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






2. Identifies stakeholder expectations and power and helps in understanding political priorities.






3. 1 Cost Leadership 2 Differentiation 3 Focus






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






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






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






7. 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.






8. Risk associated with a particular business.






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






10. 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. )






11. 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.






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






13. These strategies attempt to set the product or service apart form its competition by giving it unique characteristic that customers value and for which they will be willing to pay a premium price.






14. 1 Cost Benefit Analysis 2 Return On Investment 3 Breakeven Analysis 4 Financial Statement Analysis






15. 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.






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






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






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






19. 1 Statement of the problem 2 Objectives 3 Description of potential solution 4 Project Time line 5 Project Metrics.






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






22. Describes the structure of product - service - and information flows and the role of participating parties.






23. Comparing operations in totally unrelated industries






24. 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






25. A value creating strategy that primary increases perceived value by increasing attractiveness of product






26. Specific - Measurable - Attainable - Realistic - Timely






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.






28. 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






29. 1 The rule is proposed 2 Public comment is invited 3 The final rule is issued






30. 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






31. 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






32. 1 Introduction 2 Growth 3 Maturity 4 Decline






33. 1 Short term objective 2 Action plan to achieve these objective 3 Allocating resources 4 Motivating employees to manage the plan.






34. 1 Work Specialization 2 Departmentalization 3 Chain of Command 4 Centralization and Decentralization 5 Formalization






35. 1 Strategies are reviewed 2 Performance towards objective is measured 3 Corrective action is taken






36. 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






37. 1 Advances in technology 2 Technological skills 3 The digital divide 4 Process changes






38. 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






39. 1 Attitudes towards career 2 Immigration 3 Occupational and industry skills 4 Recruitment 5 Unions 6 Unemployment 7 Turnover 8 Relocation






40. 1 Preparation 2 Due Diligence 3 Planning integration of the business entities 4 Implementation - monitoring and measurement






41. 1 SWOT analysis and environmental scanning 2 Long term objectives 3 Strategies to achieve these objectives are defined






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






43. When a corporation can take synergistic advantage of administrative and support activities of the value chain in making an acquisition.






44. The decisions made and the direction provided for managing multiple business units under a single corporate umbrella.






45. 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.






46. Comparing similar functional firms in your industry






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






48. 1 Age 2 Gender 3 Generational Difference 4 Geographic shifts in population 5 Ethnicity 6 Unskilled Labor 7 Non traditional labor force






49. Business remain separate entities but may appear to outsiders as one entity. Commonly formed through the use of outsourcing.






50. 1 Interest Rates 2 Gross Domestic Product (GDP) 3 Consumer Price Index (CPI) 4 Disposable Income 5 Inflation







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