Record losses exceeded that in this big enterprise, initially (3,2,2)
I believe the answer is:
let it be
'record' is the definition.
(song by The Beatles)
'losses exceeded that in this big enterprise initially' is the wordplay.
'initially' suggests taking the first letters.
The first letters of 'losses exceeded that in this big enterprise' is 'LET IT BE'.
(Other definitions for let it be that I've seen before include "Single" , "Beatles record" , "Beatles album" , "Beatles song - don't interfere!" , "title?" .)