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Management and Business Jargon Demystified retail rajnish kumar itc

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Management and Business Jargon Demystified retail rajnish kumar itc

  1. 1. Management Jargon Demystified <ul><li>If you cannot explain it to your 6 year old daughter, you have probably not understood it yourself ~ Albert Einstein Ram Charan,who has been named as “The most influential consultant alive” by Fortune magazine believes that the basics of doing business are not complicated at all and are just common sense. He says : </li></ul><ul><li>Business acumen is not an arcane or complicated skill. Every successful business person has business acumen, Including unschooled vendors who sell their wares in third world open air markets. </li></ul><ul><li>If you think about those business fundamentals in their simplest terms, the way a street vendor selling fuit and vegetables might think about them, I believe that the concepts are easy enough for anyone interested in business to understand. </li></ul><ul><li>He adds : </li></ul><ul><li>Revenue is the amount of money that comes into a company from the sale of its products or services.For a street vendor it is the money he collects for selling his fruits and vegetables. </li></ul><ul><li>Profit is the money left after deducting the cost of those goods. </li></ul><ul><li>Profit margin , is the money you get to keep as a percentage of total revenues.                    </li></ul><ul><li>Read the complete post at www.aahang.wordpress.com       </li></ul>Street vendor in Mumbai