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 the process that involves a systematic survey and interruption of relevant data to identify external opportunities and threats and to assess how these factors affect the organization currently and how they are likely to affect the organization






2. A strategy by which an organisation offers existing products to new markets.






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






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






5. 1 Cost Benefit Analysis 2 Return On Investment 3 Breakeven Analysis 4 Financial Statement Analysis






6. 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






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






8. 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






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






10. When a corporation can take synergistic advantage of relationships with suppliers and/or customers in making an acquisition.






11. These objectives are generally achieved within 3 to 5 years. Establishing these objectives provides direction - synergy and aids in establishing guidelines for evaluation.






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






13. 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.






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






15. 1 Introduction 2 Growth 3 Maturity 4 Decline






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






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






18. 1 Work Specialization 2 Departmentalization 3 Chain of Command 4 Centralization and Decentralization 5 Formalization






19. Comparing 1 operation in the firm with another






20. 1 Capacity 2 Standards 3 Scheduling 4 Inventory 5 Control






21. 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.






22. 1 Organizational Strategy 2 Business unit strategy 3 Functional Strategy






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






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






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






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






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






28. Specific - Measurable - Attainable - Realistic - Timely






29. 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






30. 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.






31. Not necessarily considered HR core function like benefits plan administration - payroll administration - and background checks - etc.






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






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






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






35. 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"






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






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






38. 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.






39. 1 Age 2 Gender 3 Generational Difference 4 Geographic shifts in population 5 Ethnicity 6 Unskilled Labor 7 Non traditional labor force






40. They are often based on industry best practice.






41. 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






42. A participative approach to planning in which there is involvement at all levels; plans are developed at the lower levels of an organisation and funnelled up through consecutive levels until they reach top management - advantage:People are responsibl






43. Cut costs - add value - or increase prices






44. 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






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






46. Value - Exploit - Rare - Imitate - Substitute






47. primary activities and support activities






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






49. 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






50. 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.