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






2. 1 Experiments 2 Pilot Projects 3 Surveys/questionnaires 4 Interviews (exit - panel - individual) 5 Focus group 6 Direct observation 7 Testing






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






4. 1. improve bidding success 2. identify competitors key customers 3. identify expansion plans 4. improve understanding of competitors






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






6. 1 Preparation 2 Due Diligence 3 Planning integration of the business entities 4 Implementation - monitoring and measurement






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






8. A strategy by which an organisation offers existing products to new markets.






9. Ensure that organization's strategy and operations are consistent with each other






10. 1 Interest Rates 2 Gross Domestic Product (GDP) 3 Consumer Price Index (CPI) 4 Disposable Income 5 Inflation






11. To achieve cost advantage - an organization has to be the low cost producer in its industry.The finished products of low cost producers are sold at prices that beat the competition. These industries depend on volume to provide profit and is less bra






12. Economic - legal resp. - ethical - and discretionary






13. 1 Attitudes towards career 2 Immigration 3 Occupational and industry skills 4 Recruitment 5 Unions 6 Unemployment 7 Turnover 8 Relocation






14. 1 They can help to identify improvements in an organization's performance that can be attributed to the projects 2 They can suggest appropriate targets for improvement to be included in project objectives.






15. 1 Capacity 2 Standards 3 Scheduling 4 Inventory 5 Control






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






17. It involves data that is gathered firsthand for the specific evaluation being conduced.






18. 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)






19. 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






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






21. Risk associated with macro-economic forces.






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






23. Comparing operations in totally unrelated industries






24. Comparing a the firms operations with a direct competitor






25. Organizations within an industry with similar strategic characteristics - following similar strategies or competing on similar bases






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






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






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






30. A corporation that owns a large number of businesses that are different sizes and operate in different industry sectors.






31. 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






32. Scheduling problems are largely resolved - and staffing and organizational culture begin to stabilize. Policies - procedures and rules are formalized and communicated to all employees. Training gains added emphasis in this phase to maintain flexibi






33. 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.






34. 1. information systems 2. logistics 3. HR






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






36. Is concerned with the ways in which an organization exeeds its minimum obligations to stakeholders specified through regulation.






37. The categories of activities within and around an organization which together create a product or service.






38. Internal Benchmarks establish levels of current performance of a particular tasks - such as cost per hire.






39. Sell more in existing markets - or enter new markets






40. 1 Work Specialization 2 Departmentalization 3 Chain of Command 4 Centralization and Decentralization 5 Formalization






41. It describes an organizational challenge and possible alternative solutions - presenting evidence in support of a proposed solution. They are effective way to compete for limited resources.






42. A process and goal: the process: choices regarding acquiring and using scared resources: the goal: maintain and achieving a unique and valuable position in the international market






43. 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






44. 1 Global Economy 2 Wage comparison 3 Trade Agreement 4 International Labor Law






45. Acquisition of another company upstream (supplier) or downstream (buyer) in the value chain of the same industry in which the corporation operates.






46. 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.






47. A process where a company is bought primarily using debt. Typically engineered by management of the company - or by private equity firms.






48. Comparing 1 operation in the firm with another






49. 1 Financial 2 Human 3 Physical 4 Technological






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