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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. Short-term alliance between independent organizations in a potentially long-term relationship to design - produce - and distribute a product.
Virtual organization
Standards
Mid-term objectives
Population
2. Calculation that compares the money earned (or lost) on an investment to the amount of money being invested.
Population
Return on Investment
Staff units
Span of control
3. Meaure that indicates the relationship between data items using x and y axes.
Zero-based budgeting
Vision Statement
Median
Scatter diagram
4. Group of persons or objects or a complete set of observations or measurements about which one wishes to draw conclusions.
Population
Staff units
Assets
Generation Y
5. Form of budgeting in which the prior budget is the basis for allocation of funds.
Incremental budgeting
Short-term objectives
Resolution
Standard deviation
6. Specifies what the company does - who its customers are - and the priorities it has set in pursuing its work.
Divisional structure
Primary research
Mission statement
Short-term objectives
7. Involves applying specific premises to a given situation to develop certain predictions about or understanding of the situation.
Deductive reasoning
Short-term objectives
Income statement
Normal distribution
8. Based on research that uses open-ended interviewing to explore and understand attitudes - opinions - feelings - and behavior.
Qualitative analysis
Balanced scorecard
Span of control
Scatter diagram
9. Money an organization owes its vendors and suppliers.
Validity
Accounts payable
Mission statement
Equity
10. Group of people born after 1980.
Generation Y
Generation X
Marketing
Span of control
11. Time allowed for the public to express its views and concerns regarding an action of a regulatory agency.
Public comment period
Scheduling
Generation Y
Balanced scorecard
12. Uses data already gathered by others and reported in various sources.
Sample
Centralization
Accounts payable
Secondary research
13. To an operations department - the act of detailed planning; based upon incoming orders - order history and forecasts of future demand.
Median
Vision Statement
Due diligence
Scheduling
14. Serve a purpose similar to short-term objectives but are completed in one to three years.
Scheduling
Regulation
Mid-term objectives
Assets
15. Process of planning - pricing - promoting and distributing goods and services to satisfy organizational objectives.
Experiment
Accounts payable
Accounts receivable
Marketing
16. Vivid - guiding image of an organization's desired future.
Experiment
Action plans
Reliability
Vision Statement
17. Rule or order issued by a government agency; often has the force of law.
Validity
Regulation
Mean
Inductive reasoning
18. Form of budgeting that requires that expenditures be justified for each new period and in which budgets start at zero.
Promotion
Equity
Control
Zero-based budgeting
19. Value that occurs most frequently in a set of data
Strategic planning
Mean
Assets
Mode
20. Involves data that is gathered firsthand for a specific evaluation.
Request for proposal
Strategies
HR audit
Primary research
21. What an organization sells to make a profit.
Product
Vision Statement
Percentile
Validity
22. Average score or value in a set of data.
Marketing
Mean
Zero-based budgeting
Scientific method
23. Analysis that shows point in time at which total revenue associated with a program is equal to the total cost of the program.
Formula budgeting
Break-even analysis
Percentile
Accounts receivable
24. Organizational structure in which divisions are separated by product - customer or market or region
Functional structure
Divisional structure
Break-even analysis
Standards
25. Principles of conduct within an organization that guide decision making and behavior.
Cost-benefit analysis
Supply chain
Strategies
Code of ethics
26. To an operations department - an after-the-fact evaluation of a company's ability to meet its own specifications and its customers' needs.
Due diligence
Control
Scheduling
Staff units
27. Research method in which certain factors(variables) are manipulated and the results are examined.
Capacity
Scientific method
Amendment
SWOT analysis
28. Detailed steps a unit - department or team will take in order to achieve short term objectives
Action plans
Standard deviation
Promotion
Strategic management
29. Financial - physical - and sometimes intangible properties an organization owns.
Assets
Liabilities
Median
Cost-benefit analysis
30. Design of formal systems in an organization that ensure the effective and efficient use of human talent to accomplish organizational goals.
Human resource management
Control
Long-term objectives
Human capital
31. Process to measure the effectiveness and efficiency of HR programs and positions.
Normal distribution
HR audit
Project
Promotion
32. System of moral principles and values that establish appropriate conduct.
Mean
Reliability
Ethics
Marketing
33. Seeks to obtain easily quantifiable data on a limited number of measurement points.
Experiment
Quantitative analysis
Median
Liabilities
34. Degree to which decision-making authority is given to lower levels in an organization's hierarchy.
Mid-term objectives
Decentralization
Qualitative analysis
Regression
35. Art and science of formulating - developing - implementing - and evaluating cross-functional decisions that enable an organization to achieve its objectives.
Mean
Strategic planning
Decentralization
Product
36. To an operations department - an organization's major asset after physical buildings and equipment.
Generation X
Gross profit margin
Inventory
HR audit
37. Group of people born roughly between the years of 1965 and 1980.
Mean
Normal distribution
Amendment
Generation X
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.
Income statement
HR audit
Balanced scorecard
Divestiture
39. Process that surveys and interprets relevant data to identify external opportunities and threats.
Marketing
Environmental scanning
Secondary research
Capacity
40. Provide the direction that enables an organization to achieve its long-term objectives.
Human Resource Information System
Regression
Strategies
Bill
41. Organization's debts and other financial obligations.
Program evaluation review technique (PERT) chart
Strategic management
Values
Liabilities
42. Measures the difference between what it costs to produce a product and the selling price.
Generation X
Gross profit margin
Normal distribution
Hypothesis
43. Prohibits American companies from making corrupt payments to foreign officials for the purpose of obtaining or keeping business.
Foreign Corrupt Practices Act
Generation X
Sample
Secondary research
44. Techniques for communicating information about products to consumers.
Promotion
Generation Y
Program evaluation review technique (PERT) chart
Inventory
45. 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.
Inventory
Balanced scorecard
Request for proposal
Deductive reasoning
46. Specific point in a distribution of data that has a given percentage of cases below it.
Product
Percentile
Due diligence
Public comment period
47. Portion of a poplulation used to draw conclusions regarding an entire population.
Gantt chart
Quantitative analysis
Assets
Sample
48. Research in which researcher controls and manipulates elements of the research environment to measure the impact of each variable.
Experiment
Standard deviation
Virtual organization
Range
49. Modification of the Constitution or a law; may be either formal written) or informal (unwritten).
SWOT analysis
Amendment
Sales
Scatter diagram
50. Money an organization's customers owe the organization.
Accounts receivable
Sales
Centralization
Qualitative analysis