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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. Value - Exploit - Rare - Imitate - Substitute






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






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






4. It uses data already gathered by others and reported in various sources.






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






6. 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.






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






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






9. 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






10. 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.






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






12. The organization relies on high energy and creativity. Attempts to develop products and services - decision may be made to use experiences staff so training is not an integral part of this phase. may meet or exceed the standard pay range to recruit






13. 1 Global Economy 2 Wage comparison 3 Trade Agreement 4 International Labor Law






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






15. A value creating strategy that primary increases perceived value by increasing attractiveness of product






16. 1 Traditional Generation 2 Baby Boom Generation 3 Generation X 4 Generation Y






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






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






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






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






21. 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"






22. 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






23. 1 Short term objective 2 Action plan to achieve these objective 3 Allocating resources 4 Motivating employees to manage the plan.






24. 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






25. New ideas should not be dismissed simply because they originated at a grassroots level. Business innovations developed under these circumstances will create new objectives or modify existing ones and create an overlay of new direction compared to wha






26. 1 Vision and mission 2 Value Statement






27. The decisions made and the direction provided for managing multiple business units under a single corporate umbrella.






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






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






30. 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)






31. 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






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






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






34. 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.






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






36. 1 Organizational Strategy 2 Business unit strategy 3 Functional Strategy






37. 1 Population 2 Sample 3 Normal Distribution






38. 1 Interest Rates 2 Gross Domestic Product (GDP) 3 Consumer Price Index (CPI) 4 Disposable Income 5 Inflation






39. 1 Cost Benefit Analysis 2 Return On Investment 3 Breakeven Analysis 4 Financial Statement Analysis






40. The types of decisions made and direction created for a single business






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






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






43. Cut costs - add value - or increase prices






44. 1. multinational 2. global 3. transnational






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






46. 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






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






48. Comparing a the firms operations with a direct competitor






49. These are the detailed steps a unit - department - or team will take in order to achieve the short term objectives.






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







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