What is the Crime of Obstruction of Justice? Obstruction of justice is an intentional act carried out with the intent to obstruct the legislative or judicial process. This charge seeks to protect legislative, judicial, and administrative proceedings. Related Topics Criminal Law (Intro) What is Criminal Law? What are the elements of a crime? Classifi...

What is the Systems Approach to Management? The Systems Approach to management theory, commonly viewed as the foundation of organizational development, views the organization as an open system made up of interrelated and inter-dependent parts that interact as sub-systems. Thus the organization comprises a unified singular system made up of these sub...

What are Loudermill Rights? Loudermill rights provide a public sector employee the right to a hearing or opportunity to contest the reasons for involuntary termination (firing). How do  Loudermill Rights Work? Loudermill rights are also known as Loudermill hearing. The term has been in practice since 1985 after the hearing conducted by the Supreme c...

What is Leadership as a Continuum Model? This model was proposed by Robert Tannenbaum and Warren Schmidt, who detailed numerous leadership styles ranging from highly-autocratic to very laissez-faire. The styles include: Leader makes the decision and communicates it to subordinates. Leader makes the decision and convinces subordinates as to its valid...

What is the Ambiguity Principle in Insurance? In the insurance industry, the ambiguity principle is a rule that protects the insured from obscurity and inexactness that might be contained in an insurance policy or contract. This principle maintains that if an insurance has no clear terms or open to more than one interpretation, the meaning that favo...

Why is Product Packaging Important?  How we package our product is important for how we create or increase consumer value. A key functions of a product's packaging is preserving the product or keeping it safe. Keeping it from being damaged in transportation or keeping it fresh during storage. Packaging can also make the product easier to use. Think ...

What is the Business Cycle? From a conceptual observation, the business cycle is defined as the economy-wide fluctuations in trade and the general economic activity. The cycle is upward as well as the downward movement of various levels from gross domestic products.  More simply, the business cycle signifies variations in the production of goods and...

What is a Product Life Cycle? Product life cycle measures the total lifespan of a product. It begins when a product is first conceived in the development stage and continues through when it first goes to market. Finally, it ends when the product is removed from the market.  Product life cycles are broken down into five distinct phases:  development,...

What is a Schedule K-1? A Schedule K-1 refers to a tax form that businesses partners use to report their partnership earnings or income, losses, dividends and credits. A schedule K-1 is a tax document that the Internal Revenue Service (IRS) requires business partners to file for tax purposes. The tax document is prepared to report each partners shar...

What is a Fairness Opinion? Fairness Opinion is a term commonly used in finance and investment market. It refers to the professional opinion given by a financial advisor, a professional third party or an investment bank on whether the terms and price of a transaction is favorable to both parties involved. Fairness opinion is given after the transact...