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Burden
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Bureau of Economic Analysis
A federal agency of
the U.S. Department of Commerce that
calculates and reports the gross domestic
product (GDP). The Commerce Department
also calculates personal income, corporate
profits, and current account balance.
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Bureau of Labor Statistics
A federal agency of
the U.S. Labor Department that tracks all
aspects of the labor market, such as
employment projections, unemployment
numbers, employee compensation reports,
and a host of other labor-related information.
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Business
Any corporation, partnership,
individual, sole proprietorship, joint stock
company, joint venture, or other private
legal entity.
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Business Continuity Plan
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Business Cycle
Alternating periods of economic
growth and contraction. Sometimes
characterized as prosperity, recession,
depression, and recovery. (Schiller 2000)
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Business Interruption Insurance
Insurance
coverage that replaces the lost income of a
business from physical damage or loss, e.g.,
fire, flooding, natural disaster, epidemic, labor
unrest.
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Business Plan
A document that describes in
detail a business' objectives and its step-bystep
plans for achieving them.
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Business Process Improvement (BPI)
Various
methodologies used by management that
analyze procedures to identify the areas in
which accuracy, effectiveness, or efficiency
can be redesigned to realize improvements.
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Business Process Outsourcing
To carve out an
internal business process such as information
technology (IT) or human resources (HR) and
outsource those processes to private entities
to reduce costs and improve efficiency.