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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. When a task is too time consuming for a manager to handle alone - he or she may ____.






2. Product that is dissimilar from those of competitors but than can fulfill the same need






3. Deliver quality products - and provide effective customer service; keeps customers satisfied and helps retain long-term loyalty






4. Demographics - psychographics - and geographics






5. The process of examining an organization's current marketing situation - assessing opportunities and setting objectives - then developing a marketing strategy to reach those objectives






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






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






8. Brand awareness - brand preference - brand insistence






9. Specific goods - services - experiences - or other entities that are desirable in light of a person's experiences - culture - and personality






10. Under the Americans with Disabilities Act - companies cannot fire or refuse to hire people because of...






11. Hybrid of a publicly held corporation and a partnership in which owners are taxed as partners but enjoy the benefits of limited liability






12. The action of ensuring that operations produce products that meet specific quality standards






13. Are a more complex form of organizational design that tries to take advantage of two types of structures at the same time. - The matrix represents a combination of a functional structure and a product structure.






14. Mix of people in organizations in terms of essential/demographic status






15. Advertising that seeks to create goodwill and to build a desired image for a company rather than to sell specific products






16. Accounting method in which revenue is recorded when a sale is made and expense is recorded when it is incurred






17. Portion of a brand that cannot be expressed verbally






18. Amount remaining when the cost of goods sold is deducted from net sales; also known as gross margin






19. Assets retained for long-term use - such as land - buildings - machinery - and equipment; also referred to as property - plant - and equipment






20. Postsales reductions in price - must be applied for by the purchaser






21. Management process of determining what an organization needs to do and how best to get it done






22. Process of planning - organizing - leading and controlling an organization's resources to achieve its goals






23. Because production occurs continuously throughout the year - the 3-M company can best be described as using ____.






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






25. Lots of leeway to workers to meet goals






26. Advertising designed to encourage customers to try new products or to switch brands






27. Organization in which most decision-making authority is held by upper-level management






28. Strategu for determining a firm's overall attitude toward growth and the way it will manage its business or product lines






29. Advertising that tries to sell specific goods or services - generally by describing features - benefits - and occasionally - price






30. The phase in which unemployment begins to decrease. demand for goods and services increase - and GDP begins to rise






31. Being accountable or being able to justify an action






32. Those groups - individuals - and organizations that are directly affected by the practices of an organization and who therefore have a stake in its performance






33. Division of a diverse market into smaller - relatively homogeneous groups with similar needs - wants - and purchase behaviors






34. Independent and well informed buyers and sellers of the exact same product (farmers markets)






35. The delivery of marketing messages to people who are not aware that they are being marketing to; these messages can be delivered by either acquaintances or strangers - depending on the technique






36. In bookkeeping - an increase in assets






37. Takes the extractor's products or raw materials and changs the into a form that consumers can use






38. Favoritism shown to relatives or close friends by those in power (as by giving them jobs)






39. Employee hired on something other than a full-time basis to supplement an organization's permanent workforce






40. Applying a successful brand name to a new product category






41. Wide variety of persuasive techniques used by companies to communicate with their target markets and the general public






42. Amount earned from sales of goods or services and inflow from miscellaneous sources such as interest - rent - and royalties






43. Break-even point = fixed costs/ (selling price - variable costs per unit)






44. Informal work groups can affect ____.






45. Idea generation - idea screening - business analysis - prototype development - test marketing - commercialization






46. Management process of determining how to best arrange an organization's resources and activities into a coherent structure






47. Sales-promotion efforts aimed at inducing distributors or retails to push a producer's products






48. Power to make the decisions necessary to complete a task






49. Strategy of coordinating and integrating all communications and promotional efforts with customers to ensure greater efficiency and effectiveness






50. Arises when group members recognize that the leader has special expertise in the area







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Can you answer 50 questions in 15 minutes?


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