BUSINESS BREAKDOWN LEAVING CERT ABBREVIATIONS Test 5 Business

BUSINESS BREAKDOWN LEAVING CERT ABBREVIATIONS

� Test 5. Business Terms What do the following letters stand for? (Write each answer in full in the space provided). � 1. SMART ____________________________ � 2. IDA ____________________________ � 3. STISL ____________________________ � 4. TNC ____________________________ � 5. DIRT ____________________________ � 6. JIT ____________________________

ANSWERS

�Test 1 SWOT Strengths Weaknesses Opportunities Threats �TQM Total Quality Management �EDI Electronic Data Interchange �ISDN Integrated Services Digital Network �PAYE Pay As You Earn �PRSI Pay Related Social Insurance �IT Information Technology �VHI Voluntary Health Insurance �ICTU Irish Congress Of Trade Unions �HRM Human Resources Management

�Test 2 SIPTU Services Industrial Professional and Technical Union �EU European Union �EMU Economic and Monetary Union �SEM Single European Market �PR Public Relations �VAT Value Added Tax �USP Unique Selling Point �IBEC Irish Business and Employers Confederation �IFA Irish Farmers Association �ISME Irish Small and Medium Enterprises

�Test 3 PLC Public Limited Company �ROI Return on Investment �VDU Visual Display Unit �APR Annual Percentage Rate �ATM Automated Teller Machine �PC Personal Computer �ICT Information and Communications Technology �WWW World Wide Web �B/E Break Even �BES Business Expansion Scheme

�Test 4 EPA Environmental Protection Agency �BOP Balance of Payments �GNP Gross National Product �WTO World Trade Organisation �CAP Common Agricultural Policy �JLC Joint Labour Committee �Ltd. Private Limited Company �LRC Labour Relations Commission �CIF Construction Industry Federation �EAT Employment Appeals Tribunal

�Test 5. SMART Specific Measurable Agreed Realistic and Timing �IDA Industrial Development Authority �STISL Short Term Inherently Self Liquidating Loan �TNC Trans National Company �DIRT Deposit Interest Retention Tax �JIT Just In Time