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| Balance of Payments |
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| The net flow of money into or out of a country which influences the balance of trade and is affected by additional factors such as military expenditure, overseas investment and foreign aid |
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| Balance of Trade |
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| The flow of money coming in and going out of a country through importing and exporting of products and services |
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| Balance Sheet |
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| A statement of the financial position of a company at a given date |
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| Bankruptcy |
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| A legal condition of an individual whereby the person is unable to fulfil the payment obligations of his or her debtors. |
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| Base Rate |
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| The rate of interest set by the Bank of England, which is used as a base parameter for rates charged by commercial banks for short-term loans to major business firms with high credit standing. See also Prime Interest Rate. |
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| Batch Processing |
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| A method of collecting and scheduling data for computer processing over a given time period |
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| Bears |
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| Investors who expect the stocks and share prices to decline and sell the securities in expectation of declining market prices. See also Bulls |
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| Bill of Materials |
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| A detailed listing of parts and materials needed to produce a product or service |
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| Binary Arithmetic |
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| A method of counting using the digits 0 and 1 |
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| Binary Number |
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| Zero (0) or 1 |
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| Bit |
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| A binary digit 0 or 1. See also Byte |
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| Blue-Collar |
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| The term used to operative employees in a manufacturing organisation |
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| Board of Directors |
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| The governing authority of the company or institution elected by its members or shareholders |
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| Bond |
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| A certificate of indebtedness sold to raise long-term funds for corporations or government agencies |
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| Bonus |
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| An addition to a salary based on a scheme of reward for excellent performance |
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| Book Value |
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| The purchase cost or value of an asset less its depreciation |
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| Bottom Line |
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| The overall profit or loss of a company |
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| Boycott |
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| An attempt to keep people from purchasing goods and services from a company |
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| Brand |
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| A name, term, sign, symbol, design or some combination used to identify a company’s products or service and differentiate it from competitors’ similar products |
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| Brand Name |
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| A part of the brand which consists of words and letters which, make up the name of a company’s product or service that differentiates it from competitors’ similar products |
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| Brand Preference |
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| The stage of brand loyalty at which the consumer will be loyal to the brand as long as the brand is available |
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| Brand Recognition |
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| The stage of brand loyalty at which the consumer becomes familiar with the product or service offering |
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| Breach of Contract |
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| Violation of a valid contract by a party or parties the contract |
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| Breakeven Analysis |
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| The method of determining the breakeven point, which identifies the sufficient sales level required to cover the fixed and variable cost outlays of the company at a certain price point |
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| Breakeven Point |
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| The sales level at which the amount of revenue generated is sufficient to cover the fixed and variable cost outlays of the company at a certain price point |
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| Budget |
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| The financial blue print of a company for a future time period that reflects expected sales revenues, cash flows, operating costs and profits; and used as a planning and monitoring tool |
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| Bulls |
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| Investors who expect stock and share prices to rise and buy securities in anticipation of increased market prices – see also Bears |
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| Burglary Insurance |
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| Insurance coverage for losses of property incurred by thieves using forced entry or other forcible means |
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| Business |
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| An enterprise primarily structured for profit, but includes non-profit institutions that provide goods and services to an economic system fulfilling the needs of a market |
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| Business Critical Mass |
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| A measure of the size that a business needs to attain in order to achieve financial stability in its current market. Once at this level, the business will have developed sufficient market share and acceptance to be resilient to unforeseen normal market fluctuations. |
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| Business Interruption Insurance |
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| A type of insurance designed to cover losses resulting from temporary closure of the business as a result of fire or other specified property damage; typically purchased as an additional provision to normal fire insurance |
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| Business Law |
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| The aspects of law that most directly and specifically influence and regulate the management of various types of business activities |
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| Business Resilience |
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| A measure of the capability of the company to survive financially under conditions brought about by market forces which create the need for the business to remodel restructure or reassess its strategies |
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| Buyer’s Market |
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| A market condition characterised by an adequate or excess supply of a particular good or service |
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| Byte |
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| A character of data made up of bits to form an alpha or numeric character. See also Bit |
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