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 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. )






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






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






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






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






6. 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






7. 1 Financial 2 Human 3 Physical 4 Technological






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






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






10. A corporation that owns a large number of businesses that are different sizes and operate in different industry sectors.






11. Serve the purpose similar to short term objectives but are completed in 1 to 3 years.






12. Special Purpose Acquisition Company. Empty-shell firms that promise to buy businesses with the proceeds of their initial public stock offerings.






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






14. 1 Strategy Formulation 2 Strategy Development 3 Strategy Implementation 4 Strategy Evaluation






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






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






17. 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






18. 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






19. Comparing 1 operation in the firm with another






20. 1 Preparation 2 Due Diligence 3 Planning integration of the business entities 4 Implementation - monitoring and measurement






21. Acquisition of a company that operates in the same industry using the same value chain.






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






23. 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






24. Organizations within an industry with similar strategic characteristics - following similar strategies or competing on similar bases






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






26. 1 Demographic Factors 2 Economic Factors 3 Employment Factors 4 International Factors 5 Political Factors 6 Social Factors 7 Technological Factors






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






28. 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






29. 1 Traditional Generation 2 Baby Boom Generation 3 Generation X 4 Generation Y






30. 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






31. When a corporation can take synergistic advantage of relationships with suppliers and/or customers in making an acquisition.






32. 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"






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






34. 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.






35. 1 Cost Benefit Analysis 2 Return On Investment 3 Breakeven Analysis 4 Financial Statement Analysis






36. 1 Population 2 Sample 3 Normal Distribution






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






38. 1 SWOT analysis and environmental scanning 2 Long term objectives 3 Strategies to achieve these objectives are defined






39. 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






40. 1 Charts and graphs 2 Measures of central tendency 3 Measures of variation 4 Measures of association






41. A participative approach to planning in which there is involvement at all levels; plans are developed at the lower levels of an organisation and funnelled up through consecutive levels until they reach top management - advantage:People are responsibl






42. primary activities and support activities






43. Is concerned with the structures and systems of control by which managers are held accountable to those who have a legitimate stake an organization.






44. Risk associated with macro-economic forces.






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






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






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






48. 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






49. 1 Experiments 2 Pilot Projects 3 Surveys/questionnaires 4 Interviews (exit - panel - individual) 5 Focus group 6 Direct observation 7 Testing






50. 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