Should-cost analysis (SCA) is an evaluation of the cost of a product or service that includes a detailed examination of all the factors that contribute to its price. The purpose of SCA is to identify opportunities for cost reduction without sacrificing quality or performance. SCA begins with a thorough analysis of the product or service’s … Read more
Gross domestic product (GDP) is a measure of the value of all goods and services produced within a country in a given period of time. It is often used as a measure of a country’s economic performance. What is an example of a GDP? An example of a GDP would be a measure of the … Read more
Digital accessibility refers to the practice of making digital content and services accessible to all people, regardless of their ability or disability. This includes making sure that people can access digital content and services using a variety of devices and technologies, including assistive technologies. There are many benefits to making digital content and services accessible. … Read more
The Manufacturer’s Suggested Retail Price (MSRP) is the price that a manufacturer recommends a retailer sell their product for. The MSRP is usually set at a price point that will generate a healthy profit for the retailer while still providing the consumer with a fair price. While retailers are free to set their own prices, … Read more
A corporate email policy is a set of guidelines that dictate how employees of a company can use email for business purposes. The policy may cover topics such as acceptable use of company email accounts, how to handle confidential information, and what to do in the event of a data breach. The goal of a … Read more
Parkinson’s law of triviality, also known as bikeshedding, is the tendency for people to spend more time and energy on relatively unimportant details of a project, while neglecting the more important aspects. The term was coined by British civil servant Cyril Northcote Parkinson in his 1955 essay “The Law of Triviality”. According to Parkinson, “the … Read more
