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• GlennMontoya

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ABBREVIATIONS Test your knowledge of business abbreviations and acronyms. Look at these abbreviations, then complete the crossword grid on the next page with the words that are missing from their complete forms.

ACROSS 2. EU = European Union. 4. MBO = management buyout (the letters B and O are used in one word) 8. USP = unique selling point/proposition. 9. AOB = any other business. 11. PEST analysis = political, social, economic and technological analysis. 13. MD = Managing Director. 14. ROI = return on investment. 15. M & A = merger and acquisitions. 17. OTE = on-target earnings. 19. PAYE = pay as you earn. 20. VAT = Value Added Tax. 22. SWOT analysis = strengths, weaknesses, opportunities and threats analysis. 25. CEO = Chief Executive Officer. 26. CV = curriculum vitae. 27. TNA = trainee needs analysis. 29. TOIL = time off in lieu. 32. RRP = recommended retail price. 34. CFO = Chief Financial Officer. 37. FAQ = frequently asked question. 38. RSI = repetitive strain injury. 39. RPI = retail price index. 41. p.a. = per annum. 43. APR = annual percentage rate. 45. ICC = International Chamber of Commerce. 49. FYI = for your information. 51. NPD = new product development. 52. SET = secure electronic transaction. 54. GDP = gross domestic product. 56. VIP = very important person.

DOWN 1. TQM = total quality management. 3. PPP = purchasing power parity. 5. PLC = public limited company. 6. AGM = annual general meeting. 7. PR = public relations. 10. L/C = letter of credit. 12. MBA = Master of Business Administration. 15. O & M = organization and methods. 16. HR = human-resources. 18. POS = point of sale. 21. P & L statement = profit and loss statement. 23. ASAP = as soon as possible. 24. CBD = central business district. 28. COD = cash on delivery. 30. LIFO = last in, first out. 31. NVQ = National Vocational qualification. 33. GNP = gross national product. 35. NI = National Income. 36. CPD = continuing professional development. 40. ESOP = employee stock ownership plan. 42. In £20K, K means thousand. 44. EFT = electronic funds transfer. 46. R & D = research and development. 47. P & P = postage and packing. 48. ISP = Internet service provider. 50. FOB = Free on board. 53. IOU = I owe you. (Be careful: the word you need does not begin with the letter u) 55. JIT production = Just-in-time production.

Sentences: 2. EU (European Union) - The EU has no plans to expand further until the euro is fixed. 4. MBO (management buyout) - The MBO offer was significantly higher than the market price. 8. USP (unique selling point/proposition) - As an entrepreneur, you will need to develop your own USP. 9. AOB (any other business) - It's nearly time for lunch, so let's move to any other business. 11. PEST analysis - A PEST analysis is concerned with the economic influences on a business. 13. MD (Managing Director) (similar to CEO) - The managing director of this company will be here tomorrow for a discussion about the company's achievement for this quarter and our new goals for the rest of the year. 14. ROI (return on investment) - When thinking about if something will end up being profitable for your company you need to accurately analyze the return on investment. 15. M & A (mergers and acquisitions) - M & A is a great strategy to increase revenue. 17. OTE (on-target earnings) - On-target earnings represent the salary and commission payments for all sales made by salespeople. 19. PAYE (pay as you earn) tax - PAYE is deducted from each paycheck by the employer and must be remitted quickly to the government. 20. VAT (Value Added Tax) -The Government is considering the extension of value-added tax to newspapers, magazines and books. 22. SWOT analysis (strengths, weaknesses, opportunities and threats analysis)

-Before producing a business development plan, it may be helpful to carry out a SWOT analysis. 25. CEO (Chief Executive Officer) -The biggest problems faced by the CEO of a large corporation are more complex than those encountered on the shop floor. 26. CV (curriculum vitae) -Be sure to attach your CV and a cover letter. 27. TNA (trainee needs analysis) -The company did a training needs analysis to help identify specific areas for staff development. 29. TOIL (time off in lieu) -Not all companies give their staff time off in lieu' for working extra hours or days. 32. RRP (recommended retail price) -The publisher may include the recommended retail price on the cover of the book. 34. CFO (Chief Financial Officer) -As CFO he was responsible for the financial situation of a company employing more than 3,000 staff. 37. FAQ (frequently asked questions) -If you don't know what this website is about, you can check the FAQ section. 38. RSI (repetitive strain injury) - The ideal management of any case of RSI involves a doctor well acquainted with the subject, and a good physiotherapist. 39. RPI (retail price index) -The state pension is increased annually in line with the retail price index. 41. p.a. (per annum) - The company’s revenue increases about 5% per annum. 43. APR (annual percentage rate) -The bank is offering a 6.4% APR on loans of over £7,500. 45. ICC (International Chamber of Commerce)

- International Chamber of Commerce makes sure that international trade is based on clear rules. 49. FYI (for your information) - For your information, this is a genuine designer purse. 51. NPD (new product development) - She now heads global marketing, with responsibility for new-product development. 52. SET (secure electronic transaction) - SET was supported initially by Mastercard, Visa, Microsoft, 54. GDP (gross domestic product) -f the GDP continues to shrink, the country will be in a recession. 56. VIP (very important person) -The airport has a special lounge for VIPs only.