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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. 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






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






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






4. 1 The rule is proposed 2 Public comment is invited 3 The final rule is issued






5. 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.






6. 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.






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






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






9. Acquisition of another company upstream (supplier) or downstream (buyer) in the value chain of the same industry in which the corporation operates.






10. 1 Preparation 2 Due Diligence 3 Planning integration of the business entities 4 Implementation - monitoring and measurement






11. 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.






12. Value - Exploit - Rare - Imitate - Substitute






13. Is the means by which a strategy can be pursued.






14. 1 Charts and graphs 2 Measures of central tendency 3 Measures of variation 4 Measures of association






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






16. 1 Balance Scorecard






17. 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






18. 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






19. 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






20. 1 Global Economy 2 Wage comparison 3 Trade Agreement 4 International Labor Law






21. 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?






22. 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)






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






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






25. 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)






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






27. 1 Strategy Formulation 2 Strategy Development 3 Strategy Implementation 4 Strategy Evaluation






28. Comparing operations in totally unrelated industries






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






30. 1 Experiments 2 Pilot Projects 3 Surveys/questionnaires 4 Interviews (exit - panel - individual) 5 Focus group 6 Direct observation 7 Testing






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






32. 1 Cost Benefit Analysis 2 Return On Investment 3 Breakeven Analysis 4 Financial Statement Analysis






33. 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






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






35. Refers to an intensive investigation of all factors surrounding a business decision to ensure that all risks are understood.






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






37. Comparing a the firms operations with a direct competitor






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






39. It can be defined as principles of conduct within an organization that guide decision making and behavior.






40. 1 Cost Leadership 2 Differentiation 3 Focus






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






42. 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






43. It is a vivid - guiding image of the organization's desired future. It is the ultimate picture of what leadership envisions for the organization.






44. 1 Advances in technology 2 Technological skills 3 The digital divide 4 Process changes






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






46. 1. multinational 2. global 3. transnational






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






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






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






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







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