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 a vivid - guiding image of the organization's desired future. It is the ultimate picture of what leadership envisions for the organization.






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






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






4. 1 Strategy Formulation 2 Strategy Development 3 Strategy Implementation 4 Strategy Evaluation






5. 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






6. 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.






7. A merger or acquisition where there is some similarity of industry and/or value chain between the corporation and the company it seeks to acquire.






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






9. Risk associated with macro-economic forces.






10. Comparing similar functional firms in your industry






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






12. 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"






13. 1 The rule is proposed 2 Public comment is invited 3 The final rule is issued






14. They are often based on industry best practice.






15. Value - Exploit - Rare - Imitate - Substitute






16. Risk associated with a particular business.






17. 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






18. 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






19. It describes a project in detail and shows how it will contribute value to the organization and provides sufficient information about how the project will be designed - implemented - and measured to enable the organization's leaders to make informe






20. 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






21. 1 Population 2 Sample 3 Normal Distribution






22. These strategy requires that organizations focus on a particular buyer group - segment of the product line or geographical market within an industry. It is build around serving particular target to the exclusion of others.






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






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






25. Comparing operations in totally unrelated industries






26. 1 Advances in technology 2 Technological skills 3 The digital divide 4 Process changes






27. 1 Cost Benefit Analysis 2 Return On Investment 3 Breakeven Analysis 4 Financial Statement Analysis






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






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






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






31. primary activities and support activities






32. 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?






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






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






35. 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.






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






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






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






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






40. Organization become entrenched in rules and policies and leadership become resistant to change. series of efforts to turn the tide such as product enhancement or cost reduction programs. If unsuccessful in these then will focus on reducing workforce






41. 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.






42. 1 Interest Rates 2 Gross Domestic Product (GDP) 3 Consumer Price Index (CPI) 4 Disposable Income 5 Inflation






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






44. The political - economic - social - technological - environmental - and legal dimensions of an organization's external environment.






45. 1 Age 2 Gender 3 Generational Difference 4 Geographic shifts in population 5 Ethnicity 6 Unskilled Labor 7 Non traditional labor force






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






47. 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)






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






49. They represent milestones that must be achieved in order to reach the long term objectives. They are usually within 6 months to a year.






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