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Test your basic knowledge |
Strategic Management
Start Test
Study First
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. For an operations department - provide the yardstick by which the amount and quality of output are measured.
Values
Amendment
Incremental budgeting
Standards
2. Written request asking contractors to propose solutions and prices that fit customer's requirements.
Liabilities
Public comment period
Request for proposal
Veto
3. Work groups that assist line units by performing specialized services - such as HR.
SWOT analysis
Staff units
Gross profit margin
Program evaluation review technique (PERT) chart
4. Milestones that must be achieved - usually within six months to one year - in order to reach long-term objectives.
Control
Short-term objectives
Equity
Mean
5. Systematic tool for gathering - storing maintaining - retrieving - and revising HR data.
Liabilities
Human Resource Information System
Scientific method
Sales
6. Analysis that shows point in time at which total revenue associated with a program is equal to the total cost of the program.
Generation X
Decentralization
Break-even analysis
Assets
7. Relocation of processes or functions from a "home" country to another country.
Deductive reasoning
Qualitative analysis
Offshoring
Inductive reasoning
8. Detailed steps a unit - department or team will take in order to achieve short term objectives
Scientific method
Sales
Program evaluation review technique (PERT) chart
Action plans
9. Ability of an instrument to measure what it is intended to measure.
Validity
Strategic management
Assets
Standard deviation
10. Proposal presented to a legislative body for possible enactment as a law
Regulation
Bill
Scheduling
HR audit
11. Financial - physical - and sometimes intangible properties an organization owns.
Assets
Mid-term objectives
Public comment period
Strategic planning
12. What an organization sells to make a profit.
Product
Supply chain
Incremental budgeting
Experiment
13. Process that surveys and interprets relevant data to identify external opportunities and threats.
Reliability
Standards
Hypothesis
Environmental scanning
14. Meaure that indicates the relationship between data items using x and y axes.
Vision Statement
Validity
Gross profit margin
Scatter diagram
15. Vehicle for collecting information on an organization's current strengths - weaknesses - opportunities - and threats.
Project
Range
SWOT analysis
Return on Investment
16. Measure that indicates how much scores in a set of data are spread out around a mean or average.
Cost-benefit analysis
Vision Statement
Standard deviation
Assets
17. Organizational structure that defines departments by what services they contribute to the organization's overall mission.
Human Resource Information System
Promotion
Functional structure
Values
18. Specific results - accomplished in three to five years - that an organization seeks to achieve in pursuing its mission.
Promotion
Standard deviation
Long-term objectives
SWOT analysis
19. Measure that indicates the relationship between two variables.
Scheduling
Correlation
Code of ethics
Virtual organization
20. Statement of a firm's financial position at a particular time.
Divisional structure
Percentile
Balance sheet
Liabilities
21. Value that occurs most frequently in a set of data
Scientific method
Human Resource Information System
Quantitative analysis
Mode
22. Project planning tool that graphically displays activities of a project in sequential order and plots against time.
Regression
Gantt chart
Virtual organization
Correlation
23. Statement explaining revenues - expenses - and profits over a specified period of time - usually a year or quarter.
Income statement
Line units
Scientific method
Regression
24. Calculation that compares the money earned (or lost) on an investment to the amount of money being invested.
Liabilities
Ethics
Return on Investment
Scheduling
25. Distance between highest and lowest scores in a set of data.
Cost-benefit analysis
Standards
Range
Environmental scanning
26. Refers to the number of inviduals who report to a supervisor.
Virtual organization
Quantitative analysis
Mean
Span of control
27. Rule or order issued by a government agency; often has the force of law.
Strategic management
Range
Public comment period
Regulation
28. Combined knowledge - skills and experience of a company's employees.
Accounts receivable
Primary research
Human Resource Information System
Human capital
29. Organizational structure in which divisions are separated by product - customer or market or region
Strategic management
Secondary research
Divisional structure
Mid-term objectives
30. Group of people born after 1980.
Median
Strategic management
Amendment
Generation Y
31. Time allowed for the public to express its views and concerns regarding an action of a regulatory agency.
Public comment period
Product
Percentile
Income statement
32. Money an organization's customers owe the organization.
Accounts receivable
Quantitative analysis
Income statement
Secondary research
33. 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.
Primary research
Balanced scorecard
Gross domestic product
Accounts payable
34. Organizational structure that combines departmentalization by division and function to gain the benefits of both.
Cost-benefit analysis
Mid-term objectives
Matrix structure
Accounts receivable
35. Ratio that allows management to determine the financial impact particular activities and programs will have on a company's profitability.
Scientific method
Scatter diagram
Cost-benefit analysis
Staff units
36. Business function responsible for selling an organization's product to the marketplace.
Inductive reasoning
Generation X
Human Resource Information System
Sales
37. To an operations department - the act of detailed planning; based upon incoming orders - order history and forecasts of future demand.
Correlation
Scheduling
Return on Investment
SWOT analysis
38. Measures the difference between what it costs to produce a product and the selling price.
Sandwich generation
Gross profit margin
Standard deviation
Gantt chart
39. To an operations department - the ability to yield output.
Capacity
Centralization
Inductive reasoning
Secondary research
40. Design of formal systems in an organization that ensure the effective and efficient use of human talent to accomplish organizational goals.
Normal distribution
Sample
Control
Human resource management
41. Amount of owners' or shareholders' portion of a business.
Code of ethics
Deductive reasoning
Equity
Supply chain
42. Series of tasks and activities that has a stated goal and objectives - a schedule with defined start and end dates - and a budget that sets limits on the use of monetary and human resources.
Human capital
Project
Secondary research
HR audit
43. Process of planning - pricing - promoting and distributing goods and services to satisfy organizational objectives.
Accounts receivable
Break-even analysis
Deductive reasoning
Marketing
44. Group of persons or objects or a complete set of observations or measurements about which one wishes to draw conclusions.
Vision Statement
Cost-benefit analysis
Correlation
Population
45. Involves applying specific premises to a given situation to develop certain predictions about or understanding of the situation.
Human capital
Deductive reasoning
Experiment
Divisional structure
46. Research method in which certain factors(variables) are manipulated and the results are examined.
Scientific method
Sandwich generation
Secondary research
Offshoring
47. Ability of an instrument to measure consistently.
Inductive reasoning
Reliability
Values
Action plans
48. Specifies what the company does - who its customers are - and the priorities it has set in pursuing its work.
Gross profit margin
Liabilities
Mission statement
Gross domestic product
49. Short-term alliance between independent organizations in a potentially long-term relationship to design - produce - and distribute a product.
Generation X
Deductive reasoning
Scatter diagram
Virtual organization
50. Organization's debts and other financial obligations.
Equity
Strategic planning
Liabilities
Sales