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Test your basic knowledge |
Business Strategy
Start Test
Study First
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. 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
The law making Process
Operations
Economic Factors
Growth
2. When a corporation is able to combine similar primary value chain activities.
Strategic business unit (SBU)
Balanced scorecards
Demographic Factors
Operational fit
3. Adhering to set of governing principles whether the philosophy is one of fairness - individual rights - avoiding conflicts of interest or another philosophical grounding.
International Factors
Operations
Methodologies Of Operations
Ethical Behavior
4. It describes what is important to an organization and often dictate employee behavior. They are the heart of the culture of an organization.
Blue ocean Strategy
Business Case
Quantitative Analysis
Value Statement
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.
Core competences
Strategic Planning Phase
primary activities of a business
value creating operations in the value chain of operation
6. They are often based on industry best practice.
to obtain profit growth
External Benchmarks
benefits of competitor intelligence
Management Functions
7. 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
top-down
Market Penetrati
Employment Factors
Maturity
8. 1. talking to competitors - customers - and distributors 2. testing competitors products 3. view competitors exhibits at trade shows
STEEP
common practices when analyzing your competition
Strategic business unit (SBU)
Corporate strategy
9. 1 Advances in technology 2 Technological skills 3 The digital divide 4 Process changes
Technological Factors
Strategic Information Systems
external benchmarking
Secondary Research
10. Studying the future and arranging the means for dealing with it - which encompass forecasting - selling goals - and determining actions. eg: Forecasting future staffing needs.
Core Values
Extended Organization
Planning
key to success in strategic planning
11. A company in which 70-95% of revenue comes from a single business
Dominant business
Primary Research
Ethics
Market fit
12. A tool to help you think about the wider issues that have an impact on the industry or service area as a whole - taking five main categories into account: Socio-cultural - Technological - Economic - Environmental - Political
Vertical diversification
STEEP
Core Values
Strategic Planning Phase
13. A strategy by which an organisation offers existing products to new markets.
types of competitive strategies for international businesses
Factors that affect external environment
Emergent Strategy
Market development
14. 1 Statement of the problem 2 Objectives 3 Description of potential solution 4 Project Time line 5 Project Metrics.
Strategies at three levels
STEEP
Parts of Business Case
Ethical Behavior
15. Private (nonpublic) corporations or partnerships that use their financial resources to engineer buyouts and acquisitions of other companies.
Private equity firm
common practices when analyzing your competition
Mid term Objectives
Long term Objectives
16. 1. multinational 2. global 3. transnational
types of competitive strategies for international businesses
differentiation
Operational fit
Business Case
17. Internal Benchmarks establish levels of current performance of a particular tasks - such as cost per hire.
mentality of MNC
Internal Benchmarks
SMART Goals
Conglomerate
18. Is concerned with the structures and systems of control by which managers are held accountable to those who have a legitimate stake an organization.
Core competences
Business model
types of competitive strategies for international businesses
Corporate governance
19. primary activities and support activities
Economic Factors
value creating operations in the value chain of operation
Employment Factors
Value network
20. Sell more in existing markets - or enter new markets
Leveraged buyout (LBO)
SMART Goals
Secondary Research
to obtain profit growth
21. 1 Balance Scorecard
Spin-off
Outsourcing
Performance Measures
Unsystematic risk
22. Specific - Measurable - Attainable - Realistic - Timely
SMART Goals
Scenarios
Strategic business unit
Resources leverage
23. The types of decisions made and direction created for a single business
Differentiation
Business strategy
Merger and Acquisition Process
Off shoring
24. It refers to relocation of processes or functions from a home country to another country and it appeals to organization for cost saving.
Critical success factors
Focus
Vision Statement
Off shoring
25. 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.
Business Case
internal benchmarking
Market fit
CLO
26. It involves data that is gathered firsthand for the specific evaluation being conduced.
Inferential Statistic
Management Functions
Cultural web
Primary Research
27. Special Purpose Acquisition Company. Empty-shell firms that promise to buy businesses with the proceeds of their initial public stock offerings.
Business Case
SPAC
Leveraged buyout (LBO)
value creating operations in the value chain of operation
28. 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
Spin-off
Vision Statement
Strategic Information Systems
Strategic business unit
29. Is the set of internationalization links and relationships that are necessary to create a product or service.
Introduction
Primary Research
Value network
Internal Benchmarks
30. Describes the structure of product - service - and information flows and the role of participating parties.
Action Plan
Related diversification
Strategy Formulation
Business model
31. 1 Capacity 2 Standards 3 Scheduling 4 Inventory 5 Control
Strategies at three levels
Methodologies Of Operations
Vertical diversification
Conglomerate
32. Individuals or groups who depend on an organization to fulfill their own goals and on whom - in turn the organization depends.
Blue ocean Strategy
Stakeholders
The law making Process
Strategic business unit
33. Is the means by which a strategy can be pursued.
Action Plan
Management Functions
Business Case
Strategic method
34. Organizations within an industry with similar strategic characteristics - following similar strategies or competing on similar bases
Factors that affect external environment
Market Penetrati
Strategic Groups
Operations
35. 1 Strategy Formulation 2 Strategy Development 3 Strategy Implementation 4 Strategy Evaluation
Strategic Planning Phase
Due Diligence
SMART Goals
to maximize profits
36. A process where a company is bought primarily using debt. Typically engineered by management of the company - or by private equity firms.
Value chain
Performance Measures
Strategies at three levels
Leveraged buyout (LBO)
37. 1 Cost Leadership 2 Differentiation 3 Focus
Porters Competitive Strategies
external benchmarking
Leveraged buyout (LBO)
Cross-sector diversification
38. Risk associated with a particular business.
Market Penetrati
Five Forces
Cross-sector diversification
Unsystematic risk
39. 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
Decline
bottom-up
Ethical Behavior
Stakeholders
40. Quality of information and interpretation of it
Descriptive Statistic
key to success in strategic planning
support activities of a business
Takeover
41. 1 Planning 2 Organizing 3 Directing 4 Controlling
Mid term Objectives
Technological Factors
Management Functions
common practices when analyzing your competition
42. A corporation that owns a large number of businesses that are different sizes and operate in different industry sectors.
Conglomerate
Strategic business management
Operations
Extended Organization
43. Acquisition of a company in a different industry - but which employs a similar value chain.
Cross-sector diversification
Outsourcing
Strategic Information Systems
Organization Structure
44. Independent & entrepreneurial - adopts a more flexible approach to their international operations - More sensitive & responsive to local environment
Employment Factors
mentality of a MNC manager
primary activities of a business
Planning
45. 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
Directing
mentality of MNC
PESTEL
Mid term Objectives
46. When a corporation reduces its level of diversification and strategically refocuses on core businesses where the synergies of scope - economizing - and leverage are more evident and more easily realized.
Business Case
Downscoping
Business model
Factors that affect external environment
47. It can be defined as principles of conduct within an organization that guide decision making and behavior.
low-cost strategy
differentiation
Code of Ethics
mentality of MNC
48. 1 Preparation 2 Due Diligence 3 Planning integration of the business entities 4 Implementation - monitoring and measurement
Corporate social responsibility
Systematic risk
Ethics
Merger and Acquisition Process
49. The categories of activities within and around an organization which together create a product or service.
Value chain
Decline
Organizing
Corporate strategy
50. Economic - legal resp. - ethical - and discretionary
type of responsibilities of a business
SPAC
benefits of competitor intelligence
Marketing Mix