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. Describes the structure of product - service - and information flows and the role of participating parties.






2. 1. multinational 2. global 3. transnational






3. Comparing similar functional firms in your industry






4. 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.






5. 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.






6. 1 Organizational Strategy 2 Business unit strategy 3 Functional Strategy






7. Comparing operations in totally unrelated industries






8. 1 Traditional Generation 2 Baby Boom Generation 3 Generation X 4 Generation Y






9. 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






10. 1 Strategies are reviewed 2 Performance towards objective is measured 3 Corrective action is taken






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






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






13. 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)






14. 1 Balance Scorecard






15. They are often based on industry best practice.






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






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






18. 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






19. 1 Interest Rates 2 Gross Domestic Product (GDP) 3 Consumer Price Index (CPI) 4 Disposable Income 5 Inflation






20. 1 Planning 2 Organizing 3 Directing 4 Controlling






21. 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






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






23. 1 Population 2 Sample 3 Normal Distribution






24. 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






25. 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.






26. 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.






27. Is part of an organization for which there is a distinct external market for goods or services that is different from another SBU






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






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






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






31. A corporation that owns a large number of businesses that are different sizes and operate in different industry sectors.






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






33. 1 Charts and graphs 2 Measures of central tendency 3 Measures of variation 4 Measures of association






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






35. Studying the future and arranging the means for dealing with it - which encompass forecasting - selling goals - and determining actions. eg: Forecasting future staffing needs.






36. 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






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






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






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






40. 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.






41. 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






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






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






44. 1 Vision and mission 2 Value Statement






45. 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






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






47. 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.






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






49. Specific - Measurable - Attainable - Realistic - Timely






50. Organizations within an industry with similar strategic characteristics - following similar strategies or competing on similar bases