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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. Strategy in which two or more organizations collaborate on a project for mutual gain






2. Free or bargain-priced items offered to encourage customers to buy a product






3. S- strengths W- weaknesses O- opportunities T- threats - strengths and weaknesses are internal factors of the company; opportunities and threats are external factors towards the company






4. Strategies developed and implemented by managers in marketing - operations - human resources - finance - and other departments






5. Large-scale production and distribution of a product






6. Method of combining geographical data with demographic data to develop profiles of neighborhood segments






7. Systems for moving goods and services from producers to customers; also known as marketing channels






8. Advertising or other display materials set up at retail locations to promote products to potential customers as they are making their purchase decisions






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






10. Process of building - maintaining - and using customer databases for the purpose of contacting customers and transacting business






11. Statement of a firm's financial position on a particular date; also known as a statement of financial position






12. Characteristic of centralized companies with multiple layers of management






13. Flow of information - materials - and services that starts with raw-materials suppliers and continues adding value through other stages in the network of firms until the product reaches that end customer






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






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






16. Worker - consumer - citizen Consumers vote in favor of goods and services; Worker productivity is important for a nations advancement; Citizens join with other citizens in making some economical decision for the good of the community






17. Managers and workers cooperating as a team






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






19. A ____ is an agreement between two parties to carry out a transaction - such as the sale of goods from a seller to buyer.






20. The combination of 'characteristics of a product of service that bear on its ability to satisfy stated or implied needs'






21. Measure of a firm's short-term liquidity - calculated by divided current assets by current liabilities






22. Is a drawing that represents every job in the organization and the formal reporting relationships between those jobs.






23. Categorization of customers according to their relationship with products or response to product characteristics






24. Costs created in the process of generating revenues






25. Process of subdividing a market into homogeneous groups to identify potential customers and to devise marketing approaches geared to their needs and interests






26. Short-term credit or debt amounts that a company owes its suppliers: the company's "bills" in other words






27. Electronic media that invite participation by the general public






28. Represents how many employees the manager is responsible for in the organization - Narrow spans of control allow managers to be much more hands-on with employees.






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






30. Systematic direction and control of the processes that transform resources into finished products that create value for and provide benefits to customers






31. A series of related products offered by a firm






32. Type of partnership consisting of limited partners and a general (or active) partner






33. Choosing one alternative from among several options






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






35. ____ help focus attention on what is important and are broader statements than objectives. More quantitative the ____ - the more likely its achievement is to receive attention and less likely it is to be distorted. The end or outcome to be accomplis






36. Products having nonphysical features - such as information - expertise - or an activity that can be purchased






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






38. Positive reinforcement - negative reinforcement - punishment






39. Obligations that fall due more than a year from the date of the balance sheet - Loans - leases - and bonds






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






41. Partner who actively manages a firm and who has unlimited liability for its debts






42. A leadership style where the manager is directive and controlling






43. The level of joblessness among people actively seeking work in an economic system






44. Organization's methods for dealing with emergencies






45. Something produced by the intellect or mind that has commercial value






46. This law guards against false advertising.






47. Claims against a firm's assets by creditors - such as banks and suppliers






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






49. Identification and marketing of a social issues - cause - or idea to selected target markets






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






Can you answer 50 questions in 15 minutes?



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