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. 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.






2. 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.






3. 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.






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






5. Risk associated with a particular business.






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






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






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






9. 1 Vision and mission 2 Value Statement






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






11. 1 Strategies are reviewed 2 Performance towards objective is measured 3 Corrective action is taken






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






13. 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






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






15. primary activities and support activities






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






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






18. They are used to condense and summarize large quantities of data for quick understanding.






19. Cost savings accomplished by operating combined companies more efficiently.






20. 1 Introduction 2 Growth 3 Maturity 4 Decline






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






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






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






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






25. It is a process not just written project plan that helps an organization focus on how to succeed in the future - where the company is now? - where does the company want to go? - How will the company get there?






26. 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.






27. Specific - Measurable - Attainable - Realistic - Timely






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






29. 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.






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






31. 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.






32. It describes a project in detail and shows how it will contribute value to the organization and provides sufficient information about how the project will be designed - implemented - and measured to enable the organization's leaders to make informe






33. Cut costs - add value - or increase prices






34. 1 Planning 2 Organizing 3 Directing 4 Controlling






35. 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






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






37. 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)






38. 1. multinational 2. global 3. transnational






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






40. 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.






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






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






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






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






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






46. Risk associated with macro-economic forces.






47. 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






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






49. 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






50. 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