Authority and Responsibility are two sides of the same coin. The term ‘authority’ stands for power or rights assigned to an individual to make decisions, whereas ‘responsibility’ is a duty to maintain and...

The terms ‘authority’ and ‘power’ complement each-other. Authority is a legal ability and authorization to exercise power, while ‘Power’ is the ability to control over the authority.

In business functions, Authority and Accountability are the roles, which work hand-in-hand. The ‘authority’ is the right or power assigned to an individual, whereas ‘accountability’ is the ability to handle...

A prominent difference between training and development is that training is concerned with acquisition of new skills, whereas development means adding value to one’s existential skill-set.

Book value is the price paid for a particular asset; the price never changes so long as one owns the asset. Whereas, the market value is the current price at which one can sell an asset.