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






2. System of moral principles and values that establish appropriate conduct.






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






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






5. Research method in which certain factors(variables) are manipulated and the results are examined.






6. Work groups that conduct the major business of an organization.






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






8. To an operations department - an after-the-fact evaluation of a company's ability to meet its own specifications and its customers' needs.






9. Written request asking contractors to propose solutions and prices that fit customer's requirements.






10. Degree to which decision-making authority is given to lower levels in an organization's hierarchy.






11. Estimate of the total value of goods and services produced in a country in a given year.






12. Ability of an instrument to measure consistently.






13. Time allowed for the public to express its views and concerns regarding an action of a regulatory agency.






14. Project planning tool that graphically displays activities of a project in sequential order and plots against time.






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






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






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






18. Portion of a poplulation used to draw conclusions regarding an entire population.






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






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






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






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






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






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






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






26. Specific results - accomplished in three to five years - that an organization seeks to achieve in pursuing its mission.






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






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






29. Describe what is important to an organization - dictate employee behavior - and create the organization's culture.






30. Systematic tool for gathering - storing maintaining - retrieving - and revising HR data.






31. Distance between highest and lowest scores in a set of data.






32. Money an organization owes its vendors and suppliers.






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






34. Detailed steps a unit - department or team will take in order to achieve short term objectives






35. Organizational structure that combines departmentalization by division and function to gain the benefits of both.






36. Number of members of an organizaion that have to be present before official business may be conducted.






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






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






39. Business function responsible for selling an organization's product to the marketplace.






40. Research in which researcher controls and manipulates elements of the research environment to measure the impact of each variable.






41. Degree to which decision-making authority is restricted to higher levels of management in an organization






42. Sale by a company of an asset that is not performing well - that is not core to the company's business - or that is worth more as a separate entity.






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






44. Ability of an instrument to measure what it is intended to measure.






45. Group of people born after 1980.






46. What an organization sells to make a profit.






47. Milestones that must be achieved - usually within six months to one year - in order to reach long-term objectives.






48. Form of budgeting in which the prior budget is the basis for allocation of funds.






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






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