Meaning of the word "business practice" in English

What does "business practice" mean in English? Explore the meaning, pronunciation, and specific usage of this word with Lingoland.

business practice

US /ˈbɪz.nɪs ˌpræk.tɪs/
UK /ˈbɪz.nɪs ˌpræk.tɪs/
"business practice" picture

Noun

a method, procedure, process, or rule employed or followed by a company in the pursuit of its objectives

Example:
The company was criticized for its unethical business practices.
Standard business practice requires all contracts to be in writing.