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. Comparing similar functional firms in your industry






2. It is a system of moral principles and values that establish appropriate conduct.






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






4. 1 Demographic Factors 2 Economic Factors 3 Employment Factors 4 International Factors 5 Political Factors 6 Social Factors 7 Technological Factors






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






6. 1 Planning 2 Organizing 3 Directing 4 Controlling






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






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






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






10. 1 Strategy Formulation 2 Strategy Development 3 Strategy Implementation 4 Strategy Evaluation






11. 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?






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






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






14. 1 Vision and mission 2 Value Statement






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






16. 1 Organizational Strategy 2 Business unit strategy 3 Functional Strategy






17. 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.






18. 1. multinational 2. global 3. transnational






19. 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






20. 1 Work Specialization 2 Departmentalization 3 Chain of Command 4 Centralization and Decentralization 5 Formalization






21. Comparing a the firms operations with a direct competitor






22. Risk associated with a particular business.






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






24. 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.






25. 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






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






27. It involves data that is gathered firsthand for the specific evaluation being conduced.






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






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






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






31. Comparing 1 operation in the firm with another






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






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






34. Divestiture in which a corporation creates a new company out of one of its businesses. The new company has its own shares of stock and shareholders - and its own board of directors. Typically - shareholders of the corporation will receive newly iss






35. 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.






36. 1 SWOT analysis and environmental scanning 2 Long term objectives 3 Strategies to achieve these objectives are defined






37. 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.






38. 1 Short term objective 2 Action plan to achieve these objective 3 Allocating resources 4 Motivating employees to manage the plan.






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






40. 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






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






42. 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






43. 1 Preparation 2 Due Diligence 3 Planning integration of the business entities 4 Implementation - monitoring and measurement






44. 1 Age 2 Gender 3 Generational Difference 4 Geographic shifts in population 5 Ethnicity 6 Unskilled Labor 7 Non traditional labor force






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






46. 1 Attitudes towards career 2 Immigration 3 Occupational and industry skills 4 Recruitment 5 Unions 6 Unemployment 7 Turnover 8 Relocation






47. 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.






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






49. 1 Capacity 2 Standards 3 Scheduling 4 Inventory 5 Control






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