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 Organizational Strategy 2 Business unit strategy 3 Functional Strategy






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






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






4. 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






5. Risk associated with macro-economic forces.






6. 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






7. Ensuring that everything is carried out according to the plan. Eg: Measuring recruiting efforts and effectiveness.






8. 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






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






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






11. 1 Strategy Formulation 2 Strategy Development 3 Strategy Implementation 4 Strategy Evaluation






12. Individuals or groups who depend on an organization to fulfill their own goals and on whom - in turn the organization depends.






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






14. Is the set of internationalization links and relationships that are necessary to create a product or service.






15. Views the world as its unit of analysis - Plants are built to provide local marketing advantages - recognizes the importance of being flexible at the country-level operations - more responsive to local needs






16. 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.






17. 1 Global Economy 2 Wage comparison 3 Trade Agreement 4 International Labor Law






18. 1 Vision and mission 2 Value Statement






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






20. 1 Traditional Generation 2 Baby Boom Generation 3 Generation X 4 Generation Y






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






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






23. The decisions made and the direction provided for managing multiple business units under a single corporate umbrella.






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






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






26. Cost savings accomplished by operating combined companies more efficiently.






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






28. Independent & entrepreneurial - adopts a more flexible approach to their international operations - More sensitive & responsive to local environment






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






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






31. When a corporation is able to combine similar primary value chain activities.






32. Collateralized Loan Obligation. Large pool of bank loans bundled together by financial services firms and sold off to investors in slices - with the goal to spread default risk "an inch deep and a mile wide"






33. 1 Cost Benefit Analysis 2 Return On Investment 3 Breakeven Analysis 4 Financial Statement Analysis






34. Corporation that owns the majority of voting shares of other companies - but that allows the other companies to operate as independent entities.






35. It refers to relocation of processes or functions from a home country to another country and it appeals to organization for cost saving.






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






37. It is based on numeric data that is analyzed with statistic method. 1 Descriptive Statistic 2 Inferential Statistic






38. 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.






39. 1 The rule is proposed 2 Public comment is invited 3 The final rule is issued






40. Where an individual (such as a corporate officer) acts on behalf of someone else (such as a shareholder)






41. A value creating strategy that creates more perceived value by primarily reducing costs






42. 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)






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






45. Cut costs - add value - or increase prices






46. primary activities and support activities






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






48. 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






49. Comparing a the firms operations with a direct competitor






50. Comparing 1 operation in the firm with another