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. Value that occurs most frequently in a set of data






2. Money an organization's customers owe the organization.






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






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






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






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






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






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






9. Group of people born roughly between the years of 1965 and 1980.






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






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






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






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






14. Proposal presented to a legislative body for possible enactment as a law






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






16. Principles of conduct within an organization that guide decision making and behavior.






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






18. 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.






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






20. Organizational structure in which divisions are separated by product - customer or market or region






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






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






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






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






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






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






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






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






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






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






31. Money an organization owes its vendors and suppliers.






32. Involves data that is gathered firsthand for a specific evaluation.






33. Number of members of an organizaion that have to be present before official business may be conducted.






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






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






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






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






38. Modification of the Constitution or a law; may be either formal written) or informal (unwritten).






39. Processes and activities used to formulate HR objectives practices - and policies.






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






41. 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.






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






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






44. Global network used to deliver products and services from raw materials to end customers through an engineered flow of information - physical distribution and cash.






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






46. What an organization sells to make a profit.






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






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






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






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