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. 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.






2. 1 Financial 2 Human 3 Physical 4 Technological






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






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






5. Sell more in existing markets - or enter new markets






6. 1 Traditional Generation 2 Baby Boom Generation 3 Generation X 4 Generation Y






7. When a corporation is able to combine similar primary value chain activities.






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






9. primary activities and support activities






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






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






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






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.






14. 1 Organizational Strategy 2 Business unit strategy 3 Functional Strategy






15. Is the means by which a strategy can be pursued.






16. Refers to an intensive investigation of all factors surrounding a business decision to ensure that all risks are understood.






17. Independent & entrepreneurial - adopts a more flexible approach to their international operations - More sensitive & responsive to local environment






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






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






20. 1 Statement of the problem 2 Objectives 3 Description of potential solution 4 Project Time line 5 Project Metrics.






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






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






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.






24. 1. multinational 2. global 3. transnational






25. 1 Population 2 Sample 3 Normal Distribution






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






27. 1 Demographic Factors 2 Economic Factors 3 Employment Factors 4 International Factors 5 Political Factors 6 Social Factors 7 Technological Factors






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






29. Ensure that organization's strategy and operations are consistent with each other






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






31. 1 Cost Benefit Analysis 2 Return On Investment 3 Breakeven Analysis 4 Financial Statement Analysis






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






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. 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.






35. Describes the structure of product - service - and information flows and the role of participating parties.






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






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






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






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






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.






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






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






43. 1 Short term objective 2 Action plan to achieve these objective 3 Allocating resources 4 Motivating employees to manage the plan.






44. Identifies stakeholder expectations and power and helps in understanding political priorities.






45. Engaging in those activities that ensure effective operation - including leadership and motivation pf employee action towards goals. eg : Scheduling and conducting interview.






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.






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






48. The resources and competences of an organization needed for it to survive and prosper.






49. 1 Advances in technology 2 Technological skills 3 The digital divide 4 Process changes






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