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. 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






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






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






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






5. 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.






6. They are often based on industry best practice.






7. Scheduling problems are largely resolved - and staffing and organizational culture begin to stabilize. Policies - procedures and rules are formalized and communicated to all employees. Training gains added emphasis in this phase to maintain flexibi






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






9. 1 Advances in technology 2 Technological skills 3 The digital divide 4 Process changes






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






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






12. 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






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






14. 1 Statement of the problem 2 Objectives 3 Description of potential solution 4 Project Time line 5 Project Metrics.






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






16. 1. multinational 2. global 3. transnational






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






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






19. primary activities and support activities






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






21. 1 Balance Scorecard






22. Specific - Measurable - Attainable - Realistic - Timely






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






24. It refers to relocation of processes or functions from a home country to another country and it appeals to organization for cost saving.






25. It describes an organizational challenge and possible alternative solutions - presenting evidence in support of a proposed solution. They are effective way to compete for limited resources.






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






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






28. 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






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






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






31. 1 Capacity 2 Standards 3 Scheduling 4 Inventory 5 Control






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






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






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






35. 1 Strategy Formulation 2 Strategy Development 3 Strategy Implementation 4 Strategy Evaluation






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






37. 1 Cost Leadership 2 Differentiation 3 Focus






38. Risk associated with a particular business.






39. 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






40. Quality of information and interpretation of it






41. 1 Planning 2 Organizing 3 Directing 4 Controlling






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






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






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






45. 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






46. 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.






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






48. 1 Preparation 2 Due Diligence 3 Planning integration of the business entities 4 Implementation - monitoring and measurement






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






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