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






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






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






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






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






6. 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






7. 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"






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






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






10. 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






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






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






13. A corporation that owns a large number of businesses that are different sizes and operate in different industry sectors.






14. 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






15. Comparing a the firms operations with a direct competitor






16. 1 Advances in technology 2 Technological skills 3 The digital divide 4 Process changes






17. 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






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






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






20. 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






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






22. 1 Age 2 Gender 3 Generational Difference 4 Geographic shifts in population 5 Ethnicity 6 Unskilled Labor 7 Non traditional labor force






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






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






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






26. Ensure that organization's strategy and operations are consistent with each other






27. 1 Introduction 2 Growth 3 Maturity 4 Decline






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






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






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






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






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






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






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






35. Comparing similar functional firms in your industry






36. A strategy by which an organization peruses new product offerings and new markets.






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






38. 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.






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






40. 1 Planning 2 Organizing 3 Directing 4 Controlling






41. 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.






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






43. 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






44. 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.






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






46. 1 Preparation 2 Due Diligence 3 Planning integration of the business entities 4 Implementation - monitoring and measurement






47. 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)






48. 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






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






50. Sell more in existing markets - or enter new markets