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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 Global Economy 2 Wage comparison 3 Trade Agreement 4 International Labor Law
Environmental scanning
International Factors
Unrelated diversification
Parts of Business Case
2. Acquisition of another company upstream (supplier) or downstream (buyer) in the value chain of the same industry in which the corporation operates.
Short term Objectives
Secondary Research
Related diversification
Vertical diversification
3. 1 Demographic Factors 2 Economic Factors 3 Employment Factors 4 International Factors 5 Political Factors 6 Social Factors 7 Technological Factors
Strategic Groups
bottom-up
generic benchmarking
Factors that affect external environment
4. 1. R&D 2. production 3. marketing and sales 4. customer service
Strategic Groups
Resources leverage
primary activities of a business
benefits of competitor intelligence
5. When a corporation can take synergistic advantage of administrative and support activities of the value chain in making an acquisition.
Scenarios
Market fit
Management fit
Demographic Factors
6. Processes and activities used to formulate HR objectives - practices - and policies.
Takeover
Strategic business management
Strategic business unit (SBU)
Corporate social responsibility
7. Organizations within an industry with similar strategic characteristics - following similar strategies or competing on similar bases
Balanced scorecards
mentality of a MNC manager
primary activities of a business
Strategic Groups
8. 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.
Mission Statement
bottom-up
Related diversification
Leveraged buyout (LBO)
9. 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
Strategic business unit (SBU)
mentality of MNC
Purpose of benchmarks
Descriptive Statistic
10. A value creating strategy that creates more perceived value by primarily reducing costs
Employment Factors
Holding company
Vision Statement
low-cost strategy
11. Identifies stakeholder expectations and power and helps in understanding political priorities.
Stakeholder mapping
Unrelated diversification
Cross-sector diversification
Strategic Groups
12. Is concerned with the ways in which an organization exeeds its minimum obligations to stakeholders specified through regulation.
internal benchmarking
Corporate social responsibility
Cost Leadership
Stakeholder mapping
13. It can be defined as principles of conduct within an organization that guide decision making and behavior.
Primary Research
Off shoring
Code of Ethics
Strategy Evaluation
14. Cut costs - add value - or increase prices
Organization Structure
Core Values
to increase profitability
The law making Process
15. Engaging in those activities that ensure effective operation - including leadership and motivation pf employee action towards goals. eg : Scheduling and conducting interview.
Directing
Marketing Mix
Core competences
Emergent Strategy
16. 1 Cost Benefit Analysis 2 Return On Investment 3 Breakeven Analysis 4 Financial Statement Analysis
mentality of MNC
differentiation
Financial Measures
External Benchmarks
17. 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
Five Forces
to obtain profit growth
Related diversification
types of competitive strategies for international businesses
18. 1. information systems 2. logistics 3. HR
support activities of a business
Business strategy
Long term Objectives
Business Case
19. 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
Strategic Information Systems
Growth
International Factors
Methodologies Of Operations
20. They are used to condense and summarize large quantities of data for quick understanding.
Descriptive Statistic
Cost Leadership
Merger and Acquisition Process
Ethics
21. Comparing operations in totally unrelated industries
generic benchmarking
Core Values
Secondary Research
Scope
22. 1 Balance Scorecard
Ethical Behavior
Performance Measures
types of competitive strategies for international businesses
Strategy Formulation
23. 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. )
Environmental Scanning
Market fit
Core competences
Descriptive Statistic
24. 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.
Porters Competitive Strategies
Outsourcing
Downscoping
Strategy Development
25. It uses data already gathered by others and reported in various sources.
Descriptive Statistic
Secondary Research
to increase profitability
Inferential Statistic
26. Information systems with a charter to achieve competitive superiority.
Stakeholder mapping
Strategic Information Systems
Generational Difference
Corporate social responsibility
27. 1 Capacity 2 Standards 3 Scheduling 4 Inventory 5 Control
Methodologies Of Operations
Primary Research
Systematic risk
Related diversification
28. 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?
Strategic Planning
generic benchmarking
primary activities of a business
Mid term Objectives
29. 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
Primary Research
Strategies at three levels
to maximize profits
Ethical Behavior
30. The decisions made and the direction provided for managing multiple business units under a single corporate umbrella.
Core Values
Purpose of benchmarks
Corporate strategy
Holding company
31. Is part of an organization for which there is a distinct external market for goods or services that is different from another SBU
Strategic business unit
skills businesses need to create competitive advantage
to increase profitability
Strategic Groups
32. 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.
Blue ocean Strategy
differentiation
Systematic risk
SWOT Analysis
33. 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
Strategy Formulation
to increase profitability
Junk bond
Merger and Acquisition Process
34. A strategy by which an organization takes increased share of its existing markets with its existing product range.
Cost Leadership
Market Penetrati
functional benchmarking
Diversification
35. A corporation that owns a large number of businesses that are different sizes and operate in different industry sectors.
Conglomerate
Management fit
Extended Organization
Strategic capability
36. These strategies attempt to set the product or service apart form its competition by giving it unique characteristic that customers value and for which they will be willing to pay a premium price.
Value Statement
Organizing
Differentiation
SPAC
37. 1 Attitudes towards career 2 Immigration 3 Occupational and industry skills 4 Recruitment 5 Unions 6 Unemployment 7 Turnover 8 Relocation
mentality of MNC
Employment Factors
Business Case
Inferential Statistic
38. 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
Decline
Methodologies Of Operations
Technological Factors
Factors that affect external environment
39. Combine both qualitative and quantitative measures - acknowledge the expectations of different stakeholders and relate an assessment of performance to choice of strategy.
Employment Factors
Leveraged buyout (LBO)
Extended Organization
Balanced scorecards
40. The resources and competences of an organization needed for it to survive and prosper.
Strategy Implementation
Five Forces
bottom-up
Strategic capability
41. 1 Preparation 2 Due Diligence 3 Planning integration of the business entities 4 Implementation - monitoring and measurement
bottom-up
SPAC
Cross-sector diversification
Merger and Acquisition Process
42. A value creating strategy that primary increases perceived value by increasing attractiveness of product
Value network
differentiation
functional benchmarking
internal benchmarking
43. 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
Organization Structure
Differentiation
Cultural web
Scenarios
44. 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
Introduction
Takeover
Business Life Cycle Phases
international strategy
45. 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.
Business Case
Business model
Mid term Objectives
Agency
46. 1 Introduction 2 Growth 3 Maturity 4 Decline
Vision Statement
generic benchmarking
Business Life Cycle Phases
Private equity firm
47. It involves data that is gathered firsthand for the specific evaluation being conduced.
Primary Research
Economic Factors
Extended Organization
Agency
48. Sell more in existing markets - or enter new markets
Resources leverage
Off shoring
Corporate strategy
to obtain profit growth
49. Acquisition of a company in a different industry - but which employs a similar value chain.
CLO
The law making Process
Cross-sector diversification
Economic Factors
50. Ability to broaden a product line or a customer base achieved through an acquisition.
Scope
Differentiation
Mid term Objectives
differentiation