The acronym 'BYOD' stands for Bring Your Own Device, a policy allowing employees to use their personal devices, like smartphones and laptops, for work purposes. This approach can enhance productivity and employee satisfaction by providing flexibility. However, it also raises concerns regarding security and data privacy, as personal devices may not meet the same security standards as corporate hardware. Consequently, businesses must implement security protocols to mitigate risks associated with potential data breaches and compliance issues while supporting BYOD.