Do you know these business abbreviations? CEO, Inc., Ltd., HR…

Do you know these business abbreviations? CEO, Inc., Ltd., HR…


Hi. I’m Rebecca from engVid. In this lesson,
you’ll learn 10 common abbreviations that you should know if you work or want to work
in the business world. Okay? It’s possible you have heard many of these, and possibly
not. So, let’s make sure that you know all of them. Okay. So, first I’m just going to read them to you,
and you can see if you’ve heard them before or if you know what they are.
Okay? “CEO”, “PR”, “HR”, “ISO”, “ROI”, “MBA”, “VAT” or “V-A-T”,
“USP”, “Ltd.”, and “Inc.” Okay? So, possibly you’ve
heard some of these before. Let’s go into them
in more detail. So, what is a “CEO”, or
better still: Who is a CEO? So, a “CEO” stands for “Chief
Executive Officer”. Okay? And the Chief Executive Officer is the
most senior executive in a corporation, in a for-profit corporation. Okay?
So he’s the topmost executive. All right? That’s the CEO. “PR”. Okay? What
does “PR” stand for? “PR” stands for public relations.
So, this term could define the field or it could def-…
Describe a department in a particular company or corporation. And what is the job of this
department? Their job or their responsibility is to spread information to the public about
the organization, about the corporation, maybe in the form of new developments, in the form of
press releases. Okay? If there’s a crisis… Or even if something negative happens, it’s
the job of the public relations department to communicate that in a positive way. Sometimes they
have a different section, crisis communications, but basically, “PR” stands for
“public relations”. Good. “HR”. Okay? So, “HR” is something that you
probably have heard before, especially if you’ve ever been for a job interview, you
might have met an HR representative. So, “HR” stands for “human resources”. Now, the term
“human resources” can, again, refer to the entire field of managing people, it can refer
to a particular department in a company that is responsible for all of the personnel that
work in that organization or that company. All right? It’s responsible for hiring them, for
training them, and for all the administration that has to do with the staff or the personnel
that work in that company. Okay? But HR, as in human resources, can also just refer to
the people themselves-okay?-who work in a particular place. All right. Next is “ISO”. All right? Now, this stands for
“International Organization for Standardization”. Okay? It’s a long name for a very important
organization, and it’s a group that basically confers or gives quality certification to
different companies for their products, for their materials, for their processes. They
set quality benchmarks or quality standards. Okay? So you might see in a particular company
that they are ISO 9,000 certified or something like that, and that’s very important because
it indicates that they have a certain degree of quality in that organization regarding that
area. Okay? So it’s basically an organization that sets quality benchmarks, ISO.
Okay? Next is “ROI”. Okay? So “ROI” has to do with
finance. And it’s basically… Stands for, first of all, “return
on investment”. “ROI”, “return on investment”. So, ROI is a profitability ratio that helps finance people to determine
if a particular investment is going to give them profit or give them savings. All
right? So that’s what the “ROI” stands for, “return on investment”, and it’s
a profitability ratio. Okay. Next: “MBA”. That, you probably have heard
of. Okay? We might hear somebody saying: “He has an MBA.” Okay? Now, you noticed that I said “an MBA”.
Why did I say “an MBA”? Do you know? Usually, we say “an” before a
vowel. Right? But, it’s not only before a vowel. It’s actually before anything that has a vowel
sound. So the… The letter “m” is like “e-m”, “em”, so therefore, we
cannot say: “He has a MBA”, we say: “He has an
MBA.” All right? Or: “He is an MBA.” We also say that. And an “MBA” stands for
“Master of Business Administration”. So, it’s a graduate business degree. Okay? It’s
a very popular graduate degree in business. All right? Next is “VAT” or
“value-added tax”. So, value-added tax is a very
common tax on goods and services, usually in Europe-okay?-you’ll hear this a
lot. “Is the VAT included in the price?” The value-added tax. Okay? There are different
taxes, of course, in every country and every part… Or part of the
world, but a VAT… VAT is a very popular common
tax in Europe especially. All right, “USP”. So, what’s “USP”? “USP”
stands for “unique selling point” or “unique selling proposition”, and that’s
a term from the field of marketing. So, your USP… If you’re
selling a product, then it has to have a USP. It has
to have something special about it that will make people want to buy your
product, and that special thing, that special quality, that special something is the…
Your USP, your unique selling proposition that makes people choose your
product over another product. Okay? Next we have two terms that are very commonly used:
“Ltd.” And “Inc.” And both of them basically refer to corporations that have been incorporated,
in fact. Okay? What does that mean when something is limited? What is actually limited, do you
know? What’s limited is the liability, which is the financial responsibility in case there
are any debts. In case the company loses money, then the corporation, which is an entity,
which is a body by itself is the one that people come to to try to collect their money;
and they don’t go to particular individuals, to people, to their homes to get their money.
So, that’s what’s “limited”. It’s actually “limited liability” or responsibility for
financial burdens. Okay? So, don’t say “Ltd.” Some people, by mistake, say: “Ltd.”, it’s not
really correct. You should say: “Limited”, even though you see “Ltd.” in short. And this one
is sometimes pronounced “Inc.” or otherwise, you say the whole term, which
is “incorporated”. Okay? So, let’s just review quickly.
What’s HR? Human resources. What’s ROI? Return on investment. Good. What’s VAT? Value-added tax. Who’s the CEO? Chief Executive Officer. What’s your USP? Unique selling proposition. What’s PR? Public relations. What’s the ISO? Well, you
don’t have to know the actual “International Organization
for Standardization”, just know that it’s… What it does. Okay? So it
sets those quality benchmarks, quality standards. And MBA is your Master of Business Administration. And
these terms: “Ltd.”, “Inc.” refer to limited liability, which means that
the company is incorporated. Okay? So, if you want to know more about these,
if you want to practice them and get really comfortable with these terms and these abbreviations,
please go to our website: www.engvid.com. There, you can do a quiz on this. You’ll also
have a chance to see these written out, like “CEO, Chief Executive Officer”,
and so on, in our quiz, so you’ll have a chance to reinforce
what you already know so well now. Okay? All the best with your English.
Bye for now.

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About the Author: Oren Garnes

36 Comments

  1. You are wonderful teacher…I found you while searching the Rebecca movie.Please also recommend the songs,movie clip or movie ,TV series episode,it will be more fun to learn in such a way.

  2. I tried to search the definitions of the Business English abbreviations in this lesson for you guys.

    CEO = chief ​executive ​officer
    PR = public ​relations
    HR = human resources
    ISO = International Organization for Standardization (an ​organization that makes ​international ​rules about the ​quality of ​products and ​services)
    ROI = return on investment
    MBA = ​Master of Business Administration (an ​advanced ​degree in ​business, or a ​person who has this ​degree)
    VAT = value ​added ​tax (a ​type of ​tax in ​European ​countries that is ​paid by the ​person who ​buys ​goods and ​services)
    USP = ​unique ​selling ​proposition (a ​feature of a ​product that makes it different from and ​better than other ​similar ​products and that can be ​emphasized in ​advertisements for the ​product)
    Ltd. = limited ​liability ​company (used in the ​name of a ​company whose ​owners have ​limited ​responsibility for the ​money that it ​owes)
    Inc. = incorporated

    Hoping, after you guys studied this lesson and read my comment, you would gain more understanding in the lesson.

  3. Hello Rebecca You are really gud teacher but i need your help plz Make a video on Using of Crimes Related Words like Allegedly , Committed ,accuse,acquitted, Convict And So on Please, This is Gaurav (08750897663)

  4. You MUST limit your OK's. 127 MUST be the limit for one lesson. I am Russian. After 285 OKs I feel the urgency to stop your diarrhea of OKs.

  5. You are the best of the bests, highly appreciate your lessons and way you explain; can you do writing lessons to teach punctuations

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