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. 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.






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






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






4. To achieve cost advantage - an organization has to be the low cost producer in its industry.The finished products of low cost producers are sold at prices that beat the competition. These industries depend on volume to provide profit and is less bra






5. 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






6. 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






7. 1 Charts and graphs 2 Measures of central tendency 3 Measures of variation 4 Measures of association






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






9. 1 Introduction 2 Growth 3 Maturity 4 Decline






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






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






12. 1 Population 2 Sample 3 Normal Distribution






13. 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.






14. 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






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






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






17. These objectives are generally achieved within 3 to 5 years. Establishing these objectives provides direction - synergy and aids in establishing guidelines for evaluation.






18. 1 Vision and mission 2 Value Statement






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






20. 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.






21. 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






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






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






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






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






26. 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.






27. Processes and activities used to formulate HR objectives - practices - and policies.






28. Studying the future and arranging the means for dealing with it - which encompass forecasting - selling goals - and determining actions. eg: Forecasting future staffing needs.






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






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






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






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






33. Quality of information and interpretation of it






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






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






36. 1 The rule is proposed 2 Public comment is invited 3 The final rule is issued






37. 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






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






39. 1 Capacity 2 Standards 3 Scheduling 4 Inventory 5 Control






40. 1 Short term objective 2 Action plan to achieve these objective 3 Allocating resources 4 Motivating employees to manage the plan.






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






42. 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.






43. primary activities and support activities






44. 1 Experiments 2 Pilot Projects 3 Surveys/questionnaires 4 Interviews (exit - panel - individual) 5 Focus group 6 Direct observation 7 Testing






45. Comparing similar functional firms in your industry






46. 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.






47. 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"






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






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






50. 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.