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. 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"






2. A value creating strategy that creates more perceived value by primarily reducing costs






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






4. 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)






5. They represent milestones that must be achieved in order to reach the long term objectives. They are usually within 6 months to a year.






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






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






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






9. 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.






10. 1 Statement of the problem 2 Objectives 3 Description of potential solution 4 Project Time line 5 Project Metrics.






11. 1 Cost Leadership 2 Differentiation 3 Focus






12. The types of decisions made and direction created for a single business






13. 1 Planning 2 Organizing 3 Directing 4 Controlling






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






15. 1 Population 2 Sample 3 Normal Distribution






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






17. A process or function previously performed by an organization is transferred to a separate entity. The workers now performing this function are not employees of the organization but they are employees of entity to whom the work is given.






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






19. 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. )






20. Comparing operations in totally unrelated industries






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






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






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






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






25. 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






26. 1 Balance Scorecard






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






28. 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






29. 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.






30. A value creating strategy that primary increases perceived value by increasing attractiveness of product






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






32. 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.






33. It describes what is important to an organization and often dictate employee behavior. They are the heart of the culture of an organization.






34. 1 Experiments 2 Pilot Projects 3 Surveys/questionnaires 4 Interviews (exit - panel - individual) 5 Focus group 6 Direct observation 7 Testing






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






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






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






38. 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.






39. 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.






40. 1. R&D 2. production 3. marketing and sales 4. customer service






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






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






43. 1 Capacity 2 Standards 3 Scheduling 4 Inventory 5 Control






44. 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.






45. 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.






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. 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






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






49. Private (nonpublic) corporations or partnerships that use their financial resources to engineer buyouts and acquisitions of other companies.






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