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. 1 Vision and mission 2 Value Statement






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






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






4. Comparing operations in totally unrelated industries






5. A tool to help you think about the wider issues that have an impact on the industry or service area as a whole - taking five main categories into account: Socio-cultural - Technological - Economic - Environmental - Political






6. 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






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






8. 1 Planning 2 Organizing 3 Directing 4 Controlling






9. 1 The rule is proposed 2 Public comment is invited 3 The final rule is issued






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






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






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






13. 1 Work Specialization 2 Departmentalization 3 Chain of Command 4 Centralization and Decentralization 5 Formalization






14. It is a system of moral principles and values that establish appropriate conduct.






15. 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.






16. 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






17. 1 Advances in technology 2 Technological skills 3 The digital divide 4 Process changes






18. 1 Cost Leadership 2 Differentiation 3 Focus






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






20. 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)






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






22. 1 Global Economy 2 Wage comparison 3 Trade Agreement 4 International Labor Law






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






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






25. Suppliers - buyers - competitive rivalry - product substitutes and potential entrants; reinforces the importance of economic theory; analytical tool of previously lacking the field of strategy; determines the nature/level of competition and profit






26. 1 Introduction 2 Growth 3 Maturity 4 Decline






27. 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






28. 1 Cost Benefit Analysis 2 Return On Investment 3 Breakeven Analysis 4 Financial Statement Analysis






29. It describes what is important to an organization and often dictate employee behavior. They are the heart of the culture of an organization.






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






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






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






33. Value - Exploit - Rare - Imitate - Substitute






34. 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"






35. 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.






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






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






38. 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






39. 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






40. 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






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






42. 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.






43. 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. )






44. The resources and competences of an organization needed for it to survive and prosper.






45. 1 Preparation 2 Due Diligence 3 Planning integration of the business entities 4 Implementation - monitoring and measurement






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






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






48. 1 Interest Rates 2 Gross Domestic Product (GDP) 3 Consumer Price Index (CPI) 4 Disposable Income 5 Inflation






49. 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.






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