The course of action that will be taken by a party engaged in negotiations if the talks fail and no agreement can be reached. The term BATNA was coined by negotiation researchers Roger Fisher and William Ury in their 1981 bestseller "Getting to Yes: Negotiating Agreement Without Giving In." A party's BATNA refers to what they can fall back on if a negotiation proves unsuccessful. BATNAs may be developed for any situation that calls for negotiations, from negotiating a pay hike to resolving complex conflicts. While a BATNA may not always be easily identifiable, Fisher and Ury have outlined a simple three-step process for determining it: Develop a list of actions to take if no agreement is reached; convert the more promising ideas into practical options; and tentatively select the option that seems best.
A stock that is believed to be a leading indicator of the direction of a sector, industry or market as a whole. Bellwether stocks are often used to determine the direction in which an industry or market is headed in the short term. Bellwether stocks are typically large-cap equities that when performing well signal a bullish market but when performing poorly may signal a bearish market. Many different stocks may be classified as bellwethers; however, shipping and rail stocks have historically been particularly good bellwethers for the U.S. economy.
A fall in the price of a stock, sector, or market, or investor sentiment that assumes a fall will happen soon. A bear tack is usually used to describe bearish movement in the short to medium term. In sailing, a tack is a maneuver in which a boat turns its bow to put the wind on the opposite side of the boat. A bear tack is a buzz word that is derived from this sailing term to explain a change in movement of a security or index.
A period in which prices of stocks increase during a bear market. A bear market rally is usually a short-lived market increase following a period of market decline and is followed by another period of market decline leading to a pronounced down trend. Although there are no official guidelines for a bear market rally, it is sometimes defined as an overall market increase of 10-20% during an overall bear market. There are many examples of bear market rallies in modern stock market history, including the bear market rally of the Dow Jones following the stock market crash of 1929, which eventually saw a bottoming out in 1932.
The existence of high start-up costs or other obstacles that prevent new competitors from easily entering an industry or area of business. Barriers to entry benefit existing companies already operating in an industry because they protect an established company's revenues and profits from being whittled away by new competitors. Barriers to entry can exist as a result of government intervention (industry regulation, legislative limitations on new firms, special tax benefits to existing firms, etc.), or they can occur naturally within the business world. Some naturally occurring barriers to entry could be technological patents or patents on business processes, a strong brand identity, strong customer loyalty or high customer switching costs.
A retail store that occupies an enormous amount of physical space and offers a variety of products to its customers. These stores achieve economies of scale by focusing on large sales volumes. Because volume is high, the profit margin for each product can be lowered, which results in very competitively priced goods. The term "big-box" is derived from the store's physical appearance. Located in large-scale buildings of more than 50,000 square feet, the store is usually plainly designed and often resembles a large box. Wal-mart, Best Buy and Ikea are examples of big-box retailers.
A slang term sometimes used to refer to International Business Machines Corporation (IBM). According to the IBM website, the term did not originate from within the company. Rather, the term first appeared in the media in the 1980s. The company site speculates that the term may have been derived from the blue user manuals that came with certain IBM products. Another theory is that the term simply refers to the company's blue logo. According to Fortune, IBM was the 20th largest firm in the United States in 2010, during which the company had approximately 400,000 employees. The company is also noted for its distinctive culture, including a formal dress code that was only relaxed in the early 1990s. Despite increasing competition, the company remains a major player in many areas of computing and technology consulting.
An investing slang term referencing Ben Bernanke. The name Big Ben was given to Bernanke around 2005, when he was appointed to the position of Federal Reserve chairman by President George Bush. The name Big Ben is often used in headlines due to its relative compactness. Analysts also use the slang term, which has no relation to the landmark in London. Bernanke took over the chairman position from Alan Greenspan on February 1, 2006. Before taking over the position, Ben was the Fed governor and chairman of the Council of Economic Advisers.
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