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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. Identifies stakeholder expectations and power and helps in understanding political priorities.
Horizontal diversification
Stakeholder mapping
Cost Leadership
Vision Statement
2. 1. information systems 2. logistics 3. HR
Systematic risk
The law making Process
support activities of a business
efficiency frontier
3. The resources and competences of an organization needed for it to survive and prosper.
top-down
Strategic capability
Maturity
Directing
4. 1 Vision and mission 2 Value Statement
type of responsibilities of a business
Strategic business unit (SBU)
Planning
Strategy Formulation
5. A strategy by which an organisation offers existing products to new markets.
Cost Leadership
Market development
key to success in strategic planning
bottom-up
6. 1. R&D 2. production 3. marketing and sales 4. customer service
primary activities of a business
Core Values
Strategic Planning
Vertical diversification
7. It uses data already gathered by others and reported in various sources.
CLO
Downscoping
Secondary Research
Mission Statement
8. primary activities and support activities
value creating operations in the value chain of operation
Strategy Development
CLO
Market Penetrati
9. 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
Business Case
Quantitative Analysis
Conglomerate
Purpose of benchmarks
10. The underlying principles that guide an organization's strategy
Environmental scanning
Inferential Statistic
Corporate governance
Core Values
11. 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
Maturity
Corporate governance
Market fit
12. 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.
Strategy Evaluation
Stakeholder mapping
Business Case
SPAC
13. 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
Blue ocean Strategy
Cultural web
Porters Competitive Strategies
Management Functions
14. Risk associated with a particular business.
Organizing
SWOT Analysis
Unsystematic risk
Maturity
15. Is part of an organization for which there is a distinct external market for goods or services that is different from another SBU
Primary Research
Critical success factors
Strategic business unit
Growth
16. Independent & entrepreneurial - adopts a more flexible approach to their international operations - More sensitive & responsive to local environment
Strategic business unit
benefits of competitor intelligence
Mid term Objectives
mentality of a MNC manager
17. 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)
Long term Objectives
Business Life Cycle Phases
Agency
Secondary Research
18. A value creating strategy that creates more perceived value by primarily reducing costs
Strategic business unit (SBU)
Off shoring
low-cost strategy
Blue ocean Strategy
19. 1 Age 2 Gender 3 Generational Difference 4 Geographic shifts in population 5 Ethnicity 6 Unskilled Labor 7 Non traditional labor force
Strategy Implementation
Demographic Factors
Business strategy
Resources
20. 1 Statement of the problem 2 Objectives 3 Description of potential solution 4 Project Time line 5 Project Metrics.
Decline
Leveraged buyout (LBO)
Horizontal diversification
Parts of Business Case
21. Internal Benchmarks establish levels of current performance of a particular tasks - such as cost per hire.
Core Values
Internal Benchmarks
Value network
Descriptive Statistic
22. It is a system of moral principles and values that establish appropriate conduct.
Cost Leadership
Ethics
Related diversification
Operations
23. 1 Population 2 Sample 3 Normal Distribution
Inferential Statistic
Junk bond
internal benchmarking
Strategy Formulation
24. 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.
Leveraged buyout (LBO)
Marketing Mix
types of competitive strategies for international businesses
Business model
25. Suppliers - buyers - competitive rivalry - product substitutes and potential entrants; reinforces the importance of economic theory; analytical tool of previously lacking the field of strategy; determines the nature/level of competition and profit
Strategy Implementation
PESTEL
Five Forces
Market fit
26. New ideas should not be dismissed simply because they originated at a grassroots level. Business innovations developed under these circumstances will create new objectives or modify existing ones and create an overlay of new direction compared to wha
Emergent Strategy
Blue ocean Strategy
to obtain profit growth
Management fit
27. The central focus of the department is the provision of goods and services to the customer. Basically this department must ensure that the product/service is produced and delivered to the customer.
Operations
Critical success factors
Cultural web
External Benchmarks
28. Describes the structure of product - service - and information flows and the role of participating parties.
Corporate strategy
Business model
Environmental Scanning
key to success in strategic planning
29. Information systems with a charter to achieve competitive superiority.
HR functions that can be outsourced
Strategies at three levels
Strategic Information Systems
Strategic Planning Phase
30. 1 Demographic Factors 2 Economic Factors 3 Employment Factors 4 International Factors 5 Political Factors 6 Social Factors 7 Technological Factors
Stakeholders
Performance Measures
value creating operations in the value chain of operation
Factors that affect external environment
31. Engaging in those activities that ensure effective operation - including leadership and motivation pf employee action towards goals. eg : Scheduling and conducting interview.
Emergent Strategy
Performance Measures
Management fit
Directing
32. Where an individual (such as a corporate officer) acts on behalf of someone else (such as a shareholder)
Agency
efficiency frontier
Corporate strategy
Parts of Business Case
33. 1 Interest Rates 2 Gross Domestic Product (GDP) 3 Consumer Price Index (CPI) 4 Disposable Income 5 Inflation
Unrelated diversification
Value network
Economic Factors
Corporate strategy
34. It involves data that is gathered firsthand for the specific evaluation being conduced.
External Benchmarks
Controlling
Primary Research
Strategy Evaluation
35. A corporation that owns a large number of businesses that are different sizes and operate in different industry sectors.
Maturity
Conglomerate
Core competences
Takeover
36. Comparing operations in totally unrelated industries
Management fit
Strategic business unit
types of competitive strategies for international businesses
generic benchmarking
37. A strategy by which an organization takes increased share of its existing markets with its existing product range.
Strategic Planning Phase
Market Penetrati
Emergent Strategy
Strategic Planning
38. Cut costs - add value - or increase prices
Strategic business unit (SBU)
to increase profitability
value creating operations in the value chain of operation
Maturity
39. It is based on numeric data that is analyzed with statistic method. 1 Descriptive Statistic 2 Inferential Statistic
Quantitative Analysis
Environmental Scanning
Horizontal diversification
Market development
40. A process and goal: the process: choices regarding acquiring and using scared resources: the goal: maintain and achieving a unique and valuable position in the international market
Cost Leadership
SMART Goals
international strategy
Value Statement
41. 1 Organizational Strategy 2 Business unit strategy 3 Functional Strategy
Diversification
Generational Difference
to increase profitability
Strategies at three levels
42. Special Purpose Acquisition Company. Empty-shell firms that promise to buy businesses with the proceeds of their initial public stock offerings.
Strategies at three levels
Horizontal diversification
Parts of Business Case
SPAC
43. Corporation that owns the majority of voting shares of other companies - but that allows the other companies to operate as independent entities.
Value chain
Holding company
Resources leverage
Inferential Statistic
44. Business remain separate entities but may appear to outsiders as one entity. Commonly formed through the use of outsourcing.
common practices when analyzing your competition
Vision Statement
Extended Organization
Economizing
45. 1 Preparation 2 Due Diligence 3 Planning integration of the business entities 4 Implementation - monitoring and measurement
Merger and Acquisition Process
Dominant business
Management fit
Ethical Behavior
46. 1 Financial 2 Human 3 Physical 4 Technological
Stakeholders
Resources
Unrelated diversification
Horizontal diversification
47. A strategy by which an organization peruses new product offerings and new markets.
Diversification
Outsourcing
Planning
Management Functions
48. Combine both qualitative and quantitative measures - acknowledge the expectations of different stakeholders and relate an assessment of performance to choice of strategy.
Action Plan
Decline
Balanced scorecards
Porters Competitive Strategies
49. The benefits that develop through the extension and application of corporate resources to a newly acquired company.
Resources leverage
Growth
bottom-up
Controlling
50. 1 Cost Leadership 2 Differentiation 3 Focus
Market fit
Unsystematic risk
Porters Competitive Strategies
Core competences