Following are the important business terms that you should be knowing if you are a beginner in doing a business or is someone who is already doing a business and is willing to get more knowledgeable.
MSME – Micro, Small and Medium Enterprises
CRM – Customer Relationship Management
ERP – Enterprise Resource Planning
OEM – Original Equipment Manufacturer
CAGR – Compound Annual Growth Rate
FIFO – First In, First Out
LIFO – Last In, First Out
PAN – Permanent Account Number
CEO – Chief Executive Officer
CFO – Chief Financial Officer
COO – Chief Operating Officer
FMCG – Fast Moving Consumer Goods
R&D – Research and Development
M&A – Mergers and Acquisitions
P&L – Profit and Loss
SOP – Standard Operating Procedure
IPO – Initial Public Offering
EPS – Earnings Per Share
USP – Unique Selling Proposition
NAV – Net Asset Value
SEM – Search Engine Marketing
B2B – Business to Business
B2C – Business to Consumer
SaaS – Software as a Service
LLC – Limited Liability Company
TQM – Total Quality Management
COD – Cash on Delivery
MOQ – Minimum Order Quantity
KPI – Key Performance Indicator
ROI – Return on Investment
CSR – Corporate Social Responsibility
WACC – Weighted Average Cost of Capital
