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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. Meaure that refers to the causal effect of one variable upon another.
Deductive reasoning
Regression
Decentralization
Human capital
2. Business function responsible for selling an organization's product to the marketplace.
Scatter diagram
Sales
Divisional structure
Bill
3. Analysis that shows point in time at which total revenue associated with a program is equal to the total cost of the program.
Generation Y
Normal distribution
Break-even analysis
Balanced scorecard
4. Ratio that allows management to determine the financial impact particular activities and programs will have on a company's profitability.
Offshoring
Scatter diagram
Cost-benefit analysis
Due diligence
5. Written request asking contractors to propose solutions and prices that fit customer's requirements.
Secondary research
Request for proposal
Matrix structure
Span of control
6. Global network used to deliver products and services from raw materials to end customers through an engineered flow of information - physical distribution and cash.
Supply chain
Quorum
Formula budgeting
Marketing
7. Specific - testable prediction that is derived from a theory and describes a relationship between two variables.
Hypothesis
Strategic planning
Quorum
Control
8. Statement of a firm's financial position at a particular time.
Divestiture
Amendment
Balance sheet
Human Resource Information System
9. Based on research that uses open-ended interviewing to explore and understand attitudes - opinions - feelings - and behavior.
Values
Inductive reasoning
Environmental scanning
Qualitative analysis
10. Milestones that must be achieved - usually within six months to one year - in order to reach long-term objectives.
Short-term objectives
Liabilities
Strategic planning
Control
11. Group of persons or objects or a complete set of observations or measurements about which one wishes to draw conclusions.
Equity
Population
Veto
Capacity
12. Process to measure the effectiveness and efficiency of HR programs and positions.
Generation X
Cost-benefit analysis
HR audit
Scatter diagram
13. Value that occurs most frequently in a set of data
SWOT analysis
Cost-benefit analysis
Mode
Project
14. Uses data already gathered by others and reported in various sources.
Secondary research
Regulation
Liabilities
Functional structure
15. 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.
Project
Quantitative analysis
Correlation
Request for proposal
16. Seeks to obtain easily quantifiable data on a limited number of measurement points.
Resolution
Request for proposal
Quantitative analysis
Standards
17. Process of planning - pricing - promoting and distributing goods and services to satisfy organizational objectives.
Staff units
Functional structure
Generation X
Marketing
18. To an operations department - the ability to yield output.
Mid-term objectives
Capacity
Project
Equity
19. Short-term alliance between independent organizations in a potentially long-term relationship to design - produce - and distribute a product.
Decentralization
Income statement
Virtual organization
Percentile
20. Project management tool used to schedule - organize and coordinate tasks within a project.
Values
Primary research
Action plans
Program evaluation review technique (PERT) chart
21. Portion of silent and baby boom generations that is simultaneously caring for their own children and one or more elderly family members.
Virtual organization
Decentralization
Gross domestic product
Sandwich generation
22. To an operations department - an after-the-fact evaluation of a company's ability to meet its own specifications and its customers' needs.
Scientific method
Scheduling
Standards
Control
23. Work groups that assist line units by performing specialized services - such as HR.
Scientific method
Population
Sandwich generation
Staff units
24. Measure that indicates how much scores in a set of data are spread out around a mean or average.
Regression
Standard deviation
Span of control
Incremental budgeting
25. Form of budgeting that requires that expenditures be justified for each new period and in which budgets start at zero.
Ethics
Experiment
Zero-based budgeting
Sales
26. Distance between highest and lowest scores in a set of data.
Range
Secondary research
Span of control
Gross profit margin
27. Amount of owners' or shareholders' portion of a business.
Sample
Supply chain
Equity
Gross profit margin
28. Involves applying specific premises to a given situation to develop certain predictions about or understanding of the situation.
Product
Span of control
Deductive reasoning
Experiment
29. Specific results - accomplished in three to five years - that an organization seeks to achieve in pursuing its mission.
Mid-term objectives
Strategic management
Promotion
Long-term objectives
30. Legislative measure limited in effect to either the Congress or one of its chambers.
Population
Resolution
Sales
Correlation
31. Detailed steps a unit - department or team will take in order to achieve short term objectives
Validity
Deductive reasoning
Action plans
Strategies
32. Group of people born after 1980.
Generation Y
Request for proposal
Accounts receivable
Quorum
33. Art and science of formulating - developing - implementing - and evaluating cross-functional decisions that enable an organization to achieve its objectives.
Formula budgeting
Strategic planning
Generation Y
Amendment
34. Design of formal systems in an organization that ensure the effective and efficient use of human talent to accomplish organizational goals.
Ethics
Gantt chart
Human resource management
Control
35. Degree to which decision-making authority is restricted to higher levels of management in an organization
Action plans
Generation X
Deductive reasoning
Centralization
36. Refers to the number of inviduals who report to a supervisor.
Standard deviation
Span of control
Cost-benefit analysis
Reliability
37. Form of budgeting in which an average cost is applied to comparable expenses and general funding is changed by a specific amount.
Strategic planning
Human Resource Information System
Formula budgeting
Sandwich generation
38. 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.
Divestiture
Formula budgeting
Quorum
Sales
39. Prohibits American companies from making corrupt payments to foreign officials for the purpose of obtaining or keeping business.
Mean
Quantitative analysis
Marketing
Foreign Corrupt Practices Act
40. Rule or order issued by a government agency; often has the force of law.
Regulation
Population
Functional structure
Staff units
41. To an operations department - the act of detailed planning; based upon incoming orders - order history and forecasts of future demand.
Scheduling
Line units
Code of ethics
Inventory
42. For an operations department - provide the yardstick by which the amount and quality of output are measured.
Standards
Quorum
Mean
Strategic management
43. Serve a purpose similar to short-term objectives but are completed in one to three years.
Inductive reasoning
Mid-term objectives
Gantt chart
Liabilities
44. Form of budgeting in which the prior budget is the basis for allocation of funds.
Gantt chart
Normal distribution
Incremental budgeting
Sample
45. Involves looking at a set of observations and designing a rule that characterizes or explains a pattern underlying the observations.
Accounts receivable
Validity
Normal distribution
Inductive reasoning
46. Process that surveys and interprets relevant data to identify external opportunities and threats.
Product
Matrix structure
Environmental scanning
Accounts payable
47. Time allowed for the public to express its views and concerns regarding an action of a regulatory agency.
Gross profit margin
Balance sheet
Public comment period
Due diligence
48. Degree to which decision-making authority is given to lower levels in an organization's hierarchy.
Offshoring
Product
Decentralization
Primary research
49. Process of conducting an intensive investigation of a corporation as one of the first steps in a pending merger or acquisition.
Inductive reasoning
Due diligence
Request for proposal
Income statement
50. Average score or value in a set of data.
Environmental scanning
Mean
Promotion
Staff units