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






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






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






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






5. 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.






6. 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?






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






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






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






10. 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.






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






12. Serve the purpose similar to short term objectives but are completed in 1 to 3 years.






13. 1 Traditional Generation 2 Baby Boom Generation 3 Generation X 4 Generation Y






14. 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.






15. 1 Strategy Formulation 2 Strategy Development 3 Strategy Implementation 4 Strategy Evaluation






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






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






18. 1 Cost Benefit Analysis 2 Return On Investment 3 Breakeven Analysis 4 Financial Statement Analysis






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






20. 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






21. 1. multinational 2. global 3. transnational






22. 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.






23. 1 Age 2 Gender 3 Generational Difference 4 Geographic shifts in population 5 Ethnicity 6 Unskilled Labor 7 Non traditional labor force






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






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






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






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






28. Quality of information and interpretation of it






29. 1 Introduction 2 Growth 3 Maturity 4 Decline






30. 1 Demographic Factors 2 Economic Factors 3 Employment Factors 4 International Factors 5 Political Factors 6 Social Factors 7 Technological Factors






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






32. Value - Exploit - Rare - Imitate - Substitute






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






34. It is a vivid - guiding image of the organization's desired future. It is the ultimate picture of what leadership envisions for the organization.






35. 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






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






37. 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






38. primary activities and support activities






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






40. Specific - Measurable - Attainable - Realistic - Timely






41. 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.






42. Is concerned with the structures and systems of control by which managers are held accountable to those who have a legitimate stake an organization.






43. 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.






44. 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.






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






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






47. 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






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






49. 1 Balance Scorecard






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