Every business develops a strategy. Planning ahead for a variety of possible outcomes is an important management skill. When we say “strategic,” we mean “designed to achieve a goal,” and as we…
Tag: Definition
Strategic Financial Management – Definition, Process, Elements and Characteristics
Aspects of a company’s overall financial goal and strategy is called as strategic financial management. This includes several aspects of the company’s strategic plan, such as the marketing and sales strategy, the…
Actuarial Science Definition, Examples and Importance
With the strengthening of the country’s economy and the rapid expansion of its business sector, there is a significant demand for highly qualified professionals who are well-versed in actuarial science and are…
What is an Actuary? Definition, Examples & How Actuary Works
The insurance sector employs the vast majority of actuaries. An insurance actuary is someone who makes a livelihood by analyzing risk. This is accomplished by the application of statistics, and financial mathematics….
What is Insurance? Definition, Premium Meaning, How it Works?
There are no guarantees or certainties in life. There is no guarantee that the business won’t incur unexpected damages or loss. Although we are unable to protect this kinds of risks by…