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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. 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






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






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






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






5. 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.






6. 1 Strategy Formulation 2 Strategy Development 3 Strategy Implementation 4 Strategy Evaluation






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






8. 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.






9. Risk associated with a particular business.






10. 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






11. 1 Attitudes towards career 2 Immigration 3 Occupational and industry skills 4 Recruitment 5 Unions 6 Unemployment 7 Turnover 8 Relocation






12. 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






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






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






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






16. These are the detailed steps a unit - department - or team will take in order to achieve the short term objectives.






17. Acquisition of a company that operates in the same industry using the same value chain.






18. Individuals or groups who depend on an organization to fulfill their own goals and on whom - in turn the organization depends.






19. 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






20. 1 Age 2 Gender 3 Generational Difference 4 Geographic shifts in population 5 Ethnicity 6 Unskilled Labor 7 Non traditional labor force






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






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






23. 1 Capacity 2 Standards 3 Scheduling 4 Inventory 5 Control






24. A plant or service department is moved to another country. Although separated geographically - the off shored entity remains part of the organization - and workers are still employees of the organization.






25. 1 Vision and mission 2 Value Statement






26. 1 Financial 2 Human 3 Physical 4 Technological






27. 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)






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






29. 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.






30. 1 Cost Benefit Analysis 2 Return On Investment 3 Breakeven Analysis 4 Financial Statement Analysis






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






32. 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






33. 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






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






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






36. 1. multinational 2. global 3. transnational






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






38. 1 Preparation 2 Due Diligence 3 Planning integration of the business entities 4 Implementation - monitoring and measurement






39. 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






40. 1 Introduction 2 Growth 3 Maturity 4 Decline






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






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






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






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






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






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






47. Comparing 1 operation in the firm with another






48. Information systems with a charter to achieve competitive superiority.






49. Value - Exploit - Rare - Imitate - Substitute






50. 1 Work Specialization 2 Departmentalization 3 Chain of Command 4 Centralization and Decentralization 5 Formalization







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