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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. Modification of the Constitution or a law; may be either formal written) or informal (unwritten).
Amendment
Program evaluation review technique (PERT) chart
Balanced scorecard
Gross profit margin
2. Detailed steps a unit - department or team will take in order to achieve short term objectives
Resolution
Matrix structure
Formula budgeting
Action plans
3. Work groups that conduct the major business of an organization.
Experiment
Line units
Amendment
Matrix structure
4. Degree to which decision-making authority is given to lower levels in an organization's hierarchy.
Deductive reasoning
Decentralization
Product
Span of control
5. Process that surveys and interprets relevant data to identify external opportunities and threats.
Environmental scanning
Income statement
Bill
Sales
6. Work groups that assist line units by performing specialized services - such as HR.
Staff units
Mission statement
Sales
Balanced scorecard
7. Measure that indicates the relationship between two variables.
Return on Investment
Decentralization
Correlation
Strategic planning
8. Combined knowledge - skills and experience of a company's employees.
Vision Statement
Human capital
Sample
Sandwich generation
9. Money an organization's customers owe the organization.
Short-term objectives
Accounts receivable
Incremental budgeting
Income statement
10. Process to measure the effectiveness and efficiency of HR programs and positions.
Resolution
Amendment
HR audit
Sample
11. Project planning tool that graphically displays activities of a project in sequential order and plots against time.
Human resource management
Regulation
Mission statement
Gantt chart
12. Money an organization owes its vendors and suppliers.
Cost-benefit analysis
Bill
Liabilities
Accounts payable
13. Measures the difference between what it costs to produce a product and the selling price.
Equity
Strategic management
Control
Gross profit margin
14. Expected distribution given a random sampling of people across a large population.
Return on Investment
Assets
Divestiture
Normal distribution
15. Form of budgeting in which an average cost is applied to comparable expenses and general funding is changed by a specific amount.
Span of control
Formula budgeting
Return on Investment
Amendment
16. Milestones that must be achieved - usually within six months to one year - in order to reach long-term objectives.
Short-term objectives
Hypothesis
Capacity
Product
17. Prohibits American companies from making corrupt payments to foreign officials for the purpose of obtaining or keeping business.
Program evaluation review technique (PERT) chart
Population
Supply chain
Foreign Corrupt Practices Act
18. Form of budgeting that requires that expenditures be justified for each new period and in which budgets start at zero.
Cost-benefit analysis
Zero-based budgeting
Sample
Standard deviation
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.
Request for proposal
Divestiture
Gross profit margin
Income statement
20. Processes and activities used to formulate HR objectives practices - and policies.
Inductive reasoning
Marketing
Staff units
Strategic management
21. Rule or order issued by a government agency; often has the force of law.
Accounts receivable
Secondary research
Regulation
Virtual organization
22. Action of canceling or postponing a decision or bill.
Human capital
Veto
Generation Y
Scientific method
23. To an operations department - the ability to yield output.
Environmental scanning
Normal distribution
Experiment
Capacity
24. Provide the direction that enables an organization to achieve its long-term objectives.
Scatter diagram
Population
Ethics
Strategies
25. Meaure that indicates the relationship between data items using x and y axes.
Population
Scatter diagram
Income statement
Staff units
26. To an operations department - an after-the-fact evaluation of a company's ability to meet its own specifications and its customers' needs.
Standard deviation
Control
Zero-based budgeting
Centralization
27. Relocation of processes or functions from a "home" country to another country.
Inductive reasoning
Cost-benefit analysis
Deductive reasoning
Offshoring
28. Group of people born roughly between the years of 1965 and 1980.
Generation X
Centralization
Population
Balance sheet
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.
Range
Balanced scorecard
Marketing
Strategic planning
30. Process of planning - pricing - promoting and distributing goods and services to satisfy organizational objectives.
Centralization
Marketing
Divisional structure
Correlation
31. Short-term alliance between independent organizations in a potentially long-term relationship to design - produce - and distribute a product.
Virtual organization
Decentralization
Standard deviation
Break-even analysis
32. Process of conducting an intensive investigation of a corporation as one of the first steps in a pending merger or acquisition.
Hypothesis
Due diligence
Strategies
Deductive reasoning
33. Amount of owners' or shareholders' portion of a business.
Sandwich generation
Amendment
Equity
Program evaluation review technique (PERT) chart
34. Design of formal systems in an organization that ensure the effective and efficient use of human talent to accomplish organizational goals.
Divisional structure
Mode
Human resource management
Request for proposal
35. Average score or value in a set of data.
Scientific method
Foreign Corrupt Practices Act
Offshoring
Mean
36. Vivid - guiding image of an organization's desired future.
Vision Statement
Project
Experiment
Deductive reasoning
37. Analysis that shows point in time at which total revenue associated with a program is equal to the total cost of the program.
Break-even analysis
Primary research
Regression
Capacity
38. Specific - testable prediction that is derived from a theory and describes a relationship between two variables.
Population
Sandwich generation
Project
Hypothesis
39. Legislative measure limited in effect to either the Congress or one of its chambers.
Resolution
Divestiture
Due diligence
Balance sheet
40. Serve a purpose similar to short-term objectives but are completed in one to three years.
Mid-term objectives
Environmental scanning
Reliability
Offshoring
41. Time allowed for the public to express its views and concerns regarding an action of a regulatory agency.
Correlation
Program evaluation review technique (PERT) chart
Environmental scanning
Public comment period
42. Ratio that allows management to determine the financial impact particular activities and programs will have on a company's profitability.
Validity
Cost-benefit analysis
Experiment
Regulation
43. Group of people born after 1980.
Generation Y
Scientific method
SWOT analysis
Human Resource Information System
44. Specifies what the company does - who its customers are - and the priorities it has set in pursuing its work.
Hypothesis
Long-term objectives
Population
Mission statement
45. Based on research that uses open-ended interviewing to explore and understand attitudes - opinions - feelings - and behavior.
Incremental budgeting
SWOT analysis
Long-term objectives
Qualitative analysis
46. Vehicle for collecting information on an organization's current strengths - weaknesses - opportunities - and threats.
Regulation
Divisional structure
Secondary research
SWOT analysis
47. Involves looking at a set of observations and designing a rule that characterizes or explains a pattern underlying the observations.
Liabilities
Inductive reasoning
Foreign Corrupt Practices Act
Hypothesis
48. Techniques for communicating information about products to consumers.
Long-term objectives
Short-term objectives
Quorum
Promotion
49. Organizational structure that defines departments by what services they contribute to the organization's overall mission.
Functional structure
Control
Qualitative analysis
Vision Statement
50. Number of members of an organizaion that have to be present before official business may be conducted.
Mission statement
Quorum
Program evaluation review technique (PERT) chart
Percentile