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. 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






2. 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






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






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






5. 1 Financial 2 Human 3 Physical 4 Technological






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






7. 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






8. The choices made through the 4 Ps : Product - Price - Place and Promotion are what makes a product or service unique. This is distinctive blend of marketing decision.






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






10. 1 Advances in technology 2 Technological skills 3 The digital divide 4 Process changes






11. 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.






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






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






14. 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.






15. 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






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






17. Business remain separate entities but may appear to outsiders as one entity. Commonly formed through the use of outsourcing.






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






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






20. 1 Capacity 2 Standards 3 Scheduling 4 Inventory 5 Control






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






22. 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






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






24. 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






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






26. 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






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






28. Comparing 1 operation in the firm with another






29. Risk associated with macro-economic forces.






30. 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.






31. 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






32. 1. multinational 2. global 3. transnational






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






34. primary activities and support activities






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






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






37. 1 Introduction 2 Growth 3 Maturity 4 Decline






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






39. 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






40. Value - Exploit - Rare - Imitate - Substitute






41. 1 Attitudes towards career 2 Immigration 3 Occupational and industry skills 4 Recruitment 5 Unions 6 Unemployment 7 Turnover 8 Relocation






42. 1 Charts and graphs 2 Measures of central tendency 3 Measures of variation 4 Measures of association






43. 1 Short term objective 2 Action plan to achieve these objective 3 Allocating resources 4 Motivating employees to manage the plan.






44. 1 Cost Leadership 2 Differentiation 3 Focus






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






46. 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.






47. 1 Demographic Factors 2 Economic Factors 3 Employment Factors 4 International Factors 5 Political Factors 6 Social Factors 7 Technological Factors






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






49. 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"






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