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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. 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"
CLO
Planning
Resources leverage
Business strategy
2. A value creating strategy that creates more perceived value by primarily reducing costs
low-cost strategy
Technological Factors
skills businesses need to create competitive advantage
Directing
3. When a corporation is able to combine similar primary value chain activities.
Operational fit
Demographic Factors
Descriptive Statistic
Corporate social responsibility
4. 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)
Strategic business unit (SBU)
Strategy Evaluation
Parts of Business Case
Secondary Research
5. They represent milestones that must be achieved in order to reach the long term objectives. They are usually within 6 months to a year.
Business Case
SMART Goals
Management Functions
Short term Objectives
6. It involves data that is gathered firsthand for the specific evaluation being conduced.
primary activities of a business
Primary Research
Differentiation
functional benchmarking
7. The benefits that develop through the extension and application of corporate resources to a newly acquired company.
Core competences
Resources leverage
Off shoring
HR functions that can be outsourced
8. Is the means by which a strategy can be pursued.
Private equity firm
Blue ocean Strategy
Takeover
Strategic method
9. 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.
Organizing
to obtain profit growth
Strategies at three levels
Systematic risk
10. 1 Statement of the problem 2 Objectives 3 Description of potential solution 4 Project Time line 5 Project Metrics.
Unrelated diversification
skills businesses need to create competitive advantage
Parts of Business Case
efficiency frontier
11. 1 Cost Leadership 2 Differentiation 3 Focus
Inferential Statistic
CLO
Porters Competitive Strategies
Cost Leadership
12. The types of decisions made and direction created for a single business
Business strategy
Employment Factors
Extended Organization
Growth
13. 1 Planning 2 Organizing 3 Directing 4 Controlling
Strategic capability
Mid term Objectives
Management Functions
Value Statement
14. It is a system of moral principles and values that establish appropriate conduct.
Strategic capability
Porters Competitive Strategies
Ethics
generic benchmarking
15. 1 Population 2 Sample 3 Normal Distribution
Inferential Statistic
Factors that affect external environment
Value Statement
Employment Factors
16. Cost savings accomplished by operating combined companies more efficiently.
Strategic Planning Phase
Economizing
Planning
Strategic business unit (SBU)
17. 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.
Organization Structure
Outsourcing
Employment Factors
mentality of MNC
18. Where an individual (such as a corporate officer) acts on behalf of someone else (such as a shareholder)
Introduction
low-cost strategy
Corporate strategy
Agency
19. 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. )
Quantitative Analysis
Primary Research
Strategy Formulation
Environmental Scanning
20. Comparing operations in totally unrelated industries
generic benchmarking
Descriptive Statistic
Management Functions
Strategic method
21. A company in which 70-95% of revenue comes from a single business
Dominant business
Planning
Organizing
top-down
22. It is simple and effective process for collecting information on the organization's current state. It answers four basic question.
Strategic Groups
Parts of Business Case
Resources
SWOT Analysis
23. The resources and competences of an organization needed for it to survive and prosper.
Strategic capability
Unsystematic risk
Scenarios
Value network
24. 1. information systems 2. logistics 3. HR
Resources
Mid term Objectives
Scope
support activities of a business
25. 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
Operational fit
Cost Leadership
Strategies at three levels
Long term Objectives
26. 1 Balance Scorecard
Directing
Maturity
Performance Measures
Operational fit
27. The organization of a set of businesses that share identical or very similar strategies or strategic challenges.
Cross-sector diversification
Strategic business unit (SBU)
mentality of a MNC manager
Due Diligence
28. 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
Value chain
Takeover
value creating operations in the value chain of operation
29. 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.
Holding company
Corporate governance
Downscoping
Takeover
30. A value creating strategy that primary increases perceived value by increasing attractiveness of product
Management Functions
differentiation
Blue ocean Strategy
Diversification
31. These objectives are generally achieved within 3 to 5 years. Establishing these objectives provides direction - synergy and aids in establishing guidelines for evaluation.
CLO
types of competitive strategies for international businesses
Long term Objectives
low-cost strategy
32. 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.
The law making Process
Horizontal diversification
Outsourcing
Core competences
33. It describes what is important to an organization and often dictate employee behavior. They are the heart of the culture of an organization.
Strategic method
SPAC
Organizing
Value Statement
34. 1 Experiments 2 Pilot Projects 3 Surveys/questionnaires 4 Interviews (exit - panel - individual) 5 Focus group 6 Direct observation 7 Testing
Employment Factors
Primary Research
to obtain profit growth
types of competitive strategies for international businesses
35. When a corporation can take synergistic advantage of administrative and support activities of the value chain in making an acquisition.
Agency
Maturity
Management fit
Focus
36. 1. talking to competitors - customers - and distributors 2. testing competitors products 3. view competitors exhibits at trade shows
international strategy
to obtain profit growth
Maturity
common practices when analyzing your competition
37. Processes and activities used to formulate HR objectives - practices - and policies.
Action Plan
Vertical diversification
Strategic business management
Takeover
38. 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.
Strategic Planning
Strategy Development
Business Case
Methodologies Of Operations
39. A plant or service department is moved to another country. Although separated geographically - the off shored entity remains part of the organization - and workers are still employees of the organization.
Leveraged buyout (LBO)
Off shoring
Business model
Resources leverage
40. 1. R&D 2. production 3. marketing and sales 4. customer service
primary activities of a business
Focus
Junk bond
Introduction
41. The decisions made and the direction provided for managing multiple business units under a single corporate umbrella.
support activities of a business
Corporate strategy
value creating operations in the value chain of operation
low-cost strategy
42. The political - economic - social - technological - environmental - and legal dimensions of an organization's external environment.
Spin-off
Market Penetrati
Diversification
PESTEL
43. 1 Capacity 2 Standards 3 Scheduling 4 Inventory 5 Control
Methodologies Of Operations
Cross-sector diversification
To achieve competitive advantage and superior profitability
Employment Factors
44. 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.
generic benchmarking
Spin-off
Purpose of benchmarks
Internal Benchmarks
45. 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.
Value Statement
top-down
Emergent Strategy
Downscoping
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
Introduction
Junk bond
Maturity
Scenarios
47. 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
Strategic Information Systems
Five Forces
Core competences
STEEP
48. Engaging in those activities that ensure effective operation - including leadership and motivation pf employee action towards goals. eg : Scheduling and conducting interview.
Business Case
Quantitative Analysis
Directing
Scope
49. Private (nonpublic) corporations or partnerships that use their financial resources to engineer buyouts and acquisitions of other companies.
Scenarios
Parts of Business Case
Value Statement
Private equity firm
50. Business remain separate entities but may appear to outsiders as one entity. Commonly formed through the use of outsourcing.
Strategic Planning Phase
Extended Organization
Cultural web
Off shoring