Meaning of the word "business unit" in English

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

business unit

US /ˈbɪz.nɪs ˈjuː.nɪt/
UK /ˈbɪz.nɪs ˈjuː.nɪt/

Noun

a part of a company that operates as a separate entity, often with its own management, strategy, and financial reporting

Example:
Our company has several distinct business units, each focusing on a different market segment.
The new CEO plans to restructure the company into more autonomous business units.