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






2. Acquisition of another company upstream (supplier) or downstream (buyer) in the value chain of the same industry in which the corporation operates.






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






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






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






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






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






8. 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






9. It can be defined as principles of conduct within an organization that guide decision making and behavior.






10. 1 Population 2 Sample 3 Normal Distribution






11. A company in which 70-95% of revenue comes from a single business






12. Comparing 1 operation in the firm with another






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






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






15. 1 SWOT analysis and environmental scanning 2 Long term objectives 3 Strategies to achieve these objectives are defined






16. Sell more in existing markets - or enter new markets






17. 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






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






19. Specific - Measurable - Attainable - Realistic - Timely






20. 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"






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






22. Is the set of internationalization links and relationships that are necessary to create a product or service.






23. 1. multinational 2. global 3. transnational






24. 1 Charts and graphs 2 Measures of central tendency 3 Measures of variation 4 Measures of association






25. 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.






26. 1 Vision and mission 2 Value Statement






27. Independent & entrepreneurial - adopts a more flexible approach to their international operations - More sensitive & responsive to local environment






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






29. 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)






30. 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.






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






32. Often accompanied by backlogs and scheduling problems while the organization adjusts to increase demands. Policies - procedures and rules should begin to be formalized as organization needs increased structure during this phase to operate effectively






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






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






35. 1. talking to competitors - customers - and distributors 2. testing competitors products 3. view competitors exhibits at trade shows






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






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






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






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






40. A process or function previously performed by an organization is transferred to a separate entity. The workers now performing this function are not employees of the organization but they are employees of entity to whom the work is given.






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






42. 1 The rule is proposed 2 Public comment is invited 3 The final rule is issued






43. 1 Work Specialization 2 Departmentalization 3 Chain of Command 4 Centralization and Decentralization 5 Formalization






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






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






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






47. primary activities and support activities






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






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






50. Comparing a the firms operations with a direct competitor