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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. Written request asking contractors to propose solutions and prices that fit customer's requirements.
Sample
Veto
Quantitative analysis
Request for proposal
2. Portion of a poplulation used to draw conclusions regarding an entire population.
Qualitative analysis
Equity
Sample
Long-term objectives
3. Describe what is important to an organization - dictate employee behavior - and create the organization's culture.
Vision Statement
Sandwich generation
Values
Correlation
4. Vivid - guiding image of an organization's desired future.
Public comment period
Vision Statement
Gross domestic product
Equity
5. Calculation that compares the money earned (or lost) on an investment to the amount of money being invested.
Strategic management
Return on Investment
Validity
Experiment
6. Expected distribution given a random sampling of people across a large population.
Divestiture
Accounts receivable
Reliability
Normal distribution
7. Form of budgeting in which the prior budget is the basis for allocation of funds.
Range
Scientific method
Offshoring
Incremental budgeting
8. Group of persons or objects or a complete set of observations or measurements about which one wishes to draw conclusions.
Strategic planning
Marketing
Action plans
Population
9. What an organization sells to make a profit.
Product
Scheduling
Inductive reasoning
Generation X
10. To an operations department - an organization's major asset after physical buildings and equipment.
Zero-based budgeting
Inventory
Accounts receivable
Due diligence
11. Combined knowledge - skills and experience of a company's employees.
Median
Human capital
Project
Supply chain
12. Rule or order issued by a government agency; often has the force of law.
Regulation
Quantitative analysis
Veto
Secondary research
13. Provide the direction that enables an organization to achieve its long-term objectives.
Accounts payable
Strategies
Divestiture
Product
14. Analysis that shows point in time at which total revenue associated with a program is equal to the total cost of the program.
Sample
Break-even analysis
Foreign Corrupt Practices Act
Zero-based budgeting
15. Short-term alliance between independent organizations in a potentially long-term relationship to design - produce - and distribute a product.
Virtual organization
Inventory
Mode
Incremental budgeting
16. For an operations department - provide the yardstick by which the amount and quality of output are measured.
Scientific method
Range
Standards
Primary research
17. Involves applying specific premises to a given situation to develop certain predictions about or understanding of the situation.
Deductive reasoning
Virtual organization
Qualitative analysis
Span of control
18. Point below which 50% of scores in a set of data lie.
Quantitative analysis
Median
Human resource management
Validity
19. Refers to the number of inviduals who report to a supervisor.
Span of control
Vision Statement
Regulation
Environmental scanning
20. Measure that indicates the relationship between two variables.
Inventory
Normal distribution
Regulation
Correlation
21. Vehicle for collecting information on an organization's current strengths - weaknesses - opportunities - and threats.
Scheduling
SWOT analysis
Zero-based budgeting
Capacity
22. Principles of conduct within an organization that guide decision making and behavior.
Validity
Code of ethics
Hypothesis
SWOT analysis
23. Specific results - accomplished in three to five years - that an organization seeks to achieve in pursuing its mission.
Environmental scanning
Incremental budgeting
Long-term objectives
Balance sheet
24. Measure that indicates how much scores in a set of data are spread out around a mean or average.
Experiment
Action plans
Standard deviation
Inductive reasoning
25. Meaure that indicates the relationship between data items using x and y axes.
Scatter diagram
Sales
Median
Return on Investment
26. Systematic tool for gathering - storing maintaining - retrieving - and revising HR data.
Reliability
Bill
Accounts payable
Human Resource Information System
27. Measures the difference between what it costs to produce a product and the selling price.
Amendment
Sandwich generation
Gross profit margin
Program evaluation review technique (PERT) chart
28. 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.
Validity
Balanced scorecard
Code of ethics
Matrix structure
29. Ability of an instrument to measure what it is intended to measure.
Validity
Functional structure
Normal distribution
Mission statement
30. Organizational structure in which divisions are separated by product - customer or market or region
Generation X
Divisional structure
Veto
Balance sheet
31. Research method in which certain factors(variables) are manipulated and the results are examined.
Scientific method
Sandwich generation
Regression
Gantt chart
32. Financial - physical - and sometimes intangible properties an organization owns.
Environmental scanning
Staff units
Assets
Gross domestic product
33. Involves data that is gathered firsthand for a specific evaluation.
Primary research
Promotion
Gross profit margin
Decentralization
34. Specific point in a distribution of data that has a given percentage of cases below it.
Action plans
Strategies
Percentile
Program evaluation review technique (PERT) chart
35. Work groups that assist line units by performing specialized services - such as HR.
Staff units
Balanced scorecard
Mode
Centralization
36. Statement of a firm's financial position at a particular time.
Incremental budgeting
Balance sheet
Secondary research
Inductive reasoning
37. Prohibits American companies from making corrupt payments to foreign officials for the purpose of obtaining or keeping business.
Sample
Offshoring
Normal distribution
Foreign Corrupt Practices Act
38. Money an organization owes its vendors and suppliers.
Mode
Mission statement
Accounts payable
Marketing
39. Process that surveys and interprets relevant data to identify external opportunities and threats.
Hypothesis
Correlation
Span of control
Environmental scanning
40. System of moral principles and values that establish appropriate conduct.
Decentralization
Sandwich generation
Ethics
Centralization
41. Estimate of the total value of goods and services produced in a country in a given year.
Ethics
Inductive reasoning
Gross domestic product
Promotion
42. To an operations department - the act of detailed planning; based upon incoming orders - order history and forecasts of future demand.
Range
Cost-benefit analysis
Scheduling
Sample
43. Organizational structure that combines departmentalization by division and function to gain the benefits of both.
Matrix structure
Liabilities
Correlation
HR audit
44. Project planning tool that graphically displays activities of a project in sequential order and plots against time.
Virtual organization
Line units
Accounts receivable
Gantt chart
45. Number of members of an organizaion that have to be present before official business may be conducted.
Mean
Offshoring
Population
Quorum
46. Business function responsible for selling an organization's product to the marketplace.
Reliability
Accounts receivable
Sales
Strategic management
47. Techniques for communicating information about products to consumers.
Promotion
Deductive reasoning
Strategic planning
Program evaluation review technique (PERT) chart
48. Based on research that uses open-ended interviewing to explore and understand attitudes - opinions - feelings - and behavior.
Public comment period
HR audit
Balance sheet
Qualitative analysis
49. Form of budgeting in which an average cost is applied to comparable expenses and general funding is changed by a specific amount.
Equity
Formula budgeting
Zero-based budgeting
SWOT analysis
50. Degree to which decision-making authority is given to lower levels in an organization's hierarchy.
Action plans
Quorum
Foreign Corrupt Practices Act
Decentralization