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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. Corporation that owns the majority of voting shares of other companies - but that allows the other companies to operate as independent entities.
Management fit
External Benchmarks
Holding company
Controlling
2. Identifies stakeholder expectations and power and helps in understanding political priorities.
Management fit
Stakeholder mapping
Cost Leadership
Mission Statement
3. 1 Cost Leadership 2 Differentiation 3 Focus
Porters Competitive Strategies
Code of Ethics
Horizontal diversification
Vision Statement
4. Economic - legal resp. - ethical - and discretionary
type of responsibilities of a business
Porters Competitive Strategies
Factors that affect external environment
Market development
5. A process where a company is bought primarily using debt. Typically engineered by management of the company - or by private equity firms.
Leveraged buyout (LBO)
Business Life Cycle Phases
Blue ocean Strategy
Strategic business unit
6. Engaging in those activities that ensure effective operation - including leadership and motivation pf employee action towards goals. eg : Scheduling and conducting interview.
Directing
Strategy Evaluation
Unsystematic risk
Introduction
7. 1 They can help to identify improvements in an organization's performance that can be attributed to the projects 2 They can suggest appropriate targets for improvement to be included in project objectives.
Dominant business
Purpose of benchmarks
bottom-up
external benchmarking
8. Risk associated with a particular business.
Operations
Code of Ethics
Unsystematic risk
Market Penetrati
9. Special Purpose Acquisition Company. Empty-shell firms that promise to buy businesses with the proceeds of their initial public stock offerings.
Leveraged buyout (LBO)
SPAC
Business Case
Descriptive Statistic
10. 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. )
common practices when analyzing your competition
Corporate governance
Junk bond
Environmental Scanning
11. 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.
Related diversification
benefits of competitor intelligence
Economic Factors
Emergent Strategy
12. A strategy by which an organization peruses new product offerings and new markets.
Environmental scanning
SPAC
external benchmarking
Diversification
13. 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.
Market development
Strategic Planning Phase
Systematic risk
Differentiation
14. 1 Cost Benefit Analysis 2 Return On Investment 3 Breakeven Analysis 4 Financial Statement Analysis
Operations
internal benchmarking
Financial Measures
Leveraged buyout (LBO)
15. 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.
SPAC
Corporate strategy
Mission Statement
Focus
16. Adhering to set of governing principles whether the philosophy is one of fairness - individual rights - avoiding conflicts of interest or another philosophical grounding.
Ethical Behavior
Differentiation
Cost Leadership
Parts of Business Case
17. Individuals or groups who depend on an organization to fulfill their own goals and on whom - in turn the organization depends.
Business strategy
Stakeholders
Performance Measures
Corporate social responsibility
18. Organizations within an industry with similar strategic characteristics - following similar strategies or competing on similar bases
types of competitive strategies for international businesses
Spin-off
Employment Factors
Strategic Groups
19. 1 Statement of the problem 2 Objectives 3 Description of potential solution 4 Project Time line 5 Project Metrics.
Employment Factors
efficiency frontier
Parts of Business Case
Factors that affect external environment
20. 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
to maximize profits
Environmental scanning
Strategic capability
common practices when analyzing your competition
21. It involves data that is gathered firsthand for the specific evaluation being conduced.
Primary Research
Blue ocean Strategy
Dominant business
to obtain profit growth
22. Describes the structure of product - service - and information flows and the role of participating parties.
to increase profitability
PESTEL
Environmental Scanning
Business model
23. Comparing operations in totally unrelated industries
generic benchmarking
support activities of a business
Porters Competitive Strategies
Primary Research
24. 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
Strategic Groups
top-down
primary activities of a business
Strategic Planning
25. A value creating strategy that primary increases perceived value by increasing attractiveness of product
differentiation
type of responsibilities of a business
benefits of competitor intelligence
bottom-up
26. Specific - Measurable - Attainable - Realistic - Timely
Code of Ethics
Cultural web
Stakeholder mapping
SMART Goals
27. 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.
STEEP
Leveraged buyout (LBO)
Directing
Operations
28. 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
Mid term Objectives
bottom-up
Organizing
Business Case
29. 1 The rule is proposed 2 Public comment is invited 3 The final rule is issued
The law making Process
Strategic Information Systems
low-cost strategy
PESTEL
30. 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
functional benchmarking
Environmental scanning
Inferential Statistic
Strategy Implementation
31. 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
Off shoring
Dominant business
Decline
Business strategy
32. 1 Introduction 2 Growth 3 Maturity 4 Decline
Long term Objectives
Due Diligence
Business Life Cycle Phases
Value network
33. 1 Short term objective 2 Action plan to achieve these objective 3 Allocating resources 4 Motivating employees to manage the plan.
SMART Goals
international strategy
Mission Statement
Strategy Implementation
34. 1 Work Specialization 2 Departmentalization 3 Chain of Command 4 Centralization and Decentralization 5 Formalization
Business strategy
Strategies at three levels
Organization Structure
Outsourcing
35. 1 Strategies are reviewed 2 Performance towards objective is measured 3 Corrective action is taken
to maximize profits
Primary Research
Strategy Evaluation
Strategic Planning Phase
36. 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
STEEP
Emergent Strategy
Short term Objectives
functional benchmarking
37. 1 Advances in technology 2 Technological skills 3 The digital divide 4 Process changes
Diversification
Business Case
Technological Factors
Leveraged buyout (LBO)
38. 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
Strategy Formulation
Junk bond
Economic Factors
Unsystematic risk
39. 1 Attitudes towards career 2 Immigration 3 Occupational and industry skills 4 Recruitment 5 Unions 6 Unemployment 7 Turnover 8 Relocation
top-down
Core Values
Employment Factors
Purpose of benchmarks
40. 1 Preparation 2 Due Diligence 3 Planning integration of the business entities 4 Implementation - monitoring and measurement
Strategies at three levels
Merger and Acquisition Process
Economic Factors
Value Statement
41. 1 SWOT analysis and environmental scanning 2 Long term objectives 3 Strategies to achieve these objectives are defined
Downscoping
key to success in strategic planning
Strategy Development
The law making Process
42. It is based on numeric data that is analyzed with statistic method. 1 Descriptive Statistic 2 Inferential Statistic
type of responsibilities of a business
Critical success factors
Quantitative Analysis
International Factors
43. When a corporation can take synergistic advantage of administrative and support activities of the value chain in making an acquisition.
Core Values
Management fit
Strategic business management
Cost Leadership
44. The decisions made and the direction provided for managing multiple business units under a single corporate umbrella.
Corporate strategy
Emergent Strategy
SPAC
efficiency frontier
45. 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.
Spin-off
Blue ocean Strategy
Off shoring
CLO
46. Comparing similar functional firms in your industry
Planning
Focus
functional benchmarking
Cross-sector diversification
47. A value creating strategy that creates more perceived value by primarily reducing costs
Strategic business management
Due Diligence
Performance Measures
low-cost strategy
48. 1 Age 2 Gender 3 Generational Difference 4 Geographic shifts in population 5 Ethnicity 6 Unskilled Labor 7 Non traditional labor force
Differentiation
Demographic Factors
Financial Measures
Operational fit
49. Business remain separate entities but may appear to outsiders as one entity. Commonly formed through the use of outsourcing.
Agency
Extended Organization
efficiency frontier
generic benchmarking
50. 1 Interest Rates 2 Gross Domestic Product (GDP) 3 Consumer Price Index (CPI) 4 Disposable Income 5 Inflation
common practices when analyzing your competition
Systematic risk
Market fit
Economic Factors
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