What Is a Business Plan? A business plan is a document that defines in detail a company’s objectives and how it plans to achieve its goals. A business plan lays out a written road map for the firm from marketing, financial, and operational standpoints. Both startups and established companies use business plans. A business plan
What Is Business Process Outsourcing (BPO)? Business process outsourcing (BPO) is a method of subcontracting various business-related operations to third-party vendors. Although BPO originally applied solely to manufacturing entities, such as soft drink manufacturers that outsourced large segments of their supply chains, BPO now applies to the outsourcing of various products and services. Key Takeaways Business process
What Is a Bumbershoot Policy? The Bumbershoot policy is a specialized form of excess liability insurance targeted to the maritime industry. The Bumbershoot coverage most often adds to the protection from an umbrella liability policy. These policies cover dry and wet incidents for maritime and non-maritime activities. Key Takeaways Bumbershoot policies are a type of
What Is a Bump-Up Certificate of Deposit? A bump-up certificate of deposit (bump-up CD) is a savings certificate that entitles the bearer to take advantage of rising interest rates with a one-time option to “bump up” the interest rate paid. The bump-up CD yields a lower rate than that of a similar CD with no
What Is the Bundesbank? The Bundesbank, or Deutsche Bundesbank, is the central bank of Germany and is the equivalent of the U.S. Federal Reserve. It is located in Frankfurt, Germany, and it has a group of nine regional offices throughout the country—in Berlin, Dusseldorf, Frankfurt am Main, Hamburg, Hanover, Leipzig, Mainz, Munich, and Stuttgart. Like most central
What Is a Bundle of Rights? A bundle of rights is a term for the set of legal privileges that is generally afforded to a real estate buyer with the transfer of the title. The bundle includes the following: The right of possessionThe right of controlThe right of exclusionThe right of enjoymentThe right of disposition
What Is Bundling? Bundling is when companies package several of their products or services together as a single combined unit, often for a lower price than they would charge customers to buy each item separately. Key Takeaways Bundling is a marketing strategy where companies sell several products or services together as a single combined unit.The
What Is Burden of Proof? Burden of proof is a legal standard that determines if a legal claim is valid or invalid based on the evidence produced. The burden of proof is typically required of one party in a claim, and in many cases, the party that is filing a claim is the party that
What Was the Bureau of Public Debt? The Bureau of Public Debt was an agency within the United States Department of the Treasury that was responsible for borrowing funds for the federal government to use, maintaining accounts of the government’s outstanding debts, and providing services to other federal government agencies. Key Takeaways The Bureau of
What Is a Bureaucracy? The term bureaucracy refers to a complex organization that has multilayered systems and processes. The systems and processes that are put in place effectively make decision-making slow. They are designed to maintain uniformity and control within the organization. A bureaucracy describes the methods that are commonly established in governments and large organizations
