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






2. Comparing a the firms operations with a direct competitor






3. It involves data that is gathered firsthand for the specific evaluation being conduced.






4. A strategy by which an organization takes increased share of its existing markets with its existing product range.






5. Risk associated with a particular business.






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






7. Scheduling problems are largely resolved - and staffing and organizational culture begin to stabilize. Policies - procedures and rules are formalized and communicated to all employees. Training gains added emphasis in this phase to maintain flexibi






8. Corporation that owns the majority of voting shares of other companies - but that allows the other companies to operate as independent entities.






9. Comparing 1 operation in the firm with another






10. 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






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






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






13. 1 Global Economy 2 Wage comparison 3 Trade Agreement 4 International Labor Law






14. A process where a company is bought primarily using debt. Typically engineered by management of the company - or by private equity firms.






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






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






17. 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.






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






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






20. Acquisition of a company that operates in the same industry using the same value chain.






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






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






23. 1 Attitudes towards career 2 Immigration 3 Occupational and industry skills 4 Recruitment 5 Unions 6 Unemployment 7 Turnover 8 Relocation






24. 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.






25. 1. multinational 2. global 3. transnational






26. 1 Population 2 Sample 3 Normal Distribution






27. It describes what is important to an organization and often dictate employee behavior. They are the heart of the culture of an organization.






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






29. 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






30. 1 Statement of the problem 2 Objectives 3 Description of potential solution 4 Project Time line 5 Project Metrics.






31. Quality of information and interpretation of it






32. It uses data already gathered by others and reported in various sources.






33. 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






34. Adhering to set of governing principles whether the philosophy is one of fairness - individual rights - avoiding conflicts of interest or another philosophical grounding.






35. 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.






36. The resources and competences of an organization needed for it to survive and prosper.






37. 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






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






39. Refers to an intensive investigation of all factors surrounding a business decision to ensure that all risks are understood.






40. 1 Introduction 2 Growth 3 Maturity 4 Decline






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






42. It is based on numeric data that is analyzed with statistic method. 1 Descriptive Statistic 2 Inferential Statistic






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






44. Independent & entrepreneurial - adopts a more flexible approach to their international operations - More sensitive & responsive to local environment






45. It specifies what activities the organization intends to pursue and what course of management has charted for the future. It provides general outline of how the organization will achieve the vision. It includes who the company is - what the company






46. 1 Planning 2 Organizing 3 Directing 4 Controlling






47. 1 Preparation 2 Due Diligence 3 Planning integration of the business entities 4 Implementation - monitoring and measurement






48. 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.






49. A strategy by which an organization peruses new product offerings and new markets.






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