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ToggleDecoding Business Jargon: Essential Abbreviations for Seamless Corporate Communication
Abbreviations are used to make words or sentences shorter. The term “abbreviation” refers to a collection of letters or words extracted altogether from a word or phrase. It is crucial to be familiar with the full versions of the many words that are used in shortened form. People rarely recognize the entire form of acronyms because they are used so frequently. However, you must be aware of the complete form to fully comprehend the meaning.
Here’s a List of General Abbreviations:
KPI: Key Performance Indicator
Key Performance Indicator is the term’s full name. KPIs are crucial indicators of progress toward a targeted result. It fosters an orientation for organizational and strategic change, establishes an impartial foundation for decision-making, and aids in maintaining focus on what is important.
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KPIs, or key performance indicators, are a group of quantitative indicators that support the organization’s strategic goals and allow you to work toward achieving and tracking your success over time. High-level KPIs typically monitor an organization’s performance, while low-level KPIs are more focused on specific departmental tasks, such as marketing, support, human resources, advertising, etc.
NIFTY: National Stock Exchange FIFTY
The National Stock Exchange FIFTY is how NIFTY is formally referred to. Nifty 50, Nifty Basic, and Nifty CNX are additional names for it. It serves as a major company benchmark index on the NSE (National Stock Exchange) of India. There are fifty stock exchanges there, spanning 23 different industries.
DTDC : Desk-to-Desk Courier & Cargo
The Desk to Desk Courier & Cargo is how DTDC is officially referred to. Indian courier company DTDC Express Limited is based in Bangalore, Karnataka. DTDC offers services through strategic alliances with important international players in more than 240 different countries.
BHIM: Bharat Interface for Money
Bharat Interface for Money is the official name of BHIM. The National Payments Corporation of India (NPCI) created the app specifically for mobile payments. It focuses on the UPI (Unified Payments Interface), which allows for quick, simple, and speedy money transfers.
PDF: Portable Document Format
Portable Document Format is the official name for PDF. Abode created the PDF file format in the 1990s to display files, including graphics and text formatting, independent of application software, hardware, and operating systems. In other words, it is a secure file type that may be used to show and share information without the usage of software, hardware, or an operating system.
EWS: Economically Weaker Section
EWS, or the Economically Weaker Section, is its full name. Some homes or individuals with incomes below a specific threshold are referred to as EWS. The Union Council of Ministers in India adopted a 10% general category quota in government jobs and educational institutions for the economically weaker section.
“i.e.”: id est
Id est is the complete form of i.e. It is a Latin term that means to be or to put it another way. It is employed to define a previously specified idea. It provides extra details to clearly express a message.
SENSEX: Stock Exchange Sensitive Index
Stock Exchange Sensitive Index is the official name of SENSEX. SENSEX, previously known as BSE (Bombay Stock Market), is the oldest stock market in India. It is a free-floating, economy-weighted index made up of 30 very reputable, financially stable companies that are listed on the BSE.
Noida
Noida, an abbreviation for New Okhla Industrial Development Authority, is a city in the Uttar Pradesh state of India’s Gautam Buddha Nagar district. The National Capital Region (NCR) of India includes Noida, a satellite city of Delhi.
Okhla
Okhla or Old Canal Housing and Land Authority is one of the 12 such estates being constructed in India to support small businesses and thus, Okhla Industrial Estate is a commercial area of New Delhi in South Delhi. It was founded by the National Small Industries Corporation.
HNI: High Net Worth Individual
A person with liquid assets above a specific amount is referred to as a high-net-worth individual (HNI) in the financial sector. People who fit into this category typically have liquid financial assets worth at least $1 million.
DATE: Date and Time Evolution
This is a term we have practically known since the beginning of our lives! It is used every day to track our lives and yet how many of us knew that it is an abbreviation?
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CHESS: Chariot, Horse, Elephant, Soldiers
No points for guessing this right but for a game that has been called by an abbreviation all its life, little would a novice know that this is what the name of the game stood for!
Conclusion
Abbreviations are very important. From documents to businesses to organizations to everything covered in the news, everyone is using them. Therefore, it becomes important to stay aware of the newer terms that are being spoken of or even of the words that we have been using all our lives but never knew what the full form stood for.