Test your basic knowledge |

Strategic Management

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. Ability of an instrument to measure consistently.






2. Calculation that compares the money earned (or lost) on an investment to the amount of money being invested.






3. Specifies what the company does - who its customers are - and the priorities it has set in pursuing its work.






4. Measure that indicates how much scores in a set of data are spread out around a mean or average.






5. Serve a purpose similar to short-term objectives but are completed in one to three years.






6. Vehicle for collecting information on an organization's current strengths - weaknesses - opportunities - and threats.






7. Short-term alliance between independent organizations in a potentially long-term relationship to design - produce - and distribute a product.






8. For an operations department - provide the yardstick by which the amount and quality of output are measured.






9. Process of planning - pricing - promoting and distributing goods and services to satisfy organizational objectives.






10. Meaure that indicates the relationship between data items using x and y axes.






11. Principles of conduct within an organization that guide decision making and behavior.






12. Organizational structure in which divisions are separated by product - customer or market or region






13. Proposal presented to a legislative body for possible enactment as a law






14. Measures the difference between what it costs to produce a product and the selling price.






15. Rule or order issued by a government agency; often has the force of law.






16. Action of canceling or postponing a decision or bill.






17. Seeks to obtain easily quantifiable data on a limited number of measurement points.






18. Statement of a firm's financial position at a particular time.






19. Combined knowledge - skills and experience of a company's employees.






20. Involves looking at a set of observations and designing a rule that characterizes or explains a pattern underlying the observations.






21. Global network used to deliver products and services from raw materials to end customers through an engineered flow of information - physical distribution and cash.






22. Process that surveys and interprets relevant data to identify external opportunities and threats.






23. Design of formal systems in an organization that ensure the effective and efficient use of human talent to accomplish organizational goals.






24. Money an organization owes its vendors and suppliers.






25. Relocation of processes or functions from a "home" country to another country.






26. Group of persons or objects or a complete set of observations or measurements about which one wishes to draw conclusions.






27. Organizational structure that defines departments by what services they contribute to the organization's overall mission.






28. Process of conducting an intensive investigation of a corporation as one of the first steps in a pending merger or acquisition.






29. To an operations department - the ability to yield output.






30. Involves data that is gathered firsthand for a specific evaluation.






31. To an operations department - the act of detailed planning; based upon incoming orders - order history and forecasts of future demand.






32. Portion of silent and baby boom generations that is simultaneously caring for their own children and one or more elderly family members.






33. Art and science of formulating - developing - implementing - and evaluating cross-functional decisions that enable an organization to achieve its objectives.






34. To an operations department - an organization's major asset after physical buildings and equipment.






35. Expected distribution given a random sampling of people across a large population.






36. Organization's debts and other financial obligations.






37. Project management tool used to schedule - organize and coordinate tasks within a project.






38. Ratio that allows management to determine the financial impact particular activities and programs will have on a company's profitability.






39. Average score or value in a set of data.






40. Measurement approach that provides an overall picture of an organization's performance as measured against goals in finance - customers - internal business processes - learning - and growth.






41. Amount of owners' or shareholders' portion of a business.






42. Measure that indicates the relationship between two variables.






43. Statement explaining revenues - expenses - and profits over a specified period of time - usually a year or quarter.






44. Form of budgeting that requires that expenditures be justified for each new period and in which budgets start at zero.






45. Processes and activities used to formulate HR objectives practices - and policies.






46. Provide the direction that enables an organization to achieve its long-term objectives.






47. Based on research that uses open-ended interviewing to explore and understand attitudes - opinions - feelings - and behavior.






48. Financial - physical - and sometimes intangible properties an organization owns.






49. What an organization sells to make a profit.






50. Meaure that refers to the causal effect of one variable upon another.