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Business Strategy
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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. primary activities and support activities
Conglomerate
value creating operations in the value chain of operation
to obtain profit growth
to maximize profits
2. 1. multinational 2. global 3. transnational
Economic Factors
Cultural web
Marketing Mix
types of competitive strategies for international businesses
3. 1 Strategies are reviewed 2 Performance towards objective is measured 3 Corrective action is taken
Takeover
Quantitative Analysis
Horizontal diversification
Strategy Evaluation
4. Cost savings accomplished by operating combined companies more efficiently.
Strategy Implementation
Stakeholder mapping
Economizing
Strategic Information Systems
5. These are the detailed steps a unit - department - or team will take in order to achieve the short term objectives.
Strategic Planning Phase
Action Plan
Economic Factors
efficiency frontier
6. 1 Demographic Factors 2 Economic Factors 3 Employment Factors 4 International Factors 5 Political Factors 6 Social Factors 7 Technological Factors
Related diversification
Value network
Factors that affect external environment
SPAC
7. 1. choose a viable position on efficiency frontier 2. configure its internal ops to support the chosen position 3.ensure firm has the right orginizational structure in place to execute its strategy
Environmental Scanning
Business Case
Strategic Planning Phase
to maximize profits
8. 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.
HR functions that can be outsourced
Takeover
Strategy Development
Short term Objectives
9. 1 Strategy Formulation 2 Strategy Development 3 Strategy Implementation 4 Strategy Evaluation
Strategic Planning Phase
Extended Organization
Secondary Research
CLO
10. 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.
Strategic Information Systems
Purpose of benchmarks
Secondary Research
Business Case
11. 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
STEEP
Ethical Behavior
Employment Factors
Strategy Implementation
12. Sell more in existing markets - or enter new markets
types of competitive strategies for international businesses
Decline
to obtain profit growth
Unrelated diversification
13. It can be defined as principles of conduct within an organization that guide decision making and behavior.
type of responsibilities of a business
Decline
Descriptive Statistic
Code of Ethics
14. Processes and activities used to formulate HR objectives - practices - and policies.
Outsourcing
Strategic business management
STEEP
Core Values
15. Adhering to set of governing principles whether the philosophy is one of fairness - individual rights - avoiding conflicts of interest or another philosophical grounding.
Mid term Objectives
Ethical Behavior
Conglomerate
Due Diligence
16. Ensuring that everything is carried out according to the plan. Eg: Measuring recruiting efforts and effectiveness.
Vertical diversification
Downscoping
Controlling
top-down
17. The organization of a set of businesses that share identical or very similar strategies or strategic challenges.
Strategic business unit (SBU)
Resources leverage
external benchmarking
Spin-off
18. 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.
Strategic method
Focus
Strategy Development
Generational Difference
19. 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
Planning
Growth
Corporate governance
20. 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
Merger and Acquisition Process
Maturity
SWOT Analysis
Growth
21. Information systems with a charter to achieve competitive superiority.
Mid term Objectives
Strategic Information Systems
Planning
skills businesses need to create competitive advantage
22. A strategy by which an organization takes increased share of its existing markets with its existing product range.
Merger and Acquisition Process
Growth
mentality of a MNC manager
Market Penetrati
23. Acquisition of another company upstream (supplier) or downstream (buyer) in the value chain of the same industry in which the corporation operates.
Organization Structure
Off shoring
Vertical diversification
Value chain
24. 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.
Cross-sector diversification
Junk bond
Descriptive Statistic
Core competences
25. Detailed and plausible views of how the business environment of an organization might develop in the future based on key drivers for change about which there is a high level of uncertainty
Organizing
Leveraged buyout (LBO)
support activities of a business
Scenarios
26. It refers to relocation of processes or functions from a home country to another country and it appeals to organization for cost saving.
Off shoring
Stakeholder mapping
Management Functions
support activities of a business
27. 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.
Marketing Mix
Primary Research
Conglomerate
generic benchmarking
28. A method of planning in which corporate hq develops and provides guidelines - disadvantages: the method of planning restricts initiative at lower level - shows insensitivity to local conditions - advantages: headquarters formulates a plan; this ensur
top-down
value creating operations in the value chain of operation
benefits of competitor intelligence
Horizontal diversification
29. Private (nonpublic) corporations or partnerships that use their financial resources to engineer buyouts and acquisitions of other companies.
Value Statement
Corporate governance
Private equity firm
External Benchmarks
30. Corporation that owns the majority of voting shares of other companies - but that allows the other companies to operate as independent entities.
mentality of a MNC manager
The law making Process
Holding company
Core competences
31. It is simple and effective process for collecting information on the organization's current state. It answers four basic question.
Management fit
SWOT Analysis
skills businesses need to create competitive advantage
Related diversification
32. 1 The rule is proposed 2 Public comment is invited 3 The final rule is issued
to obtain profit growth
Unsystematic risk
The law making Process
Strategy Development
33. 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.
Related diversification
Secondary Research
Vertical diversification
STEEP
34. 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"
Strategic business unit
Business Case
Short term Objectives
CLO
35. Is part of an organization for which there is a distinct external market for goods or services that is different from another SBU
Economic Factors
Strategic business unit
Demographic Factors
top-down
36. 1. talking to competitors - customers - and distributors 2. testing competitors products 3. view competitors exhibits at trade shows
common practices when analyzing your competition
Blue ocean Strategy
CLO
Methodologies Of Operations
37. When a corporation is able to combine similar primary value chain activities.
Growth
Controlling
Operational fit
Systematic risk
38. A value creating strategy that creates more perceived value by primarily reducing costs
low-cost strategy
Economizing
Cultural web
Strategic business unit
39. Risk associated with macro-economic forces.
Systematic risk
bottom-up
Strategy Evaluation
Planning
40. 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
Operations
Balanced scorecards
41. Studying the future and arranging the means for dealing with it - which encompass forecasting - selling goals - and determining actions. eg: Forecasting future staffing needs.
Planning
SWOT Analysis
Scope
benefits of competitor intelligence
42. When a corporation reduces its level of diversification and strategically refocuses on core businesses where the synergies of scope - economizing - and leverage are more evident and more easily realized.
Quantitative Analysis
Mid term Objectives
PESTEL
Downscoping
43. 1 Experiments 2 Pilot Projects 3 Surveys/questionnaires 4 Interviews (exit - panel - individual) 5 Focus group 6 Direct observation 7 Testing
The law making Process
Primary Research
Five Forces
External Benchmarks
44. 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.
Dominant business
Unrelated diversification
Mid term Objectives
Emergent Strategy
45. A strategy by which an organization peruses new product offerings and new markets.
Stakeholders
international strategy
Vertical diversification
Diversification
46. The resources and competences of an organization needed for it to survive and prosper.
Descriptive Statistic
Market Penetrati
Strategic capability
Leveraged buyout (LBO)
47. It uses data already gathered by others and reported in various sources.
Long term Objectives
Outsourcing
Secondary Research
Market development
48. 1 Interest Rates 2 Gross Domestic Product (GDP) 3 Consumer Price Index (CPI) 4 Disposable Income 5 Inflation
Economic Factors
Five Forces
benefits of competitor intelligence
Parts of Business Case
49. 1 Population 2 Sample 3 Normal Distribution
Extended Organization
Decline
Inferential Statistic
Strategic Planning Phase
50. Designing a structure to assist in goal accomplishment that effectively relates human and nonhuman resources to the tasks of enterprise.Eg : Designing an interview process.
international strategy
Resources leverage
Business Case
Organizing
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