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






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






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






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






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






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






8. Statement of a firm's financial position at a particular time.






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






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






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






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






13. Value that occurs most frequently in a set of data






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






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.






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






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






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






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






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






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






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






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






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






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






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






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






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






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






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






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






32. Group of people born after 1980.






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






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






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






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






37. Form of budgeting in which an average cost is applied to comparable expenses and general funding is changed by a specific amount.






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.






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






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






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






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






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






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






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






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






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






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






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






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