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






2. Those product features with which a organization must outperform the competition because they are particularly valued by a group of customers.






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






4. Quality of information and interpretation of it






5. A process where a company is bought primarily using debt. Typically engineered by management of the company - or by private equity firms.






6. Acquisition of another company upstream (supplier) or downstream (buyer) in the value chain of the same industry in which the corporation operates.






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






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






9. 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






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






11. 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.






12. 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






13. 1 Charts and graphs 2 Measures of central tendency 3 Measures of variation 4 Measures of association






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






15. 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.






16. Comparing similar functional firms in your industry






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






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






19. 1 Cost Benefit Analysis 2 Return On Investment 3 Breakeven Analysis 4 Financial Statement Analysis






20. 1 Strategies are reviewed 2 Performance towards objective is measured 3 Corrective action is taken






21. 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.






22. 1 Attitudes towards career 2 Immigration 3 Occupational and industry skills 4 Recruitment 5 Unions 6 Unemployment 7 Turnover 8 Relocation






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






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






25. Value - Exploit - Rare - Imitate - Substitute






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






27. 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






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






29. 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






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






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






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






33. 1 Statement of the problem 2 Objectives 3 Description of potential solution 4 Project Time line 5 Project Metrics.






34. It describes what is important to an organization and often dictate employee behavior. They are the heart of the culture of an organization.






35. 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)






36. 1 Planning 2 Organizing 3 Directing 4 Controlling






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






38. 1 Advances in technology 2 Technological skills 3 The digital divide 4 Process changes






39. To achieve cost advantage - an organization has to be the low cost producer in its industry.The finished products of low cost producers are sold at prices that beat the competition. These industries depend on volume to provide profit and is less bra






40. 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






41. 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






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






43. 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. )






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






45. Cut costs - add value - or increase prices






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






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






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






49. 1 Financial 2 Human 3 Physical 4 Technological






50. 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