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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. 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.






3. 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.






4. Detailed and plausible views of how the business environment of an organization might develop in the future based on key drivers for change about which there is a high level of uncertainty






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






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






7. 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.






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






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






10. 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






11. It refers to relocation of processes or functions from a home country to another country and it appeals to organization for cost saving.






12. 1 Traditional Generation 2 Baby Boom Generation 3 Generation X 4 Generation Y






13. 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.






14. 1 Work Specialization 2 Departmentalization 3 Chain of Command 4 Centralization and Decentralization 5 Formalization






15. It is a systematic process of gathering and analyzing all relevant data about external opportunities (emerging marketplace - additional capabilities provided through new technology.) and threats (emerging competition - shifts in marketplaces. )






16. 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






17. 1 Financial 2 Human 3 Physical 4 Technological






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






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






20. Comparing 1 operation in the firm with another






21. The underlying principles that guide an organization's strategy






22. 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.






23. 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.






24. 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






25. Quality of information and interpretation of it






26. 1 Organizational Strategy 2 Business unit strategy 3 Functional Strategy






27. 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?






28. Information systems with a charter to achieve competitive superiority.






29. Risk associated with macro-economic forces.






30. 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






31. A process or function previously performed by an organization is transferred to a separate entity. The workers now performing this function are not employees of the organization but they are employees of entity to whom the work is given.






32. 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






33. 1 Capacity 2 Standards 3 Scheduling 4 Inventory 5 Control






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






35. 1 Strategy Formulation 2 Strategy Development 3 Strategy Implementation 4 Strategy Evaluation






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






37. 1 Introduction 2 Growth 3 Maturity 4 Decline






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






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






40. 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)






41. Cut costs - add value - or increase prices






42. 1. talking to competitors - customers - and distributors 2. testing competitors products 3. view competitors exhibits at trade shows






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






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






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






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






47. Specific - Measurable - Attainable - Realistic - Timely






48. Comparing similar functional firms in your industry






49. 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.






50. 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







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