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Business Planning and Performance Management Test

By webv8 / 29 December 2025

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Question 1 of 51

1. Question

What is the primary purpose of a business plan? Single Choice

To be used only when starting a new business or applying for a loan
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To look ahead, allocate resources, focus on key points, and prepare for problems and opportunities
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To satisfy annual government reporting requirements
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To document the historical performance of a business
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Question 2 of 51

2. Question

A vision statement primarily defines: Single Choice

The specific daily tasks for all employees
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The company’s profit and loss from the previous year
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Where an organization is now and where it wants to be in the future
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The marketing strategies for the next quarter
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Question 3 of 51

3. Question

According to the documents, a mission statement should quickly explain: Single Choice

The company’s complete financial history
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The personal biographies of the executive team
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The price of every product and service offered
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Who the company is, what it does, what it stands for, and why it does it
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Question 4 of 51

4. Question

Which of the following is a market research method that involves a small group of people discussing a product or service in depth? Single Choice

Telephone Survey
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Case Study
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Focus Group
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Appreciative Inquiry
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Question 5 of 51

5. Question

“Key stakeholders” are best described as those who: Single Choice

Are customers of the business
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Have the power to prevent the project from succeeding or cause it to fail
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Work for a competing organization
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Are employed by the business in any capacity
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Question 6 of 51

6. Question

Which of the following would typically be included in the Human Resources section of a business plan? Single Choice

Monthly sales projections
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Details on production arrangements
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An organizational chart and succession planning
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The advertising and promotional strategy
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Question 7 of 51

7. Question

An example of a physical resource required for a business is: Single Choice

The company’s brand reputation
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A bank loan
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Computers, office furniture, and telephones
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The skills of the employees
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Question 8 of 51

8. Question

In the structure of a business plan, “S.W.O.T. Analysis” is typically found under which section? Single Choice

The Financial Plan
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The Organisation Plan
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The Operations Plan
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The Marketing Plan
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Question 9 of 51

9. Question

What is the most powerful tool for encouraging employees and reinforcing actions you want them to continue? Single Choice

Setting more aggressive deadlines
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Timely recognition and reward
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Delegating more tasks
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Performance development planning
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Question 10 of 51

10. Question

A primary benefit of a formal performance measurement system is that it enables managers to: Single Choice

Eliminate the need for one-on-one meetings
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Focus only on financial performance
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Define and track metrics for strategic objectives and address shortfalls
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Automate the employee termination process
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Question 11 of 51

11. Question

When should system failures, product failures, and variances from the business plan be reported? Single Choice

At the end of the month
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During the annual review period
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As they occur
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Only when a customer files a formal complaint
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Question 12 of 51

12. Question

To measure success, performance reports should be analysed against: Single Choice

The performance of the company’s main competitor
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The planned objectives outlined in the business plan
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The previous month’s performance data only
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The manager’s personal expectations
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Question 13 of 51

13. Question

Which of the following is an effective way to support team members? Single Choice

Assigning extra tasks without offering help
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Avoiding all problem-solving discussions
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Providing encouragement, feedback, and assistance as required
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Sharing only negative feedback
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Question 14 of 51

14. Question

The “training gap” is defined as the difference between: Single Choice

The training budget and the actual amount spent
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The number of employees who want training and the number who receive it
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What the organization requires an employee to do and what they can actually do
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The length of the training course and the time the employee was present
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Question 15 of 51

15. Question

The Plan-Do-Check-Act (PDCA) Cycle is a tool used for: Single Choice

Initial business registration
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Continuous improvement
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Calculating year-end taxes
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Developing an advertising campaign
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Question 16 of 51

16. Question

Which of these elements belongs in the “Operations Plan” section of a business plan? Single Choice

S.W.O.T. analysis
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Profit and Loss projections
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Resumes of key personnel
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Regulatory issues, insurance, and business premises
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Question 17 of 51

17. Question

To complete the unit requirements, an individual must demonstrate knowledge of: Single Choice

Advanced software coding and development
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The complete history of international trade law
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Processes for developing business plans, performance objectives, and key stakeholders
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Graphic design principles for marketing materials
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Question 18 of 51

18. Question

When communicating your business plan, it is recommended you avoid “shorthand messages” because: Single Choice

It makes the message sound too informal
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Listeners can get lost trying to translate industry jargon and miss the context
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It is a more expensive way to communicate
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It is against company policy
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Correct

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Question 19 of 51

19. Question

Which is particularly useful for getting the story behind a participant’s experiences? Single Choice

Surveys
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Case Studies
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Interviews
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Meetings
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Correct

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Question 20 of 51

20. Question

When developing a business plan, why is it important to avoid shorthand messages? Single Choice

It makes the message sound too informal
Correct Incorrect Correct answer

Listeners can get lost trying to translate industry jargon and miss the context
Correct Incorrect Correct answer

It is a more expensive way to communicate
Correct Incorrect Correct answer

It is against company policy
Correct Incorrect Correct answer

Correct

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Question 21 of 51

21. Question

Which of the following are key components of a business plan? Multiple Answers

Marketing strategy
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Employee hobbies
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Financial projections
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Product and service descriptions
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Correct

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Question 22 of 51

22. Question

What are common elements of a mission statement? Multiple Answers

Company values
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Target market
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Employee salaries
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Business goals
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Question 23 of 51

23. Question

Why should you review pre-existing strategic plans? Multiple Answers

To identify outdated objectives
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To increase employee salaries
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To align with current market needs
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To evaluate previous performance
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Question 24 of 51

24. Question

Which methods can be used to research customer needs? Multiple Answers

Focus groups
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Surveys
Correct Incorrect Correct answer

Interviews
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Reports
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Correct

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Question 25 of 51

25. Question

What are examples of performance indicators? Multiple Answers

Profit margins
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Number of social media followers
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Customer satisfaction scores
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Sales growth
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Correct

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Question 26 of 51

26. Question

What should be included in a financial plan? Multiple Answers

Cash flow projections
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Marketing slogans
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Balance sheet
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Inventory
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Question 27 of 51

27. Question

Which stakeholders are typically involved in business planning? Multiple Answers

Customers
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Financiers
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Competitors
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Human Resources
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Correct

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Question 28 of 51

28. Question

What are benefits of performance measurement systems? Multiple Answers

Identifying underperformance
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Tracking strategic objectives
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Reducing employee workload
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Improving decision-making
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Correct

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Question 29 of 51

29. Question

What are examples of physical resources? Multiple Answers

Office furniture
Correct Incorrect Correct answer

Company logo
Correct Incorrect Correct answer

Equipment
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Technology
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Correct

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Question 30 of 51

30. Question

What types of permits or licences may be required? Multiple Answers

Environmental impact permits
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Streaming licences
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WHS permits
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Zoning permits
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Question 31 of 51

31. Question

What strategies help communicate a business plan effectively? Multiple Answers

Goal setting
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Delegation
Correct Incorrect Correct answer

Ignoring feedback
Correct Incorrect Correct answer

Newsletters
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Correct

Incorrect
Question 32 of 51

32. Question

What are ways to support team members? Multiple Answers

Providing feedback
Correct Incorrect Correct answer

Withholding information
Correct Incorrect Correct answer

Solving problems
Correct Incorrect Correct answer

Offering referrals
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Correct

Incorrect
Question 33 of 51

33. Question

What tools can be used to review system processes? Multiple Answers

Plan-Do-Check-Act cycle
Correct Incorrect Correct answer

SWOT analysis
Correct Incorrect Correct answer

Observation
Correct Incorrect Correct answer

Coin toss
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Correct

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Question 34 of 51

34. Question

What are common causes of underperformance? Multiple Answers

Lack of training
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Poor communication
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Team hostility
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Undefined goals
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Question 35 of 51

35. Question

What should be considered when developing objectives? Multiple Answers

Measurability
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Clarity
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Popularity
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Feasibility
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Question 36 of 51

36. Question

What are common market research methods? Multiple Answers

Advertisements
Correct Incorrect Correct answer

Focus groups
Correct Incorrect Correct answer

Guesswork
Correct Incorrect Correct answer

Telephone surveys
Correct Incorrect Correct answer

Correct

Incorrect
Question 37 of 51

37. Question

What are key sections of a business plan? Multiple Answers

Marketing plan
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Operations plan
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Organization plan
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Financial plan
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Question 38 of 51

38. Question

What are benefits of stakeholder consultation? Multiple Answers

Improved buy-in
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Increased resistance
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Better decision-making
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Enhanced communication
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Question 39 of 51

39. Question

What should be included in performance reports? Multiple Answers

Training data
Correct Incorrect Correct answer

Non-financial metrics
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Employee birthdays
Correct Incorrect Correct answer

Variances from plan
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Correct

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Question 40 of 51

40. Question

What actions help refine performance indicators? Multiple Answers

Reviewing trends
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Gathering feedback
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Ignoring data
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Adjusting metrics
Correct Incorrect Correct answer

Correct

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Question 41 of 51

41. Question

Fill the Gaps

BLANK 1 of 1 is a philosophy so a variety of models, tools and techniques can be derived from that philosophy.

Fill in the blank 1 of 1 is a philosophy so a variety of models, tools and techniques can be derived from that philosophy.

Correct

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Question 42 of 51

42. Question

Fill the Gaps

Managing people effectively does mean a bit of calculation, BLANK 1 of 1 and work on your part.

Managing people effectively does mean a bit of calculation, Fill in the blank 1 of 1 and work on your part.

Correct

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Question 43 of 51

43. Question

Fill the Gaps

Key BLANK 1 of 1 include affected staff and managers as well as elected members and the public.

Key Fill in the blank 1 of 1 include affected staff and managers as well as elected members and the public.

Correct

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Question 44 of 51

44. Question

Fill the Gaps

The BLANK 1 of 1 plan covers the budget, revenue, expenditures and investments of the business.

The Fill in the blank 1 of 1 plan covers the budget, revenue, expenditures and investments of the business.

Correct

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Question 45 of 51

45. Question

Fill the Gaps

Developing employee BLANK 1 of 1 is key to communicate the goals of the work.

Developing employee Fill in the blank 1 of 1 is key to communicate the goals of the work.

Correct

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Question 46 of 51

46. Question

Fill the Gaps

BLANK 1 of 1 measurement systems enable managers to define metrics for every strategic objective.

Fill in the blank 1 of 1 measurement systems enable managers to define metrics for every strategic objective.

Correct

Incorrect
Question 47 of 51

47. Question

Fill the Gaps

Timely BLANK 1 of 1 or reward is feedback that reinforces actions you wish the employee to continue with.

Timely Fill in the blank 1 of 1 or reward is feedback that reinforces actions you wish the employee to continue with.

Correct

Incorrect
Question 48 of 51

48. Question

Fill the Gaps

BLANK 1 of 1 gap is the difference between what the company requires you to do (or what it is you want to achieve), and what you can actually do.

Fill in the blank 1 of 1 gap is the difference between what the company requires you to do (or what it is you want to achieve), and what you can actually do.

Correct

Incorrect
Question 49 of 51

49. Question

Fill the Gaps

Looking for BLANK 1 of 1 can help identify the bigger picture of how performance is changing over time.

Looking for Fill in the blank 1 of 1 can help identify the bigger picture of how performance is changing over time.

Correct

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Question 50 of 51

50. Question

Fill the Gaps

BLANK 1 of 1 is the major cause of misunderstanding and misinterpretation of conversations.

Fill in the blank 1 of 1 is the major cause of misunderstanding and misinterpretation of conversations.

Correct

Incorrect

Question 51 of 51

51. Question

Match the Term to the Definition

Sort elements

Anonymous people gathered to discuss in-depth about product/service
Strategic objectives and performance metrics
Important to let employees know what is expected of them
Appropriate report for floor / junior staffs
A methodical approach to problem solving

Focus Group

Correct Incorrect Correct answer

KPIs	Correct Incorrect Correct answer

Training

Correct Incorrect Correct answer

Bulletin

Correct Incorrect Correct answer

PDCA	Correct Incorrect Correct answer

Correct

Incorrect

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