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






2. 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






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






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






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






6. Quality of information and interpretation of it






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






8. 1 Interest Rates 2 Gross Domestic Product (GDP) 3 Consumer Price Index (CPI) 4 Disposable Income 5 Inflation






9. 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






10. They represent milestones that must be achieved in order to reach the long term objectives. They are usually within 6 months to a year.






11. Combine both qualitative and quantitative measures - acknowledge the expectations of different stakeholders and relate an assessment of performance to choice of strategy.






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






13. Private (nonpublic) corporations or partnerships that use their financial resources to engineer buyouts and acquisitions of other companies.






14. Identifies stakeholder expectations and power and helps in understanding political priorities.






15. 1 Cost Leadership 2 Differentiation 3 Focus






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






17. Comparing operations in totally unrelated industries






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






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






20. 1 Charts and graphs 2 Measures of central tendency 3 Measures of variation 4 Measures of association






21. 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.






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






23. Business remain separate entities but may appear to outsiders as one entity. Commonly formed through the use of outsourcing.






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






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






26. 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






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






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






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






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






31. 1. a graph demonstrating the different positions a firm can adopt in creating value 2. compares value and differentiation (Y) versus high cost to low cost (x)






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






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






34. 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






35. 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






36. Engaging in those activities that ensure effective operation - including leadership and motivation pf employee action towards goals. eg : Scheduling and conducting interview.






37. 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.






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






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






40. 1 Strategy Formulation 2 Strategy Development 3 Strategy Implementation 4 Strategy Evaluation






41. 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"






42. 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






43. 1 Organizational Strategy 2 Business unit strategy 3 Functional Strategy






44. Special Purpose Acquisition Company. Empty-shell firms that promise to buy businesses with the proceeds of their initial public stock offerings.






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






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






47. 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.






48. 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.






49. Risk associated with a particular business.






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