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Value Analysis uses a combination of creative and analytical techniques to identify alternative ways to achieve objectives. Value analysis is an  approach to improving the value of a product  or process by understanding its constituent components and their associated costs. It then seeks to find improvements to the components by either reducing their cost or increasing the value of the functions. Value Analysis is one of the major techniques of cost reduction and control. It is a disciplined approach which ensures the necessary functions for the minimum cost without diminishing quality, reliability, performance and appearance. It is a creative approach to eliminate the unnecessary costs which add neither to quality nor to the appearance of the product. It is a systematic application of techniques to identify the functions of a product or a component and to provide the desired function at the lowest total cost. 🛑Definitions 🛑STEPS IN VALUE ANALYSIS 🛑 ...

it means removing as much of the middleman as possible . To be more specific, it has to do with helping customers get more direct access to items or services by reducing or eliminating third parties It has been several decades since disintermediation was first known (although under other terms), and it seems that disintermediation has become increasingly intense, particularly in the tourism industry where many large hotels and airlines have successfully utilized the Internet and website as a direct channel to sell to their customers Cyber security Cybersecurity is defined as the area related to computing and telematics that focuses on protecting the computer infrastructure and avoiding all types of threats, which put at risk the information that is processed, transported and stored in any device. ONLINE TRAVEL RESERVATION An Online Reservation System is a software you can use for managing reservations for your service .Basically, an online reservation system allows a potent...

PERFORMANCE APPRAISAL SYSTEM MEANING  Performance appraisal is a comprehensive assessment of employee performance and an understanding of a person's abilities for further growth and development. DEFINITION Dale S. Beach, "Performance appraisal is the systematic evaluation of the individual with respect to his or her performance on the job and his or her potential for develop ment". Objectives of Performance Appraisal 1. Salary Increase. Performance appraisal plays a key role in making decision about salary increase. 2. Promotion. Performance appraisal plays a significant role where promotion is based on merit. 3.Training and Development. Performance appraisal tries to identify the strengths and weaknesses of an employee on his present job. 4. Feedback. Performance appraisal provides feedback to employees about their performance. 5. Pressure on Employees. Performance appraisal puts a sort of pressure on employees for better performance. ...

Meaning  & definition of Accounting In 1941, The American Institute of Certified Public Accountants (AICPA) had defined accounting as the art of recording, classifying, and summarising in a significant manner and in terms of money, transactions and events which are, in part at least, of financial character, and interpreting the results thereof’. With greater economic development resulting in changing role of accounting, its scope, became broader. In 1966, the American Accounting Association (AAA) defined accounting as ‘the process of identifying, measuring and communicating economic information to permit informed judgments and decisions by users of information’. 📝 Objectives of Accounting As an information system, the basic objective of accounting is to provide useful information to the interested group of users, both external and internal.  1.Maintenance of Records of Business Transactions Accounting is used for the maintenance of a systematic record of all financial tra...