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Business Strategy
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Study First
Subject
:
business-skills
Instructions:
Answer 50 questions in 15 minutes.
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study here
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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. Risk associated with a particular business.
Performance Measures
Holding company
Unsystematic risk
Business Case
2. 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
Primary Research
primary activities of a business
functional benchmarking
3. Not necessarily considered HR core function like benefits plan administration - payroll administration - and background checks - etc.
Conglomerate
HR functions that can be outsourced
Due Diligence
Strategic Groups
4. Combine both qualitative and quantitative measures - acknowledge the expectations of different stakeholders and relate an assessment of performance to choice of strategy.
Balanced scorecards
Secondary Research
External Benchmarks
Strategic business unit (SBU)
5. 1. a graph demonstrating the different positions a firm can adopt in creating value 2. compares value and differentiation (Y) versus high cost to low cost (x)
generic benchmarking
efficiency frontier
Descriptive Statistic
Strategic business management
6. A corporation that owns a large number of businesses that are different sizes and operate in different industry sectors.
PESTEL
Off shoring
SMART Goals
Conglomerate
7. Comparing 1 operation in the firm with another
Off shoring
Stakeholders
Conglomerate
internal benchmarking
8. 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
Operational fit
Value network
CLO
Junk bond
9. Internal Benchmarks establish levels of current performance of a particular tasks - such as cost per hire.
Secondary Research
Internal Benchmarks
Business model
differentiation
10. Private (nonpublic) corporations or partnerships that use their financial resources to engineer buyouts and acquisitions of other companies.
Private equity firm
Strategic business unit
Code of Ethics
Ethics
11. A company in which 70-95% of revenue comes from a single business
Business model
international strategy
Demographic Factors
Dominant business
12. It is a vivid - guiding image of the organization's desired future. It is the ultimate picture of what leadership envisions for the organization.
Cost Leadership
Dominant business
Technological Factors
Vision Statement
13. These objectives are generally achieved within 3 to 5 years. Establishing these objectives provides direction - synergy and aids in establishing guidelines for evaluation.
Dominant business
Financial Measures
Long term Objectives
functional benchmarking
14. The decisions made and the direction provided for managing multiple business units under a single corporate umbrella.
Corporate strategy
international strategy
Porters Competitive Strategies
Dominant business
15. Is the set of internationalization links and relationships that are necessary to create a product or service.
Value network
Business Life Cycle Phases
The law making Process
Vision Statement
16. 1 Strategy Formulation 2 Strategy Development 3 Strategy Implementation 4 Strategy Evaluation
Agency
Strategic Planning Phase
Business model
Balanced scorecards
17. Business remain separate entities but may appear to outsiders as one entity. Commonly formed through the use of outsourcing.
Demographic Factors
to obtain profit growth
Strategic capability
Extended Organization
18. 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
Cultural web
International Factors
mentality of a MNC manager
Primary Research
19. Identifies stakeholder expectations and power and helps in understanding political priorities.
Descriptive Statistic
Directing
Stakeholder mapping
Blue ocean Strategy
20. It refers to relocation of processes or functions from a home country to another country and it appeals to organization for cost saving.
Employment Factors
key to success in strategic planning
Off shoring
Growth
21. 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. )
Spin-off
Environmental Scanning
Corporate social responsibility
Emergent Strategy
22. Comparing operations in totally unrelated industries
Cultural web
generic benchmarking
Planning
Focus
23. A strategy by which an organization peruses new product offerings and new markets.
Management Functions
Market fit
Corporate governance
Diversification
24. 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.
Unrelated diversification
Resources leverage
to maximize profits
Introduction
25. 1 Demographic Factors 2 Economic Factors 3 Employment Factors 4 International Factors 5 Political Factors 6 Social Factors 7 Technological Factors
Vertical diversification
Leveraged buyout (LBO)
value creating operations in the value chain of operation
Factors that affect external environment
26. 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
Private equity firm
Strategic Groups
primary activities of a business
to maximize profits
27. 1 Preparation 2 Due Diligence 3 Planning integration of the business entities 4 Implementation - monitoring and measurement
SMART Goals
low-cost strategy
Merger and Acquisition Process
Economizing
28. The categories of activities within and around an organization which together create a product or service.
key to success in strategic planning
Balanced scorecards
Long term Objectives
Value chain
29. 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
Resources leverage
Management Functions
Cultural web
top-down
30. Is concerned with the ways in which an organization exeeds its minimum obligations to stakeholders specified through regulation.
Corporate social responsibility
Takeover
To achieve competitive advantage and superior profitability
to obtain profit growth
31. They are often based on industry best practice.
External Benchmarks
Secondary Research
to increase profitability
Off shoring
32. 1 Attitudes towards career 2 Immigration 3 Occupational and industry skills 4 Recruitment 5 Unions 6 Unemployment 7 Turnover 8 Relocation
Strategic business management
external benchmarking
Employment Factors
Purpose of benchmarks
33. It is simple and effective process for collecting information on the organization's current state. It answers four basic question.
external benchmarking
Private equity firm
Related diversification
SWOT Analysis
34. Cut costs - add value - or increase prices
to increase profitability
Economic Factors
Market development
Market fit
35. Risk associated with macro-economic forces.
Systematic risk
Market Penetrati
Market development
Purpose of benchmarks
36. 1 Cost Benefit Analysis 2 Return On Investment 3 Breakeven Analysis 4 Financial Statement Analysis
efficiency frontier
Financial Measures
Decline
Strategic Planning Phase
37. Those product features with which a organization must outperform the competition because they are particularly valued by a group of customers.
Strategic Groups
Critical success factors
Junk bond
Technological Factors
38. 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
Porters Competitive Strategies
Cost Leadership
Ethics
Scope
39. Economic - legal resp. - ethical - and discretionary
Core Values
Operational fit
Critical success factors
type of responsibilities of a business
40. Value - Exploit - Rare - Imitate - Substitute
skills businesses need to create competitive advantage
Short term Objectives
Critical success factors
Stakeholder mapping
41. It describes what is important to an organization and often dictate employee behavior. They are the heart of the culture of an organization.
internal benchmarking
to obtain profit growth
Value Statement
Operational fit
42. Acquisition of a company in a different industry - but which employs a similar value chain.
Strategic Groups
Cross-sector diversification
Corporate governance
Management Functions
43. Is concerned with the structures and systems of control by which managers are held accountable to those who have a legitimate stake an organization.
benefits of competitor intelligence
Systematic risk
type of responsibilities of a business
Corporate governance
44. Where an individual (such as a corporate officer) acts on behalf of someone else (such as a shareholder)
Agency
Differentiation
functional benchmarking
Strategic capability
45. Describes the structure of product - service - and information flows and the role of participating parties.
Ethics
Business model
efficiency frontier
PESTEL
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
Merger and Acquisition Process
Introduction
SMART Goals
Extended Organization
47. 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.
PESTEL
top-down
Outsourcing
Agency
48. Is the means by which a strategy can be pursued.
HR functions that can be outsourced
Internal Benchmarks
Mission Statement
Strategic method
49. 1 SWOT analysis and environmental scanning 2 Long term objectives 3 Strategies to achieve these objectives are defined
Strategy Development
Strategic Groups
low-cost strategy
Business Case
50. Ensure that organization's strategy and operations are consistent with each other
Strategic business unit (SBU)
Strategy Implementation
To achieve competitive advantage and superior profitability
Long term Objectives
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