Key Difference – SLA vs OLA The key difference between SLA and OLA is that an SLA is a contract between a service provider (supplier) and the end user (customer) that outlines the level of service expected from the service provider whereas an OLA defines the interdependent relationships in support of an SLA. SLA and OLA are very popular and widely used in […]
Difference Between Six Sigma and Lean Six Sigma
Key Difference – Six Sigma vs Lean Six Sigma The key difference between Six Sigma and Lean Six Sigma is that Six Sigma is a method in management that provides organizations with necessary tools to improve the competence of business processes whereas Lean Six Sigma is a management philosophy that amalgamates lean concepts with […]
Difference Between Insourcing and Outsourcing
Key Difference – Insourcing vs Outsourcing The key difference between insourcing and outsourcing is that insourcing is assigning a task or a project to a party within the company instead of hiring an outside company whereas outsourcing is the practice of contracting out a task or a project to a third party company. These […]
Difference Between Dashboard and Scorecard
Key Difference – Dashboard vs Scorecard The key difference between dashboard and scoreboard is that dashboard refers to a data visualization tool that consolidates and displays various financial indicators of the business including metrics and numbers on a single screen whereas scorecard is a performance management tool that compares strategic objectives with results obtained. […]
Difference Between Profit Center and Investment Center
Key Difference – Profit Center vs Investment Center The key difference between a profit center and investment center is that a profit center is a division or a branch of a company which is considered to be a standalone entity that is responsible for making revenue and cost related decisions whereas an investment center […]
Difference Between Project Management and Functional Management
Key Difference – Project Management vs Functional Management The key difference between project management and functional management is that project management is the process of initiating, planning, executing, controlling, and closing the work of a project to achieve a specific objective whereas functional management is managing the routing activities in the organization relating to […]
Difference Between Matrix and Functional Structure
Key Difference – Matrix vs Functional Structure An organization can be arranged according to a variety of structures, which enable the organization to operate and perform. Its objective is to carry out operations smoothly and efficiently. The key difference between matrix structure and functional structure is that matrix structure is a type of organizational […]
Difference Between Functional and Divisional Structure
Key Difference – Functional vs Divisional Structure The key difference between functional and divisional structure is that functional structure is an organizational structure in which the organization is divided into smaller groups based on specialized functional areas such as production, marketing and sales whereas divisional structure is a type of organizational structure where operations […]
Difference Between Line Organization and Functional Organization
Key Difference – Line Organization vs Functional Organization An organization can be arranged according to a variety of structures, which facilitate the organization to operate and perform. The key difference between line organization and functional organization is that line organization operates with a structure where direct lines of authority flows from top management and […]
Difference Between Delegation and Decentralization
Key Difference – Delegation vs Decentralization Delegation and decentralization are commonly used management concepts by organizations in order to effectively manage the business operations. When a company expands, it becomes difficult to manage. Therefore delegation and decentralization are required to ensure smooth conduct of tasks. The key difference between delegation and decentralization is that […]
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