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In this video tutorial, the presenter explains the concept of a Business Requirements Document (BRD), highlighting its significance, especially in waterfall organizations. The BRD is described as a foundational deliverable in business analysis, typically resulting from extensive work. It serves as a formal contract between business owners requesting software features and the designers and developers who will implement them. The tutorial includes a deep dive into the various components of a BRD, providing a generic example as a potential starting point for organizations without an existing BRD template. If a template exists, it is likely to be similar, with minor adjustments to better fit specific needs.