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. Independent & entrepreneurial - adopts a more flexible approach to their international operations - More sensitive & responsive to local environment






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






3. 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"






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






5. 1 Strategy Formulation 2 Strategy Development 3 Strategy Implementation 4 Strategy Evaluation






6. 1 Traditional Generation 2 Baby Boom Generation 3 Generation X 4 Generation Y






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






8. Where an individual (such as a corporate officer) acts on behalf of someone else (such as a shareholder)






9. 1 Interest Rates 2 Gross Domestic Product (GDP) 3 Consumer Price Index (CPI) 4 Disposable Income 5 Inflation






10. A strategy by which an organisation offers existing products to new markets.






11. 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.






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






13. 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.






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






15. 1. multinational 2. global 3. transnational






16. Value - Exploit - Rare - Imitate - Substitute






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






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






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






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






21. 1 Work Specialization 2 Departmentalization 3 Chain of Command 4 Centralization and Decentralization 5 Formalization






22. 1 The rule is proposed 2 Public comment is invited 3 The final rule is issued






23. Risk associated with macro-economic forces.






24. 1 Preparation 2 Due Diligence 3 Planning integration of the business entities 4 Implementation - monitoring and measurement






25. 1 Attitudes towards career 2 Immigration 3 Occupational and industry skills 4 Recruitment 5 Unions 6 Unemployment 7 Turnover 8 Relocation






26. 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






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






28. Is concerned with the structures and systems of control by which managers are held accountable to those who have a legitimate stake an organization.






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






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






31. 1 Introduction 2 Growth 3 Maturity 4 Decline






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






33. Comparing a the firms operations with a direct competitor






34. 1 Balance Scorecard






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






36. Is concerned with the ways in which an organization exeeds its minimum obligations to stakeholders specified through regulation.






37. A value creating strategy that primary increases perceived value by increasing attractiveness of product






38. 1 Short term objective 2 Action plan to achieve these objective 3 Allocating resources 4 Motivating employees to manage the plan.






39. 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)






40. 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






41. 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






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. Private (nonpublic) corporations or partnerships that use their financial resources to engineer buyouts and acquisitions of other companies.






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






45. 1. R&D 2. production 3. marketing and sales 4. customer service






46. 1 Age 2 Gender 3 Generational Difference 4 Geographic shifts in population 5 Ethnicity 6 Unskilled Labor 7 Non traditional labor force






47. Acquisition of a company in a different industry - but which employs a similar value chain.






48. 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.






49. 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






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