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






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






3. 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






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






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






6. 1 Cost Benefit Analysis 2 Return On Investment 3 Breakeven Analysis 4 Financial Statement Analysis






7. primary activities and support activities






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






9. 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.






10. 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






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






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






13. 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






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






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






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






17. 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






18. 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






19. 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.






20. 1 Planning 2 Organizing 3 Directing 4 Controlling






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






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






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






24. Acquisition of a company that operates in the same industry using the same value chain.






25. 1 Vision and mission 2 Value Statement






26. 1 Charts and graphs 2 Measures of central tendency 3 Measures of variation 4 Measures of association






27. 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






28. Cut costs - add value - or increase prices






29. 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.






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






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






32. 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.






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






34. A strategy by which an organization peruses new product offerings and new markets.






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






36. 1 Strategies are reviewed 2 Performance towards objective is measured 3 Corrective action is taken






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






38. Ability to broaden a product line or a customer base achieved through an acquisition.






39. 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.






40. 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






41. 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.






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. 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






44. Ensure that organization's strategy and operations are consistent with each other






45. The political - economic - social - technological - environmental - and legal dimensions of an organization's external environment.






46. 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






47. Detailed and plausible views of how the business environment of an organization might develop in the future based on key drivers for change about which there is a high level of uncertainty






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






49. 1 Experiments 2 Pilot Projects 3 Surveys/questionnaires 4 Interviews (exit - panel - individual) 5 Focus group 6 Direct observation 7 Testing






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