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






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






3. Comparing similar functional firms in your industry






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






5. It specifies what activities the organization intends to pursue and what course of management has charted for the future. It provides general outline of how the organization will achieve the vision. It includes who the company is - what the company






6. 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






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






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






9. 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






10. 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.






11. Comparing a the firms operations with a direct competitor






12. 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






13. 1. improve bidding success 2. identify competitors key customers 3. identify expansion plans 4. improve understanding of competitors






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






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






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






17. 1 Short term objective 2 Action plan to achieve these objective 3 Allocating resources 4 Motivating employees to manage the plan.






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






19. A plant or service department is moved to another country. Although separated geographically - the off shored entity remains part of the organization - and workers are still employees of the organization.






20. 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






21. 1 Interest Rates 2 Gross Domestic Product (GDP) 3 Consumer Price Index (CPI) 4 Disposable Income 5 Inflation






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






23. It is a vivid - guiding image of the organization's desired future. It is the ultimate picture of what leadership envisions for the organization.






24. 1 Planning 2 Organizing 3 Directing 4 Controlling






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






26. Internal Benchmarks establish levels of current performance of a particular tasks - such as cost per hire.






27. The types of decisions made and direction created for a single business






28. 1 Traditional Generation 2 Baby Boom Generation 3 Generation X 4 Generation Y






29. 1 Advances in technology 2 Technological skills 3 The digital divide 4 Process changes






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






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






32. 1 Attitudes towards career 2 Immigration 3 Occupational and industry skills 4 Recruitment 5 Unions 6 Unemployment 7 Turnover 8 Relocation






33. 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.






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






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






36. 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.






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






38. Risk associated with macro-economic forces.






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






40. The underlying principles that guide an organization's strategy






41. 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






42. 1 Cost Leadership 2 Differentiation 3 Focus






43. 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.






44. They are used to condense and summarize large quantities of data for quick understanding.






45. Value - Exploit - Rare - Imitate - Substitute






46. 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.






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






48. Cut costs - add value - or increase prices






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






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