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






2. Ability of an instrument to measure consistently.






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






4. 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.






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






6. Organization's debts and other financial obligations.






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






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






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






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






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






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






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






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






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






16. 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.






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






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






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






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






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






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






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






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






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






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






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






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






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






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






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






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






33. Group of people born after 1980.






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






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






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






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






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






40. Measure that indicates the relationship between two variables.






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






42. Point below which 50% of scores in a set of data lie.






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






44. Money an organization owes its vendors and suppliers.






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






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






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






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






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






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