Business Process Management (BPM) includes methods, techniques, and tools to support the design, enactment, management, and analysis of operational business processes. It can be considered as an extension of classical Workflow Management (WFM) systems and approaches. Although the practical relevance of BPM is undisputed, a clear definition of BPM and related acronyms such as BAM, BPA, and STP are missing. Moreover, a clear scientific foundation is missing. In this paper, we try to demystify the acronyms in this domain, describe the state-of-the-art technology, and argue that BPM could benefit from formal methods/languages (cf. Petri nets, process algebras, etc.).