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






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






3. 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"






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






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






6. 1 Balance Scorecard






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






8. 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.






9. 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






10. 1 Introduction 2 Growth 3 Maturity 4 Decline






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






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






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






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






15. 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






16. Refers to an intensive investigation of all factors surrounding a business decision to ensure that all risks are understood.






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






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






20. 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






21. 1 Traditional Generation 2 Baby Boom Generation 3 Generation X 4 Generation Y






22. 1 Experiments 2 Pilot Projects 3 Surveys/questionnaires 4 Interviews (exit - panel - individual) 5 Focus group 6 Direct observation 7 Testing






23. 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.






24. 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






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






26. 1 Cost Leadership 2 Differentiation 3 Focus






27. 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.






28. 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.






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






30. 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






31. 1 Global Economy 2 Wage comparison 3 Trade Agreement 4 International Labor Law






32. 1. multinational 2. global 3. transnational






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






34. 1 Organizational Strategy 2 Business unit strategy 3 Functional Strategy






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






36. Ensure that organization's strategy and operations are consistent with each other






37. 1 Demographic Factors 2 Economic Factors 3 Employment Factors 4 International Factors 5 Political Factors 6 Social Factors 7 Technological Factors






38. 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






39. 1 Work Specialization 2 Departmentalization 3 Chain of Command 4 Centralization and Decentralization 5 Formalization






40. 1 Interest Rates 2 Gross Domestic Product (GDP) 3 Consumer Price Index (CPI) 4 Disposable Income 5 Inflation






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






42. 1 Vision and mission 2 Value Statement






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






44. 1 SWOT analysis and environmental scanning 2 Long term objectives 3 Strategies to achieve these objectives are defined






45. Risk associated with macro-economic forces.






46. 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






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






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






49. 1. a graph demonstrating the different positions a firm can adopt in creating value 2. compares value and differentiation (Y) versus high cost to low cost (x)






50. primary activities and support activities