Corrected entry: At the end of this short film, Howard Stark tells Peggy Carter that he wants her to run S.H.I.E.L.D. With him. However it wasn't until the end of the first "Iron Man" film, which takes place several decades later, that S.H.I.E.L.D. Started using the acronym. Before that they were known as the Strategic Homeland Intervention and Enforcement Logistics Division. Agent Coulson even states a couple times in "Iron Man" that they were working on simplifying their name. (00:00:45)
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Correction: This is wrong. A government agency has to introduce themselves with the full name of the organization. It is why all identification has the initials and the agency's name. The one time Coulson mentions anything about shortening the name was done as a joke.
MasterOfAll