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






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






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






5. 1 Financial 2 Human 3 Physical 4 Technological






6. 1 Strategies are reviewed 2 Performance towards objective is measured 3 Corrective action is taken






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






8. 1 Population 2 Sample 3 Normal Distribution






9. Individuals or groups who depend on an organization to fulfill their own goals and on whom - in turn the organization depends.






10. 1 Attitudes towards career 2 Immigration 3 Occupational and industry skills 4 Recruitment 5 Unions 6 Unemployment 7 Turnover 8 Relocation






11. 1 Balance Scorecard






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






13. 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?






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






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






16. 1 Cost Leadership 2 Differentiation 3 Focus






17. 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)






18. Comparing similar functional firms in your industry






19. Internal Benchmarks establish levels of current performance of a particular tasks - such as cost per hire.






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






21. Comparing 1 operation in the firm with another






22. 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.






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






24. 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.






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. 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.






27. These strategy requires that organizations focus on a particular buyer group - segment of the product line or geographical market within an industry. It is build around serving particular target to the exclusion of others.






28. 1 Work Specialization 2 Departmentalization 3 Chain of Command 4 Centralization and Decentralization 5 Formalization






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






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






31. 1 Statement of the problem 2 Objectives 3 Description of potential solution 4 Project Time line 5 Project Metrics.






32. 1 Traditional Generation 2 Baby Boom Generation 3 Generation X 4 Generation Y






33. 1 Cost Benefit Analysis 2 Return On Investment 3 Breakeven Analysis 4 Financial Statement Analysis






34. 1 Preparation 2 Due Diligence 3 Planning integration of the business entities 4 Implementation - monitoring and measurement






35. 1 Age 2 Gender 3 Generational Difference 4 Geographic shifts in population 5 Ethnicity 6 Unskilled Labor 7 Non traditional labor force






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






37. 1 Global Economy 2 Wage comparison 3 Trade Agreement 4 International Labor Law






38. 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.






39. 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






40. 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






41. 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






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






43. Is part of an organization for which there is a distinct external market for goods or services that is different from another SBU






44. primary activities and support activities






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






46. 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






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






48. 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"






49. 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






50. 1 Interest Rates 2 Gross Domestic Product (GDP) 3 Consumer Price Index (CPI) 4 Disposable Income 5 Inflation