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






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






3. Shows the behavioral - physical and symbolic manifestations of a culture that inform and are informed by the taken-for-granted assumptions - or paradigm - of an organisation






4. Not necessarily considered HR core function like benefits plan administration - payroll administration - and background checks - etc.






5. The organization of a set of businesses that share identical or very similar strategies or strategic challenges.






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






7. 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.






8. 1 Organizational Strategy 2 Business unit strategy 3 Functional Strategy






9. 1 Introduction 2 Growth 3 Maturity 4 Decline






10. 1 Work Specialization 2 Departmentalization 3 Chain of Command 4 Centralization and Decentralization 5 Formalization






11. It specifies what activities the organization intends to pursue and what course of management has charted for the future. It provides general outline of how the organization will achieve the vision. It includes who the company is - what the company






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






13. primary activities and support activities






14. Ensure that organization's strategy and operations are consistent with each other






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






16. 1. multinational 2. global 3. transnational






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






18. A value creating strategy that creates more perceived value by primarily reducing costs






19. 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.






20. 1. improve bidding success 2. identify competitors key customers 3. identify expansion plans 4. improve understanding of competitors






21. Combine both qualitative and quantitative measures - acknowledge the expectations of different stakeholders and relate an assessment of performance to choice of strategy.






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






23. 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






24. 1 SWOT analysis and environmental scanning 2 Long term objectives 3 Strategies to achieve these objectives are defined






25. 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






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






27. 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)






28. 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






29. 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






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






31. 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)






32. 1 Statement of the problem 2 Objectives 3 Description of potential solution 4 Project Time line 5 Project Metrics.






33. The political - economic - social - technological - environmental - and legal dimensions of an organization's external environment.






34. 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






35. 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. )






36. 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.






37. 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






38. 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.






39. 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






40. 1 Financial 2 Human 3 Physical 4 Technological






41. 1 Capacity 2 Standards 3 Scheduling 4 Inventory 5 Control






42. 1 Global Economy 2 Wage comparison 3 Trade Agreement 4 International Labor Law






43. Comparing a the firms operations with a direct competitor






44. When a corporation can take synergistic advantage of relationships with suppliers and/or customers in making an acquisition.






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






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






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






48. 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.






49. 1 Experiments 2 Pilot Projects 3 Surveys/questionnaires 4 Interviews (exit - panel - individual) 5 Focus group 6 Direct observation 7 Testing






50. Internal Benchmarks establish levels of current performance of a particular tasks - such as cost per hire.