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






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






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






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






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






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






7. Measure that indicates the relationship between two variables.






8. Combined knowledge - skills and experience of a company's employees.






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






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






11. Project planning tool that graphically displays activities of a project in sequential order and plots against time.






12. Money an organization owes its vendors and suppliers.






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






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






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






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






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






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






19. 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.






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






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






22. Action of canceling or postponing a decision or bill.






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






24. Provide the direction that enables an organization to achieve its long-term objectives.






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






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






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






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






29. 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.






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






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






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






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






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






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






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






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






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






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






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






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






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






43. Group of people born after 1980.






44. Specifies what the company does - who its customers are - and the priorities it has set in pursuing its work.






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






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






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






48. Techniques for communicating information about products to consumers.






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






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