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Business Strategy
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Subject
:
business-skills
Instructions:
Answer 50 questions in 15 minutes.
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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. 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.
Junk bond
Corporate governance
Organizing
Blue ocean Strategy
2. Ensuring that everything is carried out according to the plan. Eg: Measuring recruiting efforts and effectiveness.
Controlling
External Benchmarks
Market Penetrati
mentality of a MNC manager
3. Individuals or groups who depend on an organization to fulfill their own goals and on whom - in turn the organization depends.
Business Life Cycle Phases
Blue ocean Strategy
Performance Measures
Stakeholders
4. They are often based on industry best practice.
Growth
External Benchmarks
Scope
Extended Organization
5. 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
Junk bond
Dominant business
Unrelated diversification
Management fit
6. 1 Cost Leadership 2 Differentiation 3 Focus
Stakeholders
Core competences
Agency
Porters Competitive Strategies
7. 1 Cost Benefit Analysis 2 Return On Investment 3 Breakeven Analysis 4 Financial Statement Analysis
Value Statement
To achieve competitive advantage and superior profitability
Financial Measures
Controlling
8. Value - Exploit - Rare - Imitate - Substitute
skills businesses need to create competitive advantage
STEEP
efficiency frontier
Management fit
9. The categories of activities within and around an organization which together create a product or service.
Value chain
Directing
Employment Factors
mentality of a MNC manager
10. Organizations within an industry with similar strategic characteristics - following similar strategies or competing on similar bases
Strategic Groups
Mission Statement
to maximize profits
External Benchmarks
11. Is concerned with the ways in which an organization exeeds its minimum obligations to stakeholders specified through regulation.
Corporate governance
Corporate social responsibility
key to success in strategic planning
Cost Leadership
12. 1 Short term objective 2 Action plan to achieve these objective 3 Allocating resources 4 Motivating employees to manage the plan.
Leveraged buyout (LBO)
Value Statement
Strategy Implementation
internal benchmarking
13. Special Purpose Acquisition Company. Empty-shell firms that promise to buy businesses with the proceeds of their initial public stock offerings.
top-down
key to success in strategic planning
Resources leverage
SPAC
14. 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.
Corporate strategy
types of competitive strategies for international businesses
Operations
Strategy Development
15. Where an individual (such as a corporate officer) acts on behalf of someone else (such as a shareholder)
Primary Research
Stakeholder mapping
Systematic risk
Agency
16. 1 Historical Data (HR records - census records) 2 Benchmarking and best practices reports 3 Purchased Data ( Gallup or Roper data) 4 Professional Journals - Books - and other media 5 Secondhand reports (grapevine reports)
Downscoping
Short term Objectives
Stakeholders
Secondary Research
17. 1 Planning 2 Organizing 3 Directing 4 Controlling
Cost Leadership
Business Case
Management Functions
Merger and Acquisition Process
18. They are used to condense and summarize large quantities of data for quick understanding.
STEEP
mentality of a MNC manager
Long term Objectives
Descriptive Statistic
19. A strategy by which an organization peruses new product offerings and new markets.
Methodologies Of Operations
Quantitative Analysis
key to success in strategic planning
Diversification
20. Is the set of internationalization links and relationships that are necessary to create a product or service.
key to success in strategic planning
Strategic Planning Phase
Market development
Value network
21. 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.
Ethics
Porters Competitive Strategies
International Factors
Blue ocean Strategy
22. It describes what is important to an organization and often dictate employee behavior. They are the heart of the culture of an organization.
type of responsibilities of a business
Value Statement
Related diversification
Critical success factors
23. Internal Benchmarks establish levels of current performance of a particular tasks - such as cost per hire.
Business model
Market fit
Internal Benchmarks
Descriptive Statistic
24. 1. information systems 2. logistics 3. HR
support activities of a business
generic benchmarking
Strategic method
External Benchmarks
25. 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
SWOT Analysis
Organizing
Cost Leadership
Marketing Mix
26. Views the world as its unit of analysis - Plants are built to provide local marketing advantages - recognizes the importance of being flexible at the country-level operations - more responsive to local needs
Core Values
Value Statement
External Benchmarks
mentality of MNC
27. Combine both qualitative and quantitative measures - acknowledge the expectations of different stakeholders and relate an assessment of performance to choice of strategy.
The law making Process
Balanced scorecards
Resources leverage
types of competitive strategies for international businesses
28. 1 Work Specialization 2 Departmentalization 3 Chain of Command 4 Centralization and Decentralization 5 Formalization
Environmental scanning
Off shoring
Ethics
Organization Structure
29. The benefits that develop through the extension and application of corporate resources to a newly acquired company.
Ethics
Resources leverage
Management Functions
Environmental scanning
30. Economic - legal resp. - ethical - and discretionary
Critical success factors
type of responsibilities of a business
Five Forces
value creating operations in the value chain of operation
31. 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.
Ethical Behavior
Environmental Scanning
to obtain profit growth
Downscoping
32. Acquisition of another company upstream (supplier) or downstream (buyer) in the value chain of the same industry in which the corporation operates.
Focus
skills businesses need to create competitive advantage
Vertical diversification
Vision Statement
33. It is simple and effective process for collecting information on the organization's current state. It answers four basic question.
SWOT Analysis
Strategic Planning Phase
Diversification
Conglomerate
34. 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.
top-down
Takeover
Differentiation
Inferential Statistic
35. It describes an organizational challenge and possible alternative solutions - presenting evidence in support of a proposed solution. They are effective way to compete for limited resources.
Business Case
differentiation
Business model
Methodologies Of Operations
36. The skills and abilities by which resources are deployed through an organization's activities and processes such as to achieve competitive advantage in ways that others cannot imitate or obtain.
Core competences
primary activities of a business
Marketing Mix
Corporate governance
37. A process and goal: the process: choices regarding acquiring and using scared resources: the goal: maintain and achieving a unique and valuable position in the international market
Growth
Business Life Cycle Phases
Secondary Research
international strategy
38. 1 Financial 2 Human 3 Physical 4 Technological
Resources
Environmental scanning
Differentiation
Ethics
39. 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
Maturity
to maximize profits
Organizing
Emergent Strategy
40. The organization of a set of businesses that share identical or very similar strategies or strategic challenges.
Strategic business unit (SBU)
external benchmarking
Cultural web
Generational Difference
41. 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
Code of Ethics
Strategy Formulation
top-down
PESTEL
42. Not necessarily considered HR core function like benefits plan administration - payroll administration - and background checks - etc.
HR functions that can be outsourced
Descriptive Statistic
Emergent Strategy
Stakeholder mapping
43. A strategy by which an organisation offers existing products to new markets.
Emergent Strategy
To achieve competitive advantage and superior profitability
Market development
Off shoring
44. Ability to broaden a product line or a customer base achieved through an acquisition.
mentality of a MNC manager
Scope
Unrelated diversification
Stakeholder mapping
45. Acquisition of a company in a different industry - but which employs a similar value chain.
Cross-sector diversification
Growth
Decline
Vision Statement
46. Is part of an organization for which there is a distinct external market for goods or services that is different from another SBU
Core Values
Strategic business unit
Unsystematic risk
Balanced scorecards
47. The choices made through the 4 Ps : Product - Price - Place and Promotion are what makes a product or service unique. This is distinctive blend of marketing decision.
Dominant business
Parts of Business Case
Maturity
Marketing Mix
48. Private (nonpublic) corporations or partnerships that use their financial resources to engineer buyouts and acquisitions of other companies.
Business model
SMART Goals
Private equity firm
Downscoping
49. 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
Strategic Information Systems
Diversification
Scenarios
Strategic business management
50. 1 Introduction 2 Growth 3 Maturity 4 Decline
generic benchmarking
Methodologies Of Operations
Business Life Cycle Phases
Management Functions
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