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Test your basic knowledge |
Business Strategy
Start Test
Study First
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. 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.
Ethical Behavior
top-down
Stakeholders
Focus
2. 1 Financial 2 Human 3 Physical 4 Technological
Strategy Implementation
Resources
Long term Objectives
Off shoring
3. A value creating strategy that primary increases perceived value by increasing attractiveness of product
Diversification
Porters Competitive Strategies
Core Values
differentiation
4. 1 Global Economy 2 Wage comparison 3 Trade Agreement 4 International Labor Law
Market fit
International Factors
Inferential Statistic
Strategic business unit
5. Sell more in existing markets - or enter new markets
Downscoping
Primary Research
Systematic risk
to obtain profit growth
6. 1 Traditional Generation 2 Baby Boom Generation 3 Generation X 4 Generation Y
low-cost strategy
Blue ocean Strategy
Generational Difference
Purpose of benchmarks
7. When a corporation is able to combine similar primary value chain activities.
Maturity
mentality of MNC
Operational fit
Market fit
8. 1. R&D 2. production 3. marketing and sales 4. customer service
Strategic Groups
primary activities of a business
Critical success factors
Internal Benchmarks
9. primary activities and support activities
Parts of Business Case
Holding company
Scope
value creating operations in the value chain of operation
10. It can be defined as principles of conduct within an organization that guide decision making and behavior.
Due Diligence
SWOT Analysis
Code of Ethics
common practices when analyzing your competition
11. 1. information systems 2. logistics 3. HR
support activities of a business
STEEP
Ethical Behavior
Descriptive Statistic
12. Acquisition of another company upstream (supplier) or downstream (buyer) in the value chain of the same industry in which the corporation operates.
Corporate governance
Vertical diversification
Mid term Objectives
Business Case
13. Studying the future and arranging the means for dealing with it - which encompass forecasting - selling goals - and determining actions. eg: Forecasting future staffing needs.
Planning
Strategic business unit
support activities of a business
Blue ocean Strategy
14. 1 Organizational Strategy 2 Business unit strategy 3 Functional Strategy
low-cost strategy
Short term Objectives
Decline
Strategies at three levels
15. Is the means by which a strategy can be pursued.
key to success in strategic planning
Strategic method
Strategy Formulation
Strategic business unit
16. Refers to an intensive investigation of all factors surrounding a business decision to ensure that all risks are understood.
Due Diligence
Business Case
top-down
mentality of MNC
17. Independent & entrepreneurial - adopts a more flexible approach to their international operations - More sensitive & responsive to local environment
Market development
common practices when analyzing your competition
mentality of a MNC manager
Strategy Evaluation
18. 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
mentality of MNC
Purpose of benchmarks
Private equity firm
Resources leverage
19. Economic - legal resp. - ethical - and discretionary
Emergent Strategy
Strategy Development
Employment Factors
type of responsibilities of a business
20. 1 Statement of the problem 2 Objectives 3 Description of potential solution 4 Project Time line 5 Project Metrics.
Parts of Business Case
Economizing
Ethics
support activities of a business
21. Is concerned with the ways in which an organization exeeds its minimum obligations to stakeholders specified through regulation.
Inferential Statistic
internal benchmarking
Corporate social responsibility
Value network
22. 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
Business Life Cycle Phases
Business Case
SMART Goals
Extended Organization
23. The skills and abilities by which resources are deployed through an organization's activities and processes such as to achieve competitive advantage in ways that others cannot imitate or obtain.
Leveraged buyout (LBO)
Core competences
mentality of MNC
Factors that affect external environment
24. 1. multinational 2. global 3. transnational
Off shoring
types of competitive strategies for international businesses
Conglomerate
type of responsibilities of a business
25. 1 Population 2 Sample 3 Normal Distribution
Strategy Implementation
Introduction
Strategic business unit
Inferential Statistic
26. The decisions made and the direction provided for managing multiple business units under a single corporate umbrella.
Corporate strategy
to increase profitability
Off shoring
Corporate governance
27. 1 Demographic Factors 2 Economic Factors 3 Employment Factors 4 International Factors 5 Political Factors 6 Social Factors 7 Technological Factors
Critical success factors
Factors that affect external environment
Extended Organization
to obtain profit growth
28. These objectives are generally achieved within 3 to 5 years. Establishing these objectives provides direction - synergy and aids in establishing guidelines for evaluation.
Long term Objectives
Vertical diversification
STEEP
Operations
29. Ensure that organization's strategy and operations are consistent with each other
Core Values
To achieve competitive advantage and superior profitability
differentiation
Operations
30. 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
Strategic Information Systems
Growth
Strategic Groups
Vertical diversification
31. 1 Cost Benefit Analysis 2 Return On Investment 3 Breakeven Analysis 4 Financial Statement Analysis
Financial Measures
Parts of Business Case
skills businesses need to create competitive advantage
Related diversification
32. Those product features with which a organization must outperform the competition because they are particularly valued by a group of customers.
Off shoring
SWOT Analysis
Factors that affect external environment
Critical success factors
33. Shows the behavioral - physical and symbolic manifestations of a culture that inform and are informed by the taken-for-granted assumptions - or paradigm - of an organisation
Downscoping
Primary Research
Market Penetrati
Cultural web
34. The choices made through the 4 Ps : Product - Price - Place and Promotion are what makes a product or service unique. This is distinctive blend of marketing decision.
benefits of competitor intelligence
Marketing Mix
Strategy Formulation
Demographic Factors
35. Describes the structure of product - service - and information flows and the role of participating parties.
Business model
Related diversification
international strategy
Economic Factors
36. These are the detailed steps a unit - department - or team will take in order to achieve the short term objectives.
Growth
Focus
Action Plan
PESTEL
37. Not necessarily considered HR core function like benefits plan administration - payroll administration - and background checks - etc.
top-down
HR functions that can be outsourced
Business Life Cycle Phases
Strategic method
38. 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
Differentiation
Inferential Statistic
Strategic capability
top-down
39. Processes and activities used to formulate HR objectives - practices - and policies.
Descriptive Statistic
Holding company
Business Case
Strategic business management
40. The central focus of the department is the provision of goods and services to the customer. Basically this department must ensure that the product/service is produced and delivered to the customer.
Cross-sector diversification
Business Case
Maturity
Operations
41. 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
to maximize profits
Holding company
Emergent Strategy
Agency
42. A process where a company is bought primarily using debt. Typically engineered by management of the company - or by private equity firms.
Leveraged buyout (LBO)
Strategic method
Operations
Business strategy
43. 1 Short term objective 2 Action plan to achieve these objective 3 Allocating resources 4 Motivating employees to manage the plan.
type of responsibilities of a business
Off shoring
to increase profitability
Strategy Implementation
44. Identifies stakeholder expectations and power and helps in understanding political priorities.
Private equity firm
Stakeholder mapping
functional benchmarking
Maturity
45. Engaging in those activities that ensure effective operation - including leadership and motivation pf employee action towards goals. eg : Scheduling and conducting interview.
Value network
Value Statement
efficiency frontier
Directing
46. 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.
generic benchmarking
Maturity
Unrelated diversification
SPAC
47. Individuals or groups who depend on an organization to fulfill their own goals and on whom - in turn the organization depends.
Strategic Groups
Scope
Stakeholders
Business Case
48. The resources and competences of an organization needed for it to survive and prosper.
Directing
Strategic capability
Strategies at three levels
Core Values
49. 1 Advances in technology 2 Technological skills 3 The digital divide 4 Process changes
Operational fit
Technological Factors
Downscoping
value creating operations in the value chain of operation
50. 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
Business Life Cycle Phases
Organizing
Value network
Environmental scanning