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Test your basic knowledge |
Business Strategy
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. Describes the structure of product - service - and information flows and the role of participating parties.
Strategic capability
top-down
Unsystematic risk
Business model
2. 1. multinational 2. global 3. transnational
Differentiation
types of competitive strategies for international businesses
Unsystematic risk
type of responsibilities of a business
3. Comparing similar functional firms in your industry
functional benchmarking
Mid term Objectives
Stakeholder mapping
Stakeholders
4. When a corporation enters a new business in a different industry from that in which it currently operates and does not expect to achieve any value chain synergies through the combination.
Strategic Planning Phase
Cost Leadership
efficiency frontier
Unrelated diversification
5. The choices made through the 4 Ps : Product - Price - Place and Promotion are what makes a product or service unique. This is distinctive blend of marketing decision.
Diversification
Ethical Behavior
Marketing Mix
Porters Competitive Strategies
6. 1 Organizational Strategy 2 Business unit strategy 3 Functional Strategy
Value Statement
Strategy Development
Strategies at three levels
key to success in strategic planning
7. Comparing operations in totally unrelated industries
Off shoring
Strategic business unit (SBU)
generic benchmarking
Related diversification
8. 1 Traditional Generation 2 Baby Boom Generation 3 Generation X 4 Generation Y
Generational Difference
SWOT Analysis
Strategic business unit (SBU)
Action Plan
9. Shows the behavioral - physical and symbolic manifestations of a culture that inform and are informed by the taken-for-granted assumptions - or paradigm - of an organisation
Strategic Planning Phase
Cultural web
Due Diligence
mentality of a MNC manager
10. 1 Strategies are reviewed 2 Performance towards objective is measured 3 Corrective action is taken
Strategy Evaluation
Resources
common practices when analyzing your competition
Business Case
11. A strategy by which an organization peruses new product offerings and new markets.
Diversification
Organization Structure
Controlling
Agency
12. A value creating strategy that primary increases perceived value by increasing attractiveness of product
differentiation
Vision Statement
Dominant business
Growth
13. 1. a graph demonstrating the different positions a firm can adopt in creating value 2. compares value and differentiation (Y) versus high cost to low cost (x)
bottom-up
efficiency frontier
Balanced scorecards
Resources leverage
14. 1 Balance Scorecard
Introduction
functional benchmarking
Performance Measures
Secondary Research
15. They are often based on industry best practice.
Short term Objectives
Scenarios
External Benchmarks
benefits of competitor intelligence
16. Acquisition of a company that operates in the same industry using the same value chain.
Horizontal diversification
Methodologies Of Operations
Financial Measures
Cost Leadership
17. Corporation that owns the majority of voting shares of other companies - but that allows the other companies to operate as independent entities.
Holding company
Core Values
skills businesses need to create competitive advantage
mentality of a MNC manager
18. The organization relies on high energy and creativity. Attempts to develop products and services - decision may be made to use experiences staff so training is not an integral part of this phase. may meet or exceed the standard pay range to recruit
Introduction
top-down
Generational Difference
Descriptive Statistic
19. 1 Interest Rates 2 Gross Domestic Product (GDP) 3 Consumer Price Index (CPI) 4 Disposable Income 5 Inflation
support activities of a business
Market development
bottom-up
Economic Factors
20. 1 Planning 2 Organizing 3 Directing 4 Controlling
Management Functions
Strategic method
support activities of a business
Secondary Research
21. Divestiture in which a corporation creates a new company out of one of its businesses. The new company has its own shares of stock and shareholders - and its own board of directors. Typically - shareholders of the corporation will receive newly iss
generic benchmarking
Unrelated diversification
Corporate governance
Spin-off
22. The decisions made and the direction provided for managing multiple business units under a single corporate umbrella.
Strategies at three levels
Secondary Research
Environmental Scanning
Corporate strategy
23. 1 Population 2 Sample 3 Normal Distribution
Short term Objectives
To achieve competitive advantage and superior profitability
Junk bond
Inferential Statistic
24. It is the process that involves a systematic survey and interruption of relevant data to identify external opportunities and threats and to assess how these factors affect the organization currently and how they are likely to affect the organization
efficiency frontier
Environmental scanning
Business strategy
Descriptive Statistic
25. A merger or acquisition where there is some similarity of industry and/or value chain between the corporation and the company it seeks to acquire.
bottom-up
Methodologies Of Operations
Strategic business unit (SBU)
Related diversification
26. A plant or service department is moved to another country. Although separated geographically - the off shored entity remains part of the organization - and workers are still employees of the organization.
Operational fit
Demographic Factors
Vertical diversification
Off shoring
27. Is part of an organization for which there is a distinct external market for goods or services that is different from another SBU
Strategic business unit
Cultural web
Core Values
benefits of competitor intelligence
28. Cost savings accomplished by operating combined companies more efficiently.
Economizing
Downscoping
Dominant business
Market fit
29. They are used to condense and summarize large quantities of data for quick understanding.
differentiation
to increase profitability
Descriptive Statistic
Secondary Research
30. Acquisition of a company in a different industry - but which employs a similar value chain.
Stakeholder mapping
SPAC
Cross-sector diversification
Porters Competitive Strategies
31. A corporation that owns a large number of businesses that are different sizes and operate in different industry sectors.
Conglomerate
Strategic Planning Phase
Critical success factors
Performance Measures
32. Combine both qualitative and quantitative measures - acknowledge the expectations of different stakeholders and relate an assessment of performance to choice of strategy.
Unrelated diversification
Balanced scorecards
Controlling
Quantitative Analysis
33. 1 Charts and graphs 2 Measures of central tendency 3 Measures of variation 4 Measures of association
Market development
Related diversification
Descriptive Statistic
Vision Statement
34. A strategy by which an organization takes increased share of its existing markets with its existing product range.
Ethical Behavior
Diversification
Market Penetrati
External Benchmarks
35. Studying the future and arranging the means for dealing with it - which encompass forecasting - selling goals - and determining actions. eg: Forecasting future staffing needs.
to increase profitability
Planning
Short term Objectives
to obtain profit growth
36. Organization become entrenched in rules and policies and leadership become resistant to change. series of efforts to turn the tide such as product enhancement or cost reduction programs. If unsuccessful in these then will focus on reducing workforce
Cultural web
mentality of a MNC manager
Porters Competitive Strategies
Decline
37. When a corporation can take synergistic advantage of administrative and support activities of the value chain in making an acquisition.
Mid term Objectives
Value chain
Management fit
Planning
38. Not necessarily considered HR core function like benefits plan administration - payroll administration - and background checks - etc.
Strategic capability
Mission Statement
Corporate social responsibility
HR functions that can be outsourced
39. Private (nonpublic) corporations or partnerships that use their financial resources to engineer buyouts and acquisitions of other companies.
mentality of a MNC manager
Strategy Formulation
Planning
Private equity firm
40. A process where a large group of shareholders vote in new members to the board of directors - with the result that the new board can make changes in the company's management.
Takeover
external benchmarking
Parts of Business Case
HR functions that can be outsourced
41. High-yield debt that is rated below investment grade at the time of purchase. These bonds have a higher risk of default - but typically pay higher yields than better quality bonds in order to make them attractive to investors. Typically issued by bu
Junk bond
Primary Research
Horizontal diversification
mentality of a MNC manager
42. The benefits that develop through the extension and application of corporate resources to a newly acquired company.
Resources leverage
Primary Research
Strategic Planning
Corporate social responsibility
43. The underlying principles that guide an organization's strategy
Unsystematic risk
Core Values
Vertical diversification
Merger and Acquisition Process
44. 1 Vision and mission 2 Value Statement
Mid term Objectives
Decline
Balanced scorecards
Strategy Formulation
45. It specifies what activities the organization intends to pursue and what course of management has charted for the future. It provides general outline of how the organization will achieve the vision. It includes who the company is - what the company
Leveraged buyout (LBO)
SPAC
Strategic Planning
Mission Statement
46. Identifies stakeholder expectations and power and helps in understanding political priorities.
Corporate social responsibility
Stakeholder mapping
SWOT Analysis
Descriptive Statistic
47. The central focus of the department is the provision of goods and services to the customer. Basically this department must ensure that the product/service is produced and delivered to the customer.
Emergent Strategy
Primary Research
Operations
Strategic Planning Phase
48. It is based on numeric data that is analyzed with statistic method. 1 Descriptive Statistic 2 Inferential Statistic
Core Values
Economic Factors
Quantitative Analysis
Purpose of benchmarks
49. Specific - Measurable - Attainable - Realistic - Timely
Internal Benchmarks
Management Functions
SMART Goals
Quantitative Analysis
50. Organizations within an industry with similar strategic characteristics - following similar strategies or competing on similar bases
Strategic business unit
Core competences
Strategic Groups
Focus