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. The underlying principles that guide an organization's strategy






2. 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.






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






4. 1 Introduction 2 Growth 3 Maturity 4 Decline






5. 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.






6. 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






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






8. 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)






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






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






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






12. 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






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






14. 1 Planning 2 Organizing 3 Directing 4 Controlling






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






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






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






18. 1 Cost Benefit Analysis 2 Return On Investment 3 Breakeven Analysis 4 Financial Statement Analysis






19. 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.






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






21. 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






22. Risk associated with macro-economic forces.






23. It is a systematic process of gathering and analyzing all relevant data about external opportunities (emerging marketplace - additional capabilities provided through new technology.) and threats (emerging competition - shifts in marketplaces. )






24. Organizations within an industry with similar strategic characteristics - following similar strategies or competing on similar bases






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






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






27. It is a process not just written project plan that helps an organization focus on how to succeed in the future - where the company is now? - where does the company want to go? - How will the company get there?






28. A value creating strategy that primary increases perceived value by increasing attractiveness of product






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






30. 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)






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






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






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






34. Often accompanied by backlogs and scheduling problems while the organization adjusts to increase demands. Policies - procedures and rules should begin to be formalized as organization needs increased structure during this phase to operate effectively






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






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






37. 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.






38. 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






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






40. 1 Financial 2 Human 3 Physical 4 Technological






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






42. Adhering to set of governing principles whether the philosophy is one of fairness - individual rights - avoiding conflicts of interest or another philosophical grounding.






43. 1 Global Economy 2 Wage comparison 3 Trade Agreement 4 International Labor Law






44. 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






45. 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.






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






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






48. 1 Short term objective 2 Action plan to achieve these objective 3 Allocating resources 4 Motivating employees to manage the plan.






49. 1 Strategy Formulation 2 Strategy Development 3 Strategy Implementation 4 Strategy Evaluation






50. 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"