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






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






3. The categories of activities within and around an organization which together create a product or service.






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






5. 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.






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






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






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






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






10. 1 The rule is proposed 2 Public comment is invited 3 The final rule is issued






11. 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.






12. 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






13. Cost savings accomplished by operating combined companies more efficiently.






14. 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. )






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






16. When a corporation is able to combine similar primary value chain activities.






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






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






19. 1 Cost Leadership 2 Differentiation 3 Focus






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






21. 1 Strategy Formulation 2 Strategy Development 3 Strategy Implementation 4 Strategy Evaluation






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






23. 1 Charts and graphs 2 Measures of central tendency 3 Measures of variation 4 Measures of association






24. 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.






25. 1. information systems 2. logistics 3. HR






26. The types of decisions made and direction created for a single business






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






28. 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






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






30. 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.






31. 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.






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






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






34. 1 Statement of the problem 2 Objectives 3 Description of potential solution 4 Project Time line 5 Project Metrics.






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






36. 1 Demographic Factors 2 Economic Factors 3 Employment Factors 4 International Factors 5 Political Factors 6 Social Factors 7 Technological Factors






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






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






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






40. 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






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






42. 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






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






44. 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






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






46. Cut costs - add value - or increase prices






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






48. 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.






49. 1 Attitudes towards career 2 Immigration 3 Occupational and industry skills 4 Recruitment 5 Unions 6 Unemployment 7 Turnover 8 Relocation






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







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