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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. primary activities and support activities






2. 1. multinational 2. global 3. transnational






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






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






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






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






7. 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






8. 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.






9. 1 Strategy Formulation 2 Strategy Development 3 Strategy Implementation 4 Strategy Evaluation






10. 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.






11. 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






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






13. It can be defined as principles of conduct within an organization that guide decision making and behavior.






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






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






16. Ensuring that everything is carried out according to the plan. Eg: Measuring recruiting efforts and effectiveness.






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






18. 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.






19. 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






20. 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






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






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






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






24. 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.






25. Detailed and plausible views of how the business environment of an organization might develop in the future based on key drivers for change about which there is a high level of uncertainty






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






27. The choices made through the 4 Ps : Product - Price - Place and Promotion are what makes a product or service unique. This is distinctive blend of marketing decision.






28. A method of planning in which corporate hq develops and provides guidelines - disadvantages: the method of planning restricts initiative at lower level - shows insensitivity to local conditions - advantages: headquarters formulates a plan; this ensur






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






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






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






32. 1 The rule is proposed 2 Public comment is invited 3 The final rule is issued






33. 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.






34. Collateralized Loan Obligation. Large pool of bank loans bundled together by financial services firms and sold off to investors in slices - with the goal to spread default risk "an inch deep and a mile wide"






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






36. 1. talking to competitors - customers - and distributors 2. testing competitors products 3. view competitors exhibits at trade shows






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






38. A value creating strategy that creates more perceived value by primarily reducing costs






39. Risk associated with macro-economic forces.






40. 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






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






42. 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.






43. 1 Experiments 2 Pilot Projects 3 Surveys/questionnaires 4 Interviews (exit - panel - individual) 5 Focus group 6 Direct observation 7 Testing






44. 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.






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






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






47. It uses data already gathered by others and reported in various sources.






48. 1 Interest Rates 2 Gross Domestic Product (GDP) 3 Consumer Price Index (CPI) 4 Disposable Income 5 Inflation






49. 1 Population 2 Sample 3 Normal Distribution






50. 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.






Can you answer 50 questions in 15 minutes?



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