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Business Strategy

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






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






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






4. A process where a company is bought primarily using debt. Typically engineered by management of the company - or by private equity firms.






5. 1 SWOT analysis and environmental scanning 2 Long term objectives 3 Strategies to achieve these objectives are defined






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






7. Comparing a the firms operations with a direct competitor






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






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






10. 1 Experiments 2 Pilot Projects 3 Surveys/questionnaires 4 Interviews (exit - panel - individual) 5 Focus group 6 Direct observation 7 Testing






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






12. 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.






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






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






15. 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






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






17. 1. multinational 2. global 3. transnational






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






19. 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






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






21. 1 Capacity 2 Standards 3 Scheduling 4 Inventory 5 Control






22. 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.






23. 1 Preparation 2 Due Diligence 3 Planning integration of the business entities 4 Implementation - monitoring and measurement






24. Economic - legal resp. - ethical - and discretionary






25. 1 Vision and mission 2 Value Statement






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






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






28. Views the world as its unit of analysis - Plants are built to provide local marketing advantages - recognizes the importance of being flexible at the country-level operations - more responsive to local needs






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. Engaging in those activities that ensure effective operation - including leadership and motivation pf employee action towards goals. eg : Scheduling and conducting interview.






31. 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






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






33. 1 Global Economy 2 Wage comparison 3 Trade Agreement 4 International Labor Law






34. 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"






35. 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.






36. Value - Exploit - Rare - Imitate - Substitute






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






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






39. 1 Introduction 2 Growth 3 Maturity 4 Decline






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






41. 1 Financial 2 Human 3 Physical 4 Technological






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






43. These are the detailed steps a unit - department - or team will take in order to achieve the short term objectives.






44. 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?






45. Ensuring that everything is carried out according to the plan. Eg: Measuring recruiting efforts and effectiveness.






46. 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






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






48. 1 Age 2 Gender 3 Generational Difference 4 Geographic shifts in population 5 Ethnicity 6 Unskilled Labor 7 Non traditional labor force






49. 1 Planning 2 Organizing 3 Directing 4 Controlling






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







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