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






2. Measure that indicates the relationship between two variables.






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






4. Organization's debts and other financial obligations.






5. Analysis that shows point in time at which total revenue associated with a program is equal to the total cost of the program.






6. Involves applying specific premises to a given situation to develop certain predictions about or understanding of the situation.






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






8. Uses data already gathered by others and reported in various sources.






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






10. Techniques for communicating information about products to consumers.






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






12. Work groups that assist line units by performing specialized services - such as HR.






13. 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.






14. Group of people born after 1980.






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






16. 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.






17. Prohibits American companies from making corrupt payments to foreign officials for the purpose of obtaining or keeping business.






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






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






20. Specific - testable prediction that is derived from a theory and describes a relationship between two variables.






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






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






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






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






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






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






27. Legislative measure limited in effect to either the Congress or one of its chambers.






28. Specific point in a distribution of data that has a given percentage of cases below it.






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






30. Refers to the number of inviduals who report to a supervisor.






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






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






33. What an organization sells to make a profit.






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






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






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






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






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






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






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






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






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






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






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






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






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






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






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






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






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