Test your basic knowledge |

Business Fundamentals

Subject : business-skills
Instructions:
  • Answer 50 questions in 15 minutes.
  • If you are not ready to take this test, you can study here.
  • Match each statement with the correct term.
  • Don't refresh. All questions and answers are randomly picked and ordered every time you load a test.

This is a study tool. The 3 wrong answers for each question are randomly chosen from answers to other questions. So, you might find at times the answers obvious, but you will see it re-enforces your understanding as you take the test each time.
1. A forecast of financial requirements and the financing sources to be used






2. Overall plan for marketing a product: includes the identification of target market segments - a positioning strategy - and a marketing mix






3. Study of statistical characteristics of a population






4. The processes and behaviors used by someone - such as a manager - to motivate - inspire - and influence the behaviors of others






5. The creation and sharing of product-related information among customers and potential customers






6. Power of a good or services to satisfy a human need






7. By making changes in policies or resolving conflicts in the workplace - a manager is working within his or her ____.






8. Skills in defining problems and selecting the best courses of action






9. Paid - nonpersonal communication to a target market from an identified sponsor using mass communications channels






10. The ability to carry out a task






11. Organization in which a great deal of decision-making authority is delegated to levels of management at points below the top






12. In bookkeeping - an increase in assets






13. The union of two corporations to form a new corporation






14. Activities producing tangible products such as radios - newspapers - buses and textbooks






15. Demographics - psychographics - and geographics






16. Media: networks - audience: potential buyers - intensity: passive/active - purpose: inform - persuade - remind






17. Process through which a manager allocates work to subordinates






18. Top manager who is responsible for the overall performance of a corporation






19. When the seller doesn't set a firm price but allows buyers to competitively bid on the products being sold






20. ____ strategy is a plan to reverse negative trends in a company - such as the losses in sales.






21. Brief statement or video program released to the press announcing new products - management changes - sales performance - and other potential news items






22. Efforts a company makes to satisfy its customers to help them realize the greatest possible value from the products they are purchasing






23. Law made by the authority of administrative agencies






24. Unwelcome sexual advances in the workplace






25. Planning and control tool that reflects expected revenues - operating expenses - and cash receipts and outlays






26. Use of quantitative measures to evaluate a firm's financial performance - compares two elements from the same year's financial figures; computed by divided one element of a financial statement by another






27. Brands that have been given legal protection so that their owners have exclusive rights to their use






28. Elimination of rules that restrict business activity






29. Using promotion - product - distribution - and price to differentiate a good or service from those of competitors in the mind of the prospective buyer






30. Characteristic of centralized companies with multiple layers of management






31. The process of changing an organization's structure - Has a small negative effect on task performance. - Has a more significant negative effect on organizational commitment.






32. Strategy by which managers in specific areas decide how best to achieve corporate goals through productivity






33. Strategy whereby a firm sells one or more of its business units






34. Media: discounts - coupons - rebates; audience: targeted; intensity: passive; purpose: persuade






35. Measure of a firm's ability to carry long-term debt - calculated by divided total liabilities by total assets






36. Goal set for the very near future






37. Statement or document that defines the direction and scope of the promotional activities that a company will use to meet its marketing objectives






38. Continually adjusting prices to reflect changes in supply and demand






39. The activity - set of institutions - and process for creating - communicating - delivering - and enhancing offerings that have value for customers - clients - partners - and society at large






40. The state of being certain that adverse effects will not be caused by some agent under defined conditions






41. The degree to which customers continue to purchase a specific brand






42. Management theory incorporating Japanese emphasis on collective decision making and concern for employees with American emphasis on individual responsibility is ____.






43. A group of customer who need or want a particular product and have the money to buy it






44. Ratios that measure the effectiveness of the firm's use of its resources






45. Results from the leader's ability to give or withhold rewards






46. Operating expenses - such as office and administrative expenses - not directly associated with creating or marketing a good or a service






47. Start with the cost of producing a good or a service and then add a markup to the cost of the product to produce a product






48. Activities producing intangible and tangible products - such as entertainment - transportation - and education






49. Form of sexual harassment in which sexual favors are requested in return for job-related benefits






50. Process of converting government enterprises into privately owned companies