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 Planning 2 Organizing 3 Directing 4 Controlling






2. 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.






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






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






5. Collateralized Loan Obligation. Large pool of bank loans bundled together by financial services firms and sold off to investors in slices - with the goal to spread default risk "an inch deep and a mile wide"






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






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






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






9. 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.






10. A participative approach to planning in which there is involvement at all levels; plans are developed at the lower levels of an organisation and funnelled up through consecutive levels until they reach top management - advantage:People are responsibl






11. 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






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






13. 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






14. These strategies attempt to set the product or service apart form its competition by giving it unique characteristic that customers value and for which they will be willing to pay a premium price.






15. Those product features with which a organization must outperform the competition because they are particularly valued by a group of customers.






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






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






18. 1. choose a viable position on efficiency frontier 2. configure its internal ops to support the chosen position 3.ensure firm has the right orginizational structure in place to execute its strategy






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






20. 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






21. 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






22. Comparing operations in totally unrelated industries






23. They are used to condense and summarize large quantities of data for quick understanding.






24. 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






25. 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






26. 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.






27. 1 Interest Rates 2 Gross Domestic Product (GDP) 3 Consumer Price Index (CPI) 4 Disposable Income 5 Inflation






28. 1 Capacity 2 Standards 3 Scheduling 4 Inventory 5 Control






29. Risk associated with a particular business.






30. Comparing similar functional firms in your industry






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






32. 1 Age 2 Gender 3 Generational Difference 4 Geographic shifts in population 5 Ethnicity 6 Unskilled Labor 7 Non traditional labor force






33. 1 Attitudes towards career 2 Immigration 3 Occupational and industry skills 4 Recruitment 5 Unions 6 Unemployment 7 Turnover 8 Relocation






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






35. 1 Statement of the problem 2 Objectives 3 Description of potential solution 4 Project Time line 5 Project Metrics.






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






37. 1 Cost Benefit Analysis 2 Return On Investment 3 Breakeven Analysis 4 Financial Statement Analysis






38. Specific - Measurable - Attainable - Realistic - Timely






39. 1 Preparation 2 Due Diligence 3 Planning integration of the business entities 4 Implementation - monitoring and measurement






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






41. Comparing a the firms operations with a direct competitor






42. Quality of information and interpretation of it






43. 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






44. Ensuring that everything is carried out according to the plan. Eg: Measuring recruiting efforts and effectiveness.






45. The decisions made and the direction provided for managing multiple business units under a single corporate umbrella.






46. It is a systematic process of gathering and analyzing all relevant data about external opportunities (emerging marketplace - additional capabilities provided through new technology.) and threats (emerging competition - shifts in marketplaces. )






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






48. Combine both qualitative and quantitative measures - acknowledge the expectations of different stakeholders and relate an assessment of performance to choice of strategy.






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






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