Test your basic knowledge |

Business Strategy

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. 1 Global Economy 2 Wage comparison 3 Trade Agreement 4 International Labor Law






2. 1 Charts and graphs 2 Measures of central tendency 3 Measures of variation 4 Measures of association






3. Comparing a the firms operations with a direct competitor






4. Serve the purpose similar to short term objectives but are completed in 1 to 3 years.






5. 1 Cost Benefit Analysis 2 Return On Investment 3 Breakeven Analysis 4 Financial Statement Analysis






6. 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.






7. Is part of an organization for which there is a distinct external market for goods or services that is different from another SBU






8. 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.






9. 1 The rule is proposed 2 Public comment is invited 3 The final rule is issued






10. Information systems with a charter to achieve competitive superiority.






11. 1 Introduction 2 Growth 3 Maturity 4 Decline






12. Processes and activities used to formulate HR objectives - practices - and policies.






13. It is a system of moral principles and values that establish appropriate conduct.






14. primary activities and support activities






15. 1 Vision and mission 2 Value Statement






16. It describes a project in detail and shows how it will contribute value to the organization and provides sufficient information about how the project will be designed - implemented - and measured to enable the organization's leaders to make informe






17. 1 Interest Rates 2 Gross Domestic Product (GDP) 3 Consumer Price Index (CPI) 4 Disposable Income 5 Inflation






18. 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






19. The benefits that develop through the extension and application of corporate resources to a newly acquired company.






20. It is a vivid - guiding image of the organization's desired future. It is the ultimate picture of what leadership envisions for the organization.






21. A value creating strategy that primary increases perceived value by increasing attractiveness of product






22. 1 Age 2 Gender 3 Generational Difference 4 Geographic shifts in population 5 Ethnicity 6 Unskilled Labor 7 Non traditional labor force






23. 1 Preparation 2 Due Diligence 3 Planning integration of the business entities 4 Implementation - monitoring and measurement






24. Ability to broaden a product line or a customer base achieved through an acquisition.






25. Is concerned with the structures and systems of control by which managers are held accountable to those who have a legitimate stake an organization.






26. Comparing 1 operation in the firm with another






27. 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






28. Those product features with which a organization must outperform the competition because they are particularly valued by a group of customers.






29. 1 Historical Data (HR records - census records) 2 Benchmarking and best practices reports 3 Purchased Data ( Gallup or Roper data) 4 Professional Journals - Books - and other media 5 Secondhand reports (grapevine reports)






30. New ideas should not be dismissed simply because they originated at a grassroots level. Business innovations developed under these circumstances will create new objectives or modify existing ones and create an overlay of new direction compared to wha






31. Organization that follow this approach are not competing in an established market. They see themselves as a creating entirely new value. This strategy values innovation - creativity and rule breaking.






32. 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.






33. The political - economic - social - technological - environmental - and legal dimensions of an organization's external environment.






34. It describes what is important to an organization and often dictate employee behavior. They are the heart of the culture of an organization.






35. 1 Work Specialization 2 Departmentalization 3 Chain of Command 4 Centralization and Decentralization 5 Formalization






36. A process or function previously performed by an organization is transferred to a separate entity. The workers now performing this function are not employees of the organization but they are employees of entity to whom the work is given.






37. The types of decisions made and direction created for a single business






38. These objectives are generally achieved within 3 to 5 years. Establishing these objectives provides direction - synergy and aids in establishing guidelines for evaluation.






39. They are used to condense and summarize large quantities of data for quick understanding.






40. Acquisition of a company that operates in the same industry using the same value chain.






41. These strategy requires that organizations focus on a particular buyer group - segment of the product line or geographical market within an industry. It is build around serving particular target to the exclusion of others.






42. Value - Exploit - Rare - Imitate - Substitute






43. The underlying principles that guide an organization's strategy






44. Describes the structure of product - service - and information flows and the role of participating parties.






45. Not necessarily considered HR core function like benefits plan administration - payroll administration - and background checks - etc.






46. 1. R&D 2. production 3. marketing and sales 4. customer service






47. 1 Organizational Strategy 2 Business unit strategy 3 Functional Strategy






48. A strategy by which an organization takes increased share of its existing markets with its existing product range.






49. It is a systematic process of gathering and analyzing all relevant data about external opportunities (emerging marketplace - additional capabilities provided through new technology.) and threats (emerging competition - shifts in marketplaces. )






50. 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