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. 1. information systems 2. logistics 3. HR






2. 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.






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






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






5. 1 Global Economy 2 Wage comparison 3 Trade Agreement 4 International Labor Law






6. Processes and activities used to formulate HR objectives - practices - and policies.






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






8. 1. multinational 2. global 3. transnational






9. 1 Work Specialization 2 Departmentalization 3 Chain of Command 4 Centralization and Decentralization 5 Formalization






10. 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






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






12. 1 Attitudes towards career 2 Immigration 3 Occupational and industry skills 4 Recruitment 5 Unions 6 Unemployment 7 Turnover 8 Relocation






13. 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.






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






15. 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.






16. 1 Demographic Factors 2 Economic Factors 3 Employment Factors 4 International Factors 5 Political Factors 6 Social Factors 7 Technological Factors






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






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






19. Value - Exploit - Rare - Imitate - Substitute






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






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






22. 1 They can help to identify improvements in an organization's performance that can be attributed to the projects 2 They can suggest appropriate targets for improvement to be included in project objectives.






23. 1 Cost Leadership 2 Differentiation 3 Focus






24. 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.






25. It uses data already gathered by others and reported in various sources.






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






27. 1 Balance Scorecard






28. 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






29. 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






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






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






32. 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






33. 1 Statement of the problem 2 Objectives 3 Description of potential solution 4 Project Time line 5 Project Metrics.






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






35. 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






36. 1 Financial 2 Human 3 Physical 4 Technological






37. Cut costs - add value - or increase prices






38. Special Purpose Acquisition Company. Empty-shell firms that promise to buy businesses with the proceeds of their initial public stock offerings.






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






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






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






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






43. 1 Planning 2 Organizing 3 Directing 4 Controlling






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






45. 1 Traditional Generation 2 Baby Boom Generation 3 Generation X 4 Generation Y






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






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






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






49. 1 Introduction 2 Growth 3 Maturity 4 Decline






50. 1 Capacity 2 Standards 3 Scheduling 4 Inventory 5 Control