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






2. 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.






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






4. 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.






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






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.






7. Average score or value in a set of data.






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






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






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






11. Group of persons or objects or a complete set of observations or measurements about which one wishes to draw conclusions.






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






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






14. Design of formal systems in an organization that ensure the effective and efficient use of human talent to accomplish organizational goals.






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






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






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






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






19. Techniques for communicating information about products to consumers.






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






21. Ability of an instrument to measure consistently.






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






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






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






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






26. Process of planning - pricing - promoting and distributing goods and services to satisfy organizational objectives.






27. Vivid - guiding image of an organization's desired future.






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






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






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






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






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






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






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






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






36. Process to measure the effectiveness and efficiency of HR programs and positions.






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






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






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






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






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






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. Vehicle for collecting information on an organization's current strengths - weaknesses - opportunities - and threats.






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






45. Group of people born after 1980.






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






47. Point below which 50% of scores in a set of data lie.






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






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






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