Demonetization
What Is Demonetization?Demonetization is the act of stripping a currency unit of its status as legal tender. It occurs whenever there is a change in national currency. The current form or forms of money is pulled from circulation and retired, often to be replaced with new notes or coins. Sometimes, a country completely replaces the old currency with a new currency.KEY TAKEAWAYSDemonetization is a drastic intervention into the economy that involves removing the legal tender status of a currenc...
Demonetization
What Is Demonetization?Demonetization is the act of stripping a currency unit of its status as legal tender. It occurs whenever there is a change in national currency. The current form or forms of money is pulled from circulation and retired, often to be replaced with new notes or coins. Sometimes, a country completely replaces the old currency with a new currency.KEY TAKEAWAYSDemonetization is a drastic intervention into the economy that involves removing the legal tender status of a currenc...
Game Theory
What Is Game Theory?Game theory is a theoretical framework for conceiving social situations among competing players. In some respects, game theory is the science of strategy, or at least the optimal decision-making of independent and competing actors in a strategic setting.KEY TAKEAWAYSGame theory is a theoretical framework to conceive social situations among competing players and produce optimal decision-making of independent and competing actors in a strategic setting. Using game theory, re...
Game Theory
What Is Game Theory?Game theory is a theoretical framework for conceiving social situations among competing players. In some respects, game theory is the science of strategy, or at least the optimal decision-making of independent and competing actors in a strategic setting.KEY TAKEAWAYSGame theory is a theoretical framework to conceive social situations among competing players and produce optimal decision-making of independent and competing actors in a strategic setting. Using game theory, re...
Joint Venture (JV)
What Is a Joint Venture (JV)?A joint venture (JV) is a business arrangement in which two or more parties agree to pool their resources for the purpose of accomplishing a specific task. This task can be a new project or any other business activity. In a JV, each of the participants is responsible for profits, losses, and costs associated with it. However, the venture is its own entity, separate from the participants' other business interests.KEY TAKEAWAYSA joint venture (JV) is a business...
Joint Venture (JV)
What Is a Joint Venture (JV)?A joint venture (JV) is a business arrangement in which two or more parties agree to pool their resources for the purpose of accomplishing a specific task. This task can be a new project or any other business activity. In a JV, each of the participants is responsible for profits, losses, and costs associated with it. However, the venture is its own entity, separate from the participants' other business interests.KEY TAKEAWAYSA joint venture (JV) is a business...
Money Laundering
What Is Money Laundering?Money laundering is the illegal process of making large amounts of money generated by a criminal activity, such as drug trafficking or terrorist funding, appear to have come from a legitimate source. The money from the criminal activity is considered dirty, and the process “launders” it to make it look clean. Money laundering is a serious financial crime that is employed by white-collar and street-level criminals alike.1 Most financial companies have anti-money-launde...
Money Laundering
What Is Money Laundering?Money laundering is the illegal process of making large amounts of money generated by a criminal activity, such as drug trafficking or terrorist funding, appear to have come from a legitimate source. The money from the criminal activity is considered dirty, and the process “launders” it to make it look clean. Money laundering is a serious financial crime that is employed by white-collar and street-level criminals alike.1 Most financial companies have anti-money-launde...
Outsourcing
What Is Outsourcing?Outsourcing is the business practice of hiring a party outside a company to perform services or create goods that were traditionally performed in-house by the company's own employees and staff. Outsourcing is a practice usually undertaken by companies as a cost-cutting measure. As such, it can affect a wide range of jobs, ranging from customer support to manufacturing to the back office. Outsourcing was first recognized as a business strategy in 1989 and became an int...
Outsourcing
What Is Outsourcing?Outsourcing is the business practice of hiring a party outside a company to perform services or create goods that were traditionally performed in-house by the company's own employees and staff. Outsourcing is a practice usually undertaken by companies as a cost-cutting measure. As such, it can affect a wide range of jobs, ranging from customer support to manufacturing to the back office. Outsourcing was first recognized as a business strategy in 1989 and became an int...
