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






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






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






4. 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.






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






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






7. A participative approach to planning in which there is involvement at all levels; plans are developed at the lower levels of an organisation and funnelled up through consecutive levels until they reach top management - advantage:People are responsibl






8. Refers to an intensive investigation of all factors surrounding a business decision to ensure that all risks are understood.






9. 1 Cost Leadership 2 Differentiation 3 Focus






10. 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.






11. 1 Preparation 2 Due Diligence 3 Planning integration of the business entities 4 Implementation - monitoring and measurement






12. A tool to help you think about the wider issues that have an impact on the industry or service area as a whole - taking five main categories into account: Socio-cultural - Technological - Economic - Environmental - Political






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






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






15. When a corporation can take synergistic advantage of administrative and support activities of the value chain in making an acquisition.






16. They are often based on industry best practice.






17. 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






18. A company in which 70-95% of revenue comes from a single business






19. 1 Age 2 Gender 3 Generational Difference 4 Geographic shifts in population 5 Ethnicity 6 Unskilled Labor 7 Non traditional labor force






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






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






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






23. 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






24. It is simple and effective process for collecting information on the organization's current state. It answers four basic question.






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






26. Risk associated with a particular business.






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






28. 1 Charts and graphs 2 Measures of central tendency 3 Measures of variation 4 Measures of association






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






30. 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






31. 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






32. The skills and abilities by which resources are deployed through an organization's activities and processes such as to achieve competitive advantage in ways that others cannot imitate or obtain.






33. Suppliers - buyers - competitive rivalry - product substitutes and potential entrants; reinforces the importance of economic theory; analytical tool of previously lacking the field of strategy; determines the nature/level of competition and profit






34. 1 Interest Rates 2 Gross Domestic Product (GDP) 3 Consumer Price Index (CPI) 4 Disposable Income 5 Inflation






35. Specific - Measurable - Attainable - Realistic - Timely






36. These strategies attempt to set the product or service apart form its competition by giving it unique characteristic that customers value and for which they will be willing to pay a premium price.






37. Is the means by which a strategy can be pursued.






38. 1 Advances in technology 2 Technological skills 3 The digital divide 4 Process changes






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






40. When a corporation can take synergistic advantage of relationships with suppliers and/or customers in making an acquisition.






41. The resources and competences of an organization needed for it to survive and prosper.






42. 1 Global Economy 2 Wage comparison 3 Trade Agreement 4 International Labor Law






43. 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






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






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






46. 1 Balance Scorecard






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






48. 1 Capacity 2 Standards 3 Scheduling 4 Inventory 5 Control






49. 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.






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