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






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






3. 1. multinational 2. global 3. transnational






4. 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.






5. 1 SWOT analysis and environmental scanning 2 Long term objectives 3 Strategies to achieve these objectives are defined






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






7. 1 Organizational Strategy 2 Business unit strategy 3 Functional Strategy






8. Processes and activities used to formulate HR objectives - practices - and policies.






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






10. 1 Cost Benefit Analysis 2 Return On Investment 3 Breakeven Analysis 4 Financial Statement Analysis






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






12. 1 Advances in technology 2 Technological skills 3 The digital divide 4 Process changes






13. 1 The rule is proposed 2 Public comment is invited 3 The final rule is issued






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






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






16. 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






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






18. 1 Balance Scorecard






19. Comparing a the firms operations with a direct competitor






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






21. Where an individual (such as a corporate officer) acts on behalf of someone else (such as a shareholder)






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






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






25. 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.






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






27. 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.






28. Organization that follow this approach are not competing in an established market. They see themselves as a creating entirely new value. This strategy values innovation - creativity and rule breaking.






29. 1 Charts and graphs 2 Measures of central tendency 3 Measures of variation 4 Measures of association






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






31. 1 Preparation 2 Due Diligence 3 Planning integration of the business entities 4 Implementation - monitoring and measurement






32. 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






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






34. Quality of information and interpretation of it






35. 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.






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






37. Risk associated with macro-economic forces.






38. 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)






39. Specific - Measurable - Attainable - Realistic - Timely






40. 1 Interest Rates 2 Gross Domestic Product (GDP) 3 Consumer Price Index (CPI) 4 Disposable Income 5 Inflation






41. A strategy by which an organisation offers existing products to new markets.






42. 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.






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






44. 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






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






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






47. They are used to condense and summarize large quantities of data for quick understanding.






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






49. 1 Financial 2 Human 3 Physical 4 Technological






50. 1 Age 2 Gender 3 Generational Difference 4 Geographic shifts in population 5 Ethnicity 6 Unskilled Labor 7 Non traditional labor force