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. The categories of activities within and around an organization which together create a product or service.






2. 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






3. It can be defined as principles of conduct within an organization that guide decision making and behavior.






4. Processes and activities used to formulate HR objectives - practices - and policies.






5. 1 Strategies are reviewed 2 Performance towards objective is measured 3 Corrective action is taken






6. The organization of a set of businesses that share identical or very similar strategies or strategic challenges.






7. 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.






8. 1 Global Economy 2 Wage comparison 3 Trade Agreement 4 International Labor Law






9. Specific - Measurable - Attainable - Realistic - Timely






10. Acquisition of a company in a different industry - but which employs a similar value chain.






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






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






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






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






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






16. 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)






17. 1 The rule is proposed 2 Public comment is invited 3 The final rule is issued






18. Combine both qualitative and quantitative measures - acknowledge the expectations of different stakeholders and relate an assessment of performance to choice of strategy.






19. 1 Cost Leadership 2 Differentiation 3 Focus






20. 1 Short term objective 2 Action plan to achieve these objective 3 Allocating resources 4 Motivating employees to manage the plan.






21. 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






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






23. 1. multinational 2. global 3. transnational






24. Business remain separate entities but may appear to outsiders as one entity. Commonly formed through the use of outsourcing.






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






26. 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.






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






28. 1 Advances in technology 2 Technological skills 3 The digital divide 4 Process changes






29. Describes the structure of product - service - and information flows and the role of participating parties.






30. Risk associated with macro-economic forces.






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






32. Quality of information and interpretation of it






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






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






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






36. 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






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






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






39. Private (nonpublic) corporations or partnerships that use their financial resources to engineer buyouts and acquisitions of other companies.






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






41. 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






42. 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






43. Cut costs - add value - or increase prices






44. 1 Attitudes towards career 2 Immigration 3 Occupational and industry skills 4 Recruitment 5 Unions 6 Unemployment 7 Turnover 8 Relocation






45. 1 Planning 2 Organizing 3 Directing 4 Controlling






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






47. They are used to condense and summarize large quantities of data for quick understanding.






48. A company in which 70-95% of revenue comes from a single business






49. Is the set of internationalization links and relationships that are necessary to create a product or service.






50. 1 Organizational Strategy 2 Business unit strategy 3 Functional Strategy