Custom Search

Business administration facts

Depreciation refers to the decline in value of physical assets over their estimated useful lives.

Capital projects are long-lived physical assets for which the promulgation and revision of tax laws may affect the tax liability.

Risk assessment provides decision makers with information about the risk exposure inherent in a given decision, that is, the probability that the outcome will be different from the "best guess" estimate.

Risk assessment: As applied to economic decisions, the body of theory and practice that helps decision makers assess their risk exposures and risk attitudes in order to increase the probability that they will make economic choices that are best for them.

Understanding marketing

Marketing in a professional service firm is simply about meeting and exceeding clients' expectations.
In a competitive environment, there is often very little to differentiate one service organization from another. Differentiation begins with the quality and caliber of the people in the organization, and their ability to deliver on everything they promise in order to meet and exceed clients' expectations.

Reference: The Engineers Journal of Ireland, vol. 59: June 5, 2005
Article by Sheena Lowey on "Successful marketing for your firm"

Main page for science and engineering