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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. Ability of an instrument to measure consistently.
Reliability
Strategic management
Vision Statement
Balanced scorecard
2. Calculation that compares the money earned (or lost) on an investment to the amount of money being invested.
Zero-based budgeting
Return on Investment
Formula budgeting
Hypothesis
3. Specifies what the company does - who its customers are - and the priorities it has set in pursuing its work.
Assets
Mission statement
Human capital
Mid-term objectives
4. Measure that indicates how much scores in a set of data are spread out around a mean or average.
Environmental scanning
Experiment
Standard deviation
Cost-benefit analysis
5. Serve a purpose similar to short-term objectives but are completed in one to three years.
Standards
Mode
Mid-term objectives
HR audit
6. Vehicle for collecting information on an organization's current strengths - weaknesses - opportunities - and threats.
Scientific method
Line units
Cost-benefit analysis
SWOT analysis
7. Short-term alliance between independent organizations in a potentially long-term relationship to design - produce - and distribute a product.
Virtual organization
Zero-based budgeting
Median
Percentile
8. For an operations department - provide the yardstick by which the amount and quality of output are measured.
Percentile
Standards
Matrix structure
Divestiture
9. Process of planning - pricing - promoting and distributing goods and services to satisfy organizational objectives.
Marketing
Long-term objectives
Equity
Control
10. Meaure that indicates the relationship between data items using x and y axes.
Sales
Standard deviation
Ethics
Scatter diagram
11. Principles of conduct within an organization that guide decision making and behavior.
Span of control
Due diligence
Liabilities
Code of ethics
12. Organizational structure in which divisions are separated by product - customer or market or region
Incremental budgeting
Qualitative analysis
Divisional structure
Resolution
13. Proposal presented to a legislative body for possible enactment as a law
Human resource management
Gross profit margin
Primary research
Bill
14. Measures the difference between what it costs to produce a product and the selling price.
Short-term objectives
Balanced scorecard
Due diligence
Gross profit margin
15. Rule or order issued by a government agency; often has the force of law.
Sales
Gross domestic product
Regulation
Accounts receivable
16. Action of canceling or postponing a decision or bill.
Human Resource Information System
Project
Veto
HR audit
17. Seeks to obtain easily quantifiable data on a limited number of measurement points.
Functional structure
Action plans
Quantitative analysis
Mean
18. Statement of a firm's financial position at a particular time.
Balance sheet
Income statement
Human resource management
Zero-based budgeting
19. Combined knowledge - skills and experience of a company's employees.
Inventory
Centralization
Reliability
Human capital
20. Involves looking at a set of observations and designing a rule that characterizes or explains a pattern underlying the observations.
Scheduling
Divestiture
Experiment
Inductive reasoning
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.
Supply chain
Reliability
Break-even analysis
Environmental scanning
22. Process that surveys and interprets relevant data to identify external opportunities and threats.
Environmental scanning
Span of control
Public comment period
Cost-benefit analysis
23. Design of formal systems in an organization that ensure the effective and efficient use of human talent to accomplish organizational goals.
Human resource management
Standards
Mid-term objectives
Hypothesis
24. Money an organization owes its vendors and suppliers.
Promotion
Environmental scanning
Accounts payable
Cost-benefit analysis
25. Relocation of processes or functions from a "home" country to another country.
Offshoring
Quantitative analysis
Marketing
Cost-benefit analysis
26. Group of persons or objects or a complete set of observations or measurements about which one wishes to draw conclusions.
Balanced scorecard
Population
Offshoring
Standard deviation
27. Organizational structure that defines departments by what services they contribute to the organization's overall mission.
HR audit
Accounts receivable
Functional structure
Human capital
28. Process of conducting an intensive investigation of a corporation as one of the first steps in a pending merger or acquisition.
Zero-based budgeting
Resolution
Program evaluation review technique (PERT) chart
Due diligence
29. To an operations department - the ability to yield output.
Capacity
Standard deviation
Cost-benefit analysis
Generation X
30. Involves data that is gathered firsthand for a specific evaluation.
Primary research
Due diligence
Staff units
Functional structure
31. To an operations department - the act of detailed planning; based upon incoming orders - order history and forecasts of future demand.
Balanced scorecard
Scheduling
Primary research
Equity
32. Portion of silent and baby boom generations that is simultaneously caring for their own children and one or more elderly family members.
Short-term objectives
Amendment
Marketing
Sandwich generation
33. Art and science of formulating - developing - implementing - and evaluating cross-functional decisions that enable an organization to achieve its objectives.
Regression
Population
Vision Statement
Strategic planning
34. To an operations department - an organization's major asset after physical buildings and equipment.
Inventory
Range
Human capital
Balanced scorecard
35. Expected distribution given a random sampling of people across a large population.
Normal distribution
Gross domestic product
Human resource management
Liabilities
36. Organization's debts and other financial obligations.
Short-term objectives
Human capital
Liabilities
Deductive reasoning
37. Project management tool used to schedule - organize and coordinate tasks within a project.
Request for proposal
Veto
Sandwich generation
Program evaluation review technique (PERT) chart
38. Ratio that allows management to determine the financial impact particular activities and programs will have on a company's profitability.
Long-term objectives
Hypothesis
Cost-benefit analysis
Centralization
39. Average score or value in a set of data.
Break-even analysis
Mean
Cost-benefit analysis
Mode
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.
Percentile
Assets
Balanced scorecard
Generation X
41. Amount of owners' or shareholders' portion of a business.
HR audit
Zero-based budgeting
Equity
Resolution
42. Measure that indicates the relationship between two variables.
Regression
Strategic management
Correlation
Supply chain
43. Statement explaining revenues - expenses - and profits over a specified period of time - usually a year or quarter.
Environmental scanning
Income statement
Secondary research
Due diligence
44. Form of budgeting that requires that expenditures be justified for each new period and in which budgets start at zero.
Zero-based budgeting
Incremental budgeting
Project
Sandwich generation
45. Processes and activities used to formulate HR objectives practices - and policies.
Strategic management
Human capital
Scheduling
Secondary research
46. Provide the direction that enables an organization to achieve its long-term objectives.
Equity
Strategies
Project
Action plans
47. Based on research that uses open-ended interviewing to explore and understand attitudes - opinions - feelings - and behavior.
Product
Qualitative analysis
Program evaluation review technique (PERT) chart
Zero-based budgeting
48. Financial - physical - and sometimes intangible properties an organization owns.
Assets
Primary research
Strategies
Normal distribution
49. What an organization sells to make a profit.
Mode
Gross profit margin
Product
Range
50. Meaure that refers to the causal effect of one variable upon another.
Validity
Project
Regression
Control