BUSM 62 QUIZ Verified Exam Questions and Answers Latest update
2026/2027
Question:
1. environmental scanning
Answer:
Gathering, analyzing, and interpreting information about the external factors and trends that could
impact an organization or a specific area, such as the economy, politics, technology, and social issues.
Question:
2. offshoring
Answer:
Offshoring refers to the practice of a company relocating some of its business processes, such as
manufacturing or services, to another country, typically one with lower labor costs or other
advantages.
Question:
3. succession plan
Answer:
A succession plan is a structured strategy that outlines how an organization will transition leadership
and key roles within the company
Question:
4. forecasting
Answer:
Predicting future trends, outcomes, or events based on historical data, statistical analysis, and other
relevant information
Question:
5. Quantitative
Answer:
relating to, measuring, or measured by the quantity of something rather than its quality.
Question:
6. Qualtitative
Answer:
relating to, measuring, or measured by the quality of something rather than its quantity.
, Question:
7. HR metrics
Answer:
Specific indicators that are used to measure progress or achievement.
Question:
8. HR analysis
Answer:
An evidence-based approach to making HR decisions on the basis of quantitative tools and models
Question:
9. HR metrics
Answer:
turnover rate, time-to-fill, cost per hire, employee engagement, absenteeism rate, training and
development training, HR-to-employee ratio, performance ratings, diversity metrics, revenue per
employee
Question:
10. benchmarking
Answer:
Comparing an organization's practices, performance, or processes against those of industry peers or
best-in-class companies to identify areas for improvement and implement strategic changes.
Question:
11. Balanced Scorecard
Answer:
measurement of organizational performance in four equally important areas:
finances, customers, internal operations, and innovation and learning
Question:
12. TCOW
Answer:
Total Cost of Ownership
Question:
13. ROI
Answer:
return on investment
2026/2027
Question:
1. environmental scanning
Answer:
Gathering, analyzing, and interpreting information about the external factors and trends that could
impact an organization or a specific area, such as the economy, politics, technology, and social issues.
Question:
2. offshoring
Answer:
Offshoring refers to the practice of a company relocating some of its business processes, such as
manufacturing or services, to another country, typically one with lower labor costs or other
advantages.
Question:
3. succession plan
Answer:
A succession plan is a structured strategy that outlines how an organization will transition leadership
and key roles within the company
Question:
4. forecasting
Answer:
Predicting future trends, outcomes, or events based on historical data, statistical analysis, and other
relevant information
Question:
5. Quantitative
Answer:
relating to, measuring, or measured by the quantity of something rather than its quality.
Question:
6. Qualtitative
Answer:
relating to, measuring, or measured by the quality of something rather than its quantity.
, Question:
7. HR metrics
Answer:
Specific indicators that are used to measure progress or achievement.
Question:
8. HR analysis
Answer:
An evidence-based approach to making HR decisions on the basis of quantitative tools and models
Question:
9. HR metrics
Answer:
turnover rate, time-to-fill, cost per hire, employee engagement, absenteeism rate, training and
development training, HR-to-employee ratio, performance ratings, diversity metrics, revenue per
employee
Question:
10. benchmarking
Answer:
Comparing an organization's practices, performance, or processes against those of industry peers or
best-in-class companies to identify areas for improvement and implement strategic changes.
Question:
11. Balanced Scorecard
Answer:
measurement of organizational performance in four equally important areas:
finances, customers, internal operations, and innovation and learning
Question:
12. TCOW
Answer:
Total Cost of Ownership
Question:
13. ROI
Answer:
return on investment
