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






2. Value - Exploit - Rare - Imitate - Substitute






3. 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.






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






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






6. 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






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






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






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






10. 1 Demographic Factors 2 Economic Factors 3 Employment Factors 4 International Factors 5 Political Factors 6 Social Factors 7 Technological Factors






11. 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






12. Cut costs - add value - or increase prices






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






14. A process or function previously performed by an organization is transferred to a separate entity. The workers now performing this function are not employees of the organization but they are employees of entity to whom the work is given.






15. A tool to help you think about the wider issues that have an impact on the industry or service area as a whole - taking five main categories into account: Socio-cultural - Technological - Economic - Environmental - Political






16. 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?






17. It is simple and effective process for collecting information on the organization's current state. It answers four basic question.






18. 1 Statement of the problem 2 Objectives 3 Description of potential solution 4 Project Time line 5 Project Metrics.






19. It involves data that is gathered firsthand for the specific evaluation being conduced.






20. 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.






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






22. 1 Strategy Formulation 2 Strategy Development 3 Strategy Implementation 4 Strategy Evaluation






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






24. 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.






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






26. 1 SWOT analysis and environmental scanning 2 Long term objectives 3 Strategies to achieve these objectives are defined






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






28. 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)






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






30. primary activities and support activities






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






32. 1 Introduction 2 Growth 3 Maturity 4 Decline






33. 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.






34. Specific - Measurable - Attainable - Realistic - Timely






35. 1 Age 2 Gender 3 Generational Difference 4 Geographic shifts in population 5 Ethnicity 6 Unskilled Labor 7 Non traditional labor force






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






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






38. A process and goal: the process: choices regarding acquiring and using scared resources: the goal: maintain and achieving a unique and valuable position in the international market






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






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






41. 1. multinational 2. global 3. transnational






42. 1 Planning 2 Organizing 3 Directing 4 Controlling






43. 1 The rule is proposed 2 Public comment is invited 3 The final rule is issued






44. When a corporation is able to combine similar primary value chain activities.






45. 1 Capacity 2 Standards 3 Scheduling 4 Inventory 5 Control






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






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






48. 1 Charts and graphs 2 Measures of central tendency 3 Measures of variation 4 Measures of association






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






50. 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.