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Home Categories Business Essentials The Balanced Scorecard is a performance metric used to define, improve, and monitor various business functions and results. In a horizontal financial analysis, the figures for the first reporting period serve as the basis for comparing subsequent periods. Batch processing is a method of automating and processing multiple transactions as a single group. Best practices are operating standards or ethical principles that provide the best course of action in a given situation. The Board of Governors is a group of people appointed to oversee the activities of an organization, including financial matters. A standard language is a single text that can be found in various standard documents such as contracts. Traditional business refers to a traditional business that has a physical store or stores where customers browse and shop in person. A brown bag meeting is an informal meeting that takes place in the workplace, usually at lunchtime. When a company or government agency buys or leases existing manufacturing facilities to launch new manufacturing activities, this is called an investment in existing facilities. Burnout rate is the rate at which a new company uses up its start-up capital before it generates positive cash flow.