B2B (Business-to-Business)

Transactions between businesses

Sales or Marketing

B2C (Business-to-Consumer)

Transactions with individual customers

Sales or Marketing

Back Office

Administrative or support functions

Operations

Balance of Trade

Difference between imports and exports

Economics

Bankruptcy

Legal state of insolvency

Legal or Finance

Barriers to Entry

Obstacles new competitors face in an industry

Economics or Strategy

Bartering

Exchanging goods/services without money

Trade

Benchmark Interest Rate

Reference interest rate (e.g., LIBOR)

Finance

Benchmarking

Comparing performance to best practices

Strategy

Benefit Package

Collection of perks and services for employees

HR

Benefit-Cost Ratio (BCR)

Efficiency of an investment or project

Finance

Bid

Offer made in response to a request or auction

Sales or Mrketing

Bill of Lading

Document acknowledging shipment receipt

Logistics

Billable Hours

Time worked that is charged to a client

Services or Finance

Blockchain

Decentralized digital ledger system

Technology or Finance

Blue Ocean Strategy

Creating uncontested market space

Strategy

Board of Directors

Group overseeing a company’s management

Corporate Governance

Bond

Debt security for raising capital

Finance

Bonus

Extra payment based on performance

HR

Bookkeeping

Recording financial transactions

Accounting

Bootstrap

Building a business with minimal external funding

Startups or Finance

Bottom Line

Net profit or earnings

Finance

Brand

Identity representing a company or product

Marketing

Brand Ambassador

Person who promotes and represents a brand

Marketing

Brand Awareness

Degree to which customers recognize a brand

Marketing

Brand Equity

Value added by brand recognition

Marketing

Brand Extension

Launching new products under existing brand

Marketing

Brand Loyalty

Customers’ consistent preference for a brand

Marketing

Branding

Process of creating a unique identity

Marketing

Breach of Contract

Failure to fulfill a contractual obligation

Legal

Break Clause

Provision to terminate agreement early

Legal

Break-even Point

Revenue level where profits = 0

Finance

Bridge Loan

Short-term funding until longer financing is secured

Finance

Budget

Estimated revenue and expenditure plan

Finance

Bureaucracy

Administrative system with rules and procedures

Organization

Burn Rate

Speed at which capital is spent

Startups/ or Finance

Business Analytics

Analysis to support decision-making

Analytics

Business Continuity Plan

Strategy for recovering from disruptions

Risk Management

Business Development

Activities to grow client base or partnerships

Sales

Business Incubator

Program supporting early-stage companies

Startups

Business Intelligence (BI)

Tools and processes for analyzing business data

Analytics

Business License

Government-issued authorization to operate

Legal

Business Model

Framework for generating revenue

Strategy

Business Plan

Document outlining business goals and strategy

Planning

Business Unit

A distinct operational segment of a company

Organization

Business Valuation

Estimating the economic value of a business

Finance

Business-to-Government (B2G)

Selling products or services to government entities

Marketing or Contracts

Buyer Persona

Fictional profile of ideal customer

Marketing

Buyout

Acquiring majority control of a company

Mergers & Acquisitions