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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. 1 Short term objective 2 Action plan to achieve these objective 3 Allocating resources 4 Motivating employees to manage the plan.






2. Engaging in those activities that ensure effective operation - including leadership and motivation pf employee action towards goals. eg : Scheduling and conducting interview.






3. These are the detailed steps a unit - department - or team will take in order to achieve the short term objectives.






4. It is simple and effective process for collecting information on the organization's current state. It answers four basic question.






5. Those product features with which a organization must outperform the competition because they are particularly valued by a group of customers.






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






7. Studying the future and arranging the means for dealing with it - which encompass forecasting - selling goals - and determining actions. eg: Forecasting future staffing needs.






8. It is a system of moral principles and values that establish appropriate conduct.






9. 1. information systems 2. logistics 3. HR






10. A corporation that owns a large number of businesses that are different sizes and operate in different industry sectors.






11. 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






12. 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.






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






14. Ensure that organization's strategy and operations are consistent with each other






15. 1 Age 2 Gender 3 Generational Difference 4 Geographic shifts in population 5 Ethnicity 6 Unskilled Labor 7 Non traditional labor force






16. 1 Experiments 2 Pilot Projects 3 Surveys/questionnaires 4 Interviews (exit - panel - individual) 5 Focus group 6 Direct observation 7 Testing






17. 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






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






19. Cost savings accomplished by operating combined companies more efficiently.






20. 1 The rule is proposed 2 Public comment is invited 3 The final rule is issued






21. 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.






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






24. 1 Charts and graphs 2 Measures of central tendency 3 Measures of variation 4 Measures of association






25. 1. talking to competitors - customers - and distributors 2. testing competitors products 3. view competitors exhibits at trade shows






26. Quality of information and interpretation of it






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






28. 1 SWOT analysis and environmental scanning 2 Long term objectives 3 Strategies to achieve these objectives are defined






29. Risk associated with a particular business.






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






31. 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.






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






33. 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






34. 1 Cost Leadership 2 Differentiation 3 Focus






35. 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.






36. 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.






37. Identifies stakeholder expectations and power and helps in understanding political priorities.






38. primary activities and support activities






39. Where an individual (such as a corporate officer) acts on behalf of someone else (such as a shareholder)






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. 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"






42. Is concerned with the structures and systems of control by which managers are held accountable to those who have a legitimate stake an organization.






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






44. Ensuring that everything is carried out according to the plan. Eg: Measuring recruiting efforts and effectiveness.






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






46. Specific - Measurable - Attainable - Realistic - Timely






47. It refers to relocation of processes or functions from a home country to another country and it appeals to organization for cost saving.






48. 1. improve bidding success 2. identify competitors key customers 3. identify expansion plans 4. improve understanding of competitors






49. 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.






50. 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?







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Can you answer 50 questions in 15 minutes?


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