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. Studying the future and arranging the means for dealing with it - which encompass forecasting - selling goals - and determining actions. eg: Forecasting future staffing needs.






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






3. 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.






4. 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






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






6. 1 Financial 2 Human 3 Physical 4 Technological






7. Acquisition of a company in a different industry - but which employs a similar value chain.






8. Quality of information and interpretation of it






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






10. 1 Preparation 2 Due Diligence 3 Planning integration of the business entities 4 Implementation - monitoring and measurement






11. primary activities and support activities






12. 1 The rule is proposed 2 Public comment is invited 3 The final rule is issued






13. 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






14. 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






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






16. 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"






17. The organization of a set of businesses that share identical or very similar strategies or strategic challenges.






18. 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.






19. It uses data already gathered by others and reported in various sources.






20. 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.






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






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






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






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






25. 1 SWOT analysis and environmental scanning 2 Long term objectives 3 Strategies to achieve these objectives are defined






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






27. 1 Interest Rates 2 Gross Domestic Product (GDP) 3 Consumer Price Index (CPI) 4 Disposable Income 5 Inflation






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






29. 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






30. 1 Statement of the problem 2 Objectives 3 Description of potential solution 4 Project Time line 5 Project Metrics.






31. Comparing 1 operation in the firm with another






32. It can be defined as principles of conduct within an organization that guide decision making and behavior.






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






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






35. 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.






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






37. Risk associated with macro-economic forces.






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






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






40. 1 Capacity 2 Standards 3 Scheduling 4 Inventory 5 Control






41. 1 Cost Leadership 2 Differentiation 3 Focus






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






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






44. 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.






45. 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






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






47. 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






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






49. 1. talking to competitors - customers - and distributors 2. testing competitors products 3. view competitors exhibits at trade shows






50. 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