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. 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






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






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






4. 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.






5. It is a system of moral principles and values that establish appropriate conduct.






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






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






8. primary activities and support activities






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






11. 1 Population 2 Sample 3 Normal Distribution






12. 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






13. 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.






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






15. Cut costs - add value - or increase prices






16. 1 Age 2 Gender 3 Generational Difference 4 Geographic shifts in population 5 Ethnicity 6 Unskilled Labor 7 Non traditional labor force






17. 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






18. 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






19. 1 Experiments 2 Pilot Projects 3 Surveys/questionnaires 4 Interviews (exit - panel - individual) 5 Focus group 6 Direct observation 7 Testing






20. 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.






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






22. 1 Planning 2 Organizing 3 Directing 4 Controlling






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






24. 1 Introduction 2 Growth 3 Maturity 4 Decline






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






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






27. 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.






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






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






30. 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)






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






32. 1 Financial 2 Human 3 Physical 4 Technological






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






34. 1. information systems 2. logistics 3. HR






35. 1 Capacity 2 Standards 3 Scheduling 4 Inventory 5 Control






36. A method of planning in which corporate hq develops and provides guidelines - disadvantages: the method of planning restricts initiative at lower level - shows insensitivity to local conditions - advantages: headquarters formulates a plan; this ensur






37. Organization that follow this approach are not competing in an established market. They see themselves as a creating entirely new value. This strategy values innovation - creativity and rule breaking.






38. 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






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






40. 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






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






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






43. 1 Traditional Generation 2 Baby Boom Generation 3 Generation X 4 Generation Y






44. 1 Strategy Formulation 2 Strategy Development 3 Strategy Implementation 4 Strategy Evaluation






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






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






47. 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






48. 1 Short term objective 2 Action plan to achieve these objective 3 Allocating resources 4 Motivating employees to manage the plan.






49. It is the process that involves a systematic survey and interruption of relevant data to identify external opportunities and threats and to assess how these factors affect the organization currently and how they are likely to affect the organization






50. 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.