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






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






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






4. 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.






5. Sell more in existing markets - or enter new markets






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






7. 1 Population 2 Sample 3 Normal Distribution






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






9. 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"






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






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






12. 1 Interest Rates 2 Gross Domestic Product (GDP) 3 Consumer Price Index (CPI) 4 Disposable Income 5 Inflation






13. 1 Balance Scorecard






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






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






16. 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.






17. When a corporation enters a new business in a different industry from that in which it currently operates and does not expect to achieve any value chain synergies through the combination.






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






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






20. 1 Traditional Generation 2 Baby Boom Generation 3 Generation X 4 Generation Y






21. Risk associated with macro-economic forces.






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






23. Comparing 1 operation in the firm with another






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






25. 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.






26. Value - Exploit - Rare - Imitate - Substitute






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






28. 1 Demographic Factors 2 Economic Factors 3 Employment Factors 4 International Factors 5 Political Factors 6 Social Factors 7 Technological Factors






29. 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






30. It is a process not just written project plan that helps an organization focus on how to succeed in the future - where the company is now? - where does the company want to go? - How will the company get there?






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






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






33. 1. multinational 2. global 3. transnational






34. 1 Short term objective 2 Action plan to achieve these objective 3 Allocating resources 4 Motivating employees to manage the plan.






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






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






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






38. 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






39. 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






40. New ideas should not be dismissed simply because they originated at a grassroots level. Business innovations developed under these circumstances will create new objectives or modify existing ones and create an overlay of new direction compared to wha






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






42. 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)






43. 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






44. 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.






45. 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.






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






47. The underlying principles that guide an organization's strategy






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






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






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







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