whether he is given a program or a project does not mean much to a layman, but to a manager, it means a lot as both entail different functions and responsibilities that will be clear only when the differences between... 

Public vs Private Procurement When we talk about public and private sectors, we know that we are talking about two different entities that have different work ethics, different roles and responsibilities in the economy, and different work parameters. In case of public enterprises, the first and foremost objective... 

Code of Ethics vs Code of Conduct Of late, there has been a lot of talk about codes of ethics and codes of conduct. As their names suggest, codes of ethics have a weighing upon decisions made by individuals and companies, whereas codes of conduct have a bearing upon actions taken by individuals as well as organizations.... 

Accountability vs Responsibility Accountability and Responsibility are two words that are quite often confused due to the similarity between their meanings. Strictly speaking, these two words have to be understood differently. The word ‘accountability’ is generally used in the sense of ‘answerability’.... 

Goals vs Targets Goals and Targets are two words used in the English language that show difference between them when it comes to their usage. Goals refer to the ‘primary ambition’ that people cherish time and again to achieve. On the other hand, targets are aims we strive to reach. This is the basic difference... 

Protocol vs Procedure Protocol is a word that is mostly heard in relation with diplomacy and bureaucracy. It is similar in meaning to policy and procedures that are put in place to avoid chaos or any diplomatic blunder that may be a cause of embarrassment to a government. However, it is not just foreign office... 

ISO 17025 vs ISO 9001 ISO means International organization for standardization. ISO 17025 is for laboratory accreditation. ISO 9001 is for quality management systems, for organization needs. ISO 17025 assess the competence of a conformity assessment body (CAB). A CAB means a laboratory. This is a tool to demonstrate... 

Walkthrough vs Inspection Walkthrough and Inspection are two words that are used in organizational behavior and in business. The two terms are indeed different when it comes to their inner meanings. A walkthrough is nothing but an informal meeting that takes place to evaluate the performance of a product. ...