Key Difference – Unity of Command vs Unity of Direction Unity of command and unity of direction are two important aspects to consider in an organizational hierarchy. The key difference between unity of command and unity of direction is that unity of command states that each employee is accountable to one supervisor or manager from […]
Difference Between Secured and Unsecured Credit Card
Key Difference – Secured vs Unsecured Credit Card Credit cards are issued by financial institutions such as banks, stores, or service providers and customers that fulfill pre-determined criteria are entitled to apply for the same, subject to a credit limit. Credit card balances are rolling, where a portion of the due amount has to […]
Difference Between Teamwork and Collaboration
Key Difference – Teamwork vs Collaboration Teamwork and collaboration are two terms that are often considered as the same. In fact, both are very similar in nature and cooperatively work towards achieving a common objective. The key difference between teamwork and collaboration is that in teamwork, a group of people perform their individual roles […]
Difference Between Callable and Convertible Bonds
Key Difference – Callable vs Convertible Bonds A bond is a debt instrument issued by corporates or governments to investors in order to obtain funds. They are issued at a par value (face value of the bond) with an interest rate and a maturity period. Callable and convertible bonds are two popular types of bonds among […]
Difference Between Chain of Command and Span of Control
Key Difference – Chain of Command vs Span of Control Chain of command and span of control are two important aspects in an organization related to organizational hierarchy. Both terms may be confused as one and used interchangeably due to their similarities in objective, which is to ensure that human capital within the organization […]
Difference Between National Income and Disposable Income
Key Difference – National Income vs Disposable Income National income and disposable income are two key economic measures used to measure the economic prosperity. The key difference between national income and disposable income is that national income is the total value of the total output of a country including all goods and services produced […]
Difference Between Tall and Flat Structure
Key Difference – Tall vs Flat Structure The key difference between tall and flat structure is that tall structure is an organizational structure with many levels of hierarchy whereas flat structure is an organizational structure with a limited number of levels of hierarchy. Organizational structure should be carefully chosen in order to ensure effective […]
Difference Between Line Authority and Staff Authority
Key Difference – Line Authority vs Staff Authority The key difference between line authority and staff authority is that line authority reflects superior-subordinate relationships characterized by the power of decision making whereas staff authority refers to the right to advice on improving the effectiveness for line employees in performing their duties. Authority is related […]
Difference Between Controllable and Uncontrollable Cost
Key Difference – Controllable vs Uncontrollable Cost Understanding the cost classifications of controllable and uncontrollable costs is vital in order to make a number of business decisions. It assists businesses to reduce costs and make choices as to whether or not to proceed with a certain decision. The key difference between controllable and uncontrollable […]
Difference Between Inventory Control and Inventory Management
Key Difference – Inventory Control vs Inventory Management The key difference between inventory control and inventory management is that inventory control is a method of regulating the inventory level in the company warehouse whereas inventory management refers to the activity of forecasting and replenishing inventory which is focused on when to order the inventory, […]
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