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. 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)






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






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






4. 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






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






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






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






8. 1 Advances in technology 2 Technological skills 3 The digital divide 4 Process changes






9. 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






10. Comparing similar functional firms in your industry






11. Comparing 1 operation in the firm with another






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






13. 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.






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






15. 1 Work Specialization 2 Departmentalization 3 Chain of Command 4 Centralization and Decentralization 5 Formalization






16. 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






17. 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.






18. 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






19. Serve the purpose similar to short term objectives but are completed in 1 to 3 years.






20. 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






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






22. 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.






23. 1 Balance Scorecard






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






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






26. 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






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






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






29. 1 Global Economy 2 Wage comparison 3 Trade Agreement 4 International Labor Law






30. Is part of an organization for which there is a distinct external market for goods or services that is different from another SBU






31. 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






32. 1 Organizational Strategy 2 Business unit strategy 3 Functional Strategy






33. 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.






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






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






36. 1 Financial 2 Human 3 Physical 4 Technological






37. The resources and competences of an organization needed for it to survive and prosper.






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






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






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






41. Information systems with a charter to achieve competitive superiority.






42. Cut costs - add value - or increase prices






43. 1 Strategy Formulation 2 Strategy Development 3 Strategy Implementation 4 Strategy Evaluation






44. 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.






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






46. To achieve cost advantage - an organization has to be the low cost producer in its industry.The finished products of low cost producers are sold at prices that beat the competition. These industries depend on volume to provide profit and is less bra






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






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






49. 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






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