Everything you need to know about the differences between standard costing and budgetary control. Budgetary control and standard costing have the common objective of cost control by establishing pre-determined targets. These two techniques are similar in certain respects but differ in respect of other points. Budgetary control is a system of planning and controlling costs. It involves the establishment of [...]
Everything you need to know about the key differences between personnel management and human resource management. Personnel management is more administrative in nature, dealing with payroll, complying with employment law and handling related tasks. While HR on the other hand, is responsible for managing a workforce as one of the primary resource that contributes to the success of an organization. [...]
Everything you need to know about the key differences between training and development. Training and development differ from each other in terms of their content and objectives. Steinmetz (1969) has differentiated them. According to her, while training is a short term process by which non-managerial personnel learn technical knowledge and skills for a definite purpose, the term 'development' is a [...]