Acronyms-blog-1

Best Business Acronyms Explained

acronym  (noun)

an abbreviation consisting of the first letters of a series of words in the name or title of something or a phrase, pronounced as a single word.

Acronyms have always been prevalent in business environments as an acceptable form of shorthand. With so many of us now working remotely, email and direct messaging is more important than ever, and any level of abbreviation can help us to speed up communication and save valuable time. That is provided you know how to decipher them!

Remember that you are still writing in a business context; whilst sometimes you can afford to be less formal, do not cross the line in to unprofessionalism by being too colloquial. Also be aware that sentences containing too many acronyms can become unintelligible, so refrain from over use.

So to avoid the arkward situation of having to ask for clarification, here are some of the Best Business Acronyms Explained (BBAE isn’t one of them).

Know Your Business.

B2B ………. Business To Business

B2C ………. Business To Customer

BD ……….. Business Development

SMB ………. Small to Medium Business

KPI ………. Key Performance Indicator, a way of measuring something crucial to business success

Who’s who in the boardroom?

CEO ………. Chief Executive Officer

CFO ………. Chief Financial Officer

COO ………. Chief Operating Officer

CTO ………. Chief Technology Officer

VP ……….. Vice President

Departments and Divisions.

HR …….…. Human Resources

CRM ………. Customer Relationship Management

CSR ………. Corporate Social Responsibility

R&D ………. Research & Development

QC …….…. Quality Control

PR …….…. Public Relations

Time frame time savers.

YTD ………. Year To Date

MOM ………. Month Over Month, that month’s figures compared with previous month’s

QOQ ………. Quarter Over Quarter, that quarter’s figures compared with previous quarter’s

YOY ………. Year Over Year, (you guessed it…) that year’s figures compared with previous year’s

EOD ………. End Of Day, also EOP (play), EOW (week), EOT (thread)

COB ………. Close of Business

Financially yours.

AP …….…. Accounts Payable, Invoices that need to be paid by the business

AR …….…. Accounts Receivable, Invoices that the business send out for payment

P/E …….…. Price to Earnings, market price per share divided by actual earnings per share

P&L ………. Profit and Loss, business revenue, costs and expenses earned and incurred

ROI ………. Return On Investment, also ROA (assets) and ROE (equity)

TOS ………. Terms Of Service, also T&C (Terms & Conditions)

CPU ………. Cost Per Unit

EBIT ……… Earnings Before Interest & Tax

Telling it how it is.

IAM ………. In A Meeting

FYI ………. For Your Information

OOO ………. Out Of Office

ICYMI …… In Case You Missed It

LMK ………. Let Me Know

OMW ………. On My Way

OTP ………. On The Phone

WFH ………. Working From Home

TL;DR ………. Too Long; Didn’t Read (to be used with caution!)

WTFWYT ……. Again, best avoided.

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