SUBJECTS
|
BROWSE
|
CAREER CENTER
|
POPULAR
|
JOIN
|
LOGIN
Business Skills
|
Soft Skills
|
Basic Literacy
|
Certifications
About
|
Help
|
Privacy
|
Terms
|
Email
Search
Test your basic knowledge |
Business Strategy
Start Test
Study First
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. information systems 2. logistics 3. HR
support activities of a business
Business Case
Financial Measures
Strategy Development
2. 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.
Related diversification
Management Functions
external benchmarking
Unrelated diversification
3. When a corporation can take synergistic advantage of administrative and support activities of the value chain in making an acquisition.
Management fit
Strategy Evaluation
Strategic Information Systems
Strategic business management
4. Organizations within an industry with similar strategic characteristics - following similar strategies or competing on similar bases
Planning
SMART Goals
Strategic Groups
Value Statement
5. 1 Global Economy 2 Wage comparison 3 Trade Agreement 4 International Labor Law
Market fit
International Factors
Inferential Statistic
Management fit
6. Processes and activities used to formulate HR objectives - practices - and policies.
Management fit
Strategic business management
Strategic capability
Unrelated diversification
7. Internal Benchmarks establish levels of current performance of a particular tasks - such as cost per hire.
Business model
Stakeholder mapping
Action Plan
Internal Benchmarks
8. 1. multinational 2. global 3. transnational
types of competitive strategies for international businesses
Short term Objectives
mentality of a MNC manager
Stakeholder mapping
9. 1 Work Specialization 2 Departmentalization 3 Chain of Command 4 Centralization and Decentralization 5 Formalization
types of competitive strategies for international businesses
Market fit
Business Life Cycle Phases
Organization Structure
10. 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
Focus
top-down
PESTEL
Maturity
11. A corporation that owns a large number of businesses that are different sizes and operate in different industry sectors.
Conglomerate
Operations
support activities of a business
Strategic Information Systems
12. 1 Attitudes towards career 2 Immigration 3 Occupational and industry skills 4 Recruitment 5 Unions 6 Unemployment 7 Turnover 8 Relocation
Diversification
Strategies at three levels
Employment Factors
Unrelated diversification
13. 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.
Downscoping
Corporate governance
benefits of competitor intelligence
Business Case
14. Corporation that owns the majority of voting shares of other companies - but that allows the other companies to operate as independent entities.
Holding company
Dominant business
Internal Benchmarks
Resources
15. 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.
common practices when analyzing your competition
Environmental scanning
Vertical diversification
Operations
16. 1 Demographic Factors 2 Economic Factors 3 Employment Factors 4 International Factors 5 Political Factors 6 Social Factors 7 Technological Factors
Five Forces
Business Case
Related diversification
Factors that affect external environment
17. 1. R&D 2. production 3. marketing and sales 4. customer service
efficiency frontier
mentality of a MNC manager
primary activities of a business
Primary Research
18. Where an individual (such as a corporate officer) acts on behalf of someone else (such as a shareholder)
Business strategy
Agency
Strategic business management
Strategic Information Systems
19. Value - Exploit - Rare - Imitate - Substitute
Primary Research
Resources leverage
skills businesses need to create competitive advantage
Planning
20. Acquisition of a company in a different industry - but which employs a similar value chain.
Cross-sector diversification
Environmental scanning
Controlling
to maximize profits
21. A value creating strategy that primary increases perceived value by increasing attractiveness of product
Corporate strategy
functional benchmarking
differentiation
Corporate governance
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.
Code of Ethics
Strategic capability
Scenarios
Purpose of benchmarks
23. 1 Cost Leadership 2 Differentiation 3 Focus
Porters Competitive Strategies
Primary Research
Off shoring
International Factors
24. 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.
mentality of MNC
Demographic Factors
SMART Goals
Organizing
25. It uses data already gathered by others and reported in various sources.
SMART Goals
Secondary Research
External Benchmarks
Technological Factors
26. A strategy by which an organisation offers existing products to new markets.
functional benchmarking
Focus
Maturity
Market development
27. 1 Balance Scorecard
Parts of Business Case
Diversification
Performance Measures
Private equity firm
28. 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
Market fit
mentality of MNC
Performance Measures
Business Case
29. 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
Spin-off
Mid term Objectives
mentality of MNC
Operational fit
30. Identifies stakeholder expectations and power and helps in understanding political priorities.
Stakeholder mapping
common practices when analyzing your competition
Operations
SPAC
31. Is part of an organization for which there is a distinct external market for goods or services that is different from another SBU
Stakeholders
Corporate governance
External Benchmarks
Strategic business unit
32. 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
mentality of a MNC manager
Cultural web
Five Forces
Vertical diversification
33. 1 Statement of the problem 2 Objectives 3 Description of potential solution 4 Project Time line 5 Project Metrics.
Balanced scorecards
Organizing
Parts of Business Case
Strategies at three levels
34. 1. improve bidding success 2. identify competitors key customers 3. identify expansion plans 4. improve understanding of competitors
Technological Factors
benefits of competitor intelligence
Corporate strategy
Junk bond
35. 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
Strategy Implementation
Cultural web
Balanced scorecards
Stakeholder mapping
36. 1 Financial 2 Human 3 Physical 4 Technological
Descriptive Statistic
Outsourcing
Strategic business management
Resources
37. Cut costs - add value - or increase prices
to increase profitability
Directing
Business Case
To achieve competitive advantage and superior profitability
38. Special Purpose Acquisition Company. Empty-shell firms that promise to buy businesses with the proceeds of their initial public stock offerings.
Downscoping
Scope
SPAC
Corporate social responsibility
39. Is the set of internationalization links and relationships that are necessary to create a product or service.
Value network
Strategic capability
bottom-up
Private equity firm
40. They represent milestones that must be achieved in order to reach the long term objectives. They are usually within 6 months to a year.
International Factors
internal benchmarking
Short term Objectives
types of competitive strategies for international businesses
41. Information systems with a charter to achieve competitive superiority.
key to success in strategic planning
Dominant business
Strategic Information Systems
bottom-up
42. The organization of a set of businesses that share identical or very similar strategies or strategic challenges.
Corporate governance
Strategic business unit (SBU)
Short term Objectives
Resources
43. 1 Planning 2 Organizing 3 Directing 4 Controlling
Secondary Research
skills businesses need to create competitive advantage
generic benchmarking
Management Functions
44. Cost savings accomplished by operating combined companies more efficiently.
Strategy Development
Factors that affect external environment
Parts of Business Case
Economizing
45. 1 Traditional Generation 2 Baby Boom Generation 3 Generation X 4 Generation Y
Extended Organization
Generational Difference
Demographic Factors
Takeover
46. Independent & entrepreneurial - adopts a more flexible approach to their international operations - More sensitive & responsive to local environment
mentality of a MNC manager
External Benchmarks
Stakeholder mapping
functional benchmarking
47. Is concerned with the ways in which an organization exeeds its minimum obligations to stakeholders specified through regulation.
Corporate social responsibility
Spin-off
external benchmarking
Focus
48. It is a system of moral principles and values that establish appropriate conduct.
Ethics
external benchmarking
Horizontal diversification
Strategic method
49. 1 Introduction 2 Growth 3 Maturity 4 Decline
support activities of a business
Primary Research
Business Life Cycle Phases
Due Diligence
50. 1 Capacity 2 Standards 3 Scheduling 4 Inventory 5 Control
Demographic Factors
to maximize profits
Operations
Methodologies Of Operations