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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. 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.






2. Ensuring that everything is carried out according to the plan. Eg: Measuring recruiting efforts and effectiveness.






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






4. They are often based on industry best practice.






5. 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






6. 1 Cost Leadership 2 Differentiation 3 Focus






7. 1 Cost Benefit Analysis 2 Return On Investment 3 Breakeven Analysis 4 Financial Statement Analysis






8. Value - Exploit - Rare - Imitate - Substitute






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






10. Organizations within an industry with similar strategic characteristics - following similar strategies or competing on similar bases






11. Is concerned with the ways in which an organization exeeds its minimum obligations to stakeholders specified through regulation.






12. 1 Short term objective 2 Action plan to achieve these objective 3 Allocating resources 4 Motivating employees to manage the plan.






13. Special Purpose Acquisition Company. Empty-shell firms that promise to buy businesses with the proceeds of their initial public stock offerings.






14. 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.






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






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 Planning 2 Organizing 3 Directing 4 Controlling






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






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






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






21. 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.






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






23. Internal Benchmarks establish levels of current performance of a particular tasks - such as cost per hire.






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






25. 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






26. 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






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






28. 1 Work Specialization 2 Departmentalization 3 Chain of Command 4 Centralization and Decentralization 5 Formalization






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






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






31. When a corporation reduces its level of diversification and strategically refocuses on core businesses where the synergies of scope - economizing - and leverage are more evident and more easily realized.






32. Acquisition of another company upstream (supplier) or downstream (buyer) in the value chain of the same industry in which the corporation operates.






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






34. 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.






35. 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.






36. 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.






37. 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






38. 1 Financial 2 Human 3 Physical 4 Technological






39. 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






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






41. 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






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






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






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






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






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






47. 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.






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






49. 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






50. 1 Introduction 2 Growth 3 Maturity 4 Decline







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