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






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






3. 1 The rule is proposed 2 Public comment is invited 3 The final rule is issued






4. 1 Introduction 2 Growth 3 Maturity 4 Decline






5. Risk associated with a particular business.






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






7. 1 Charts and graphs 2 Measures of central tendency 3 Measures of variation 4 Measures of association






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






9. A process or function previously performed by an organization is transferred to a separate entity. The workers now performing this function are not employees of the organization but they are employees of entity to whom the work is given.






10. 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"






11. 1 Strategy Formulation 2 Strategy Development 3 Strategy Implementation 4 Strategy Evaluation






12. Studying the future and arranging the means for dealing with it - which encompass forecasting - selling goals - and determining actions. eg: Forecasting future staffing needs.






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






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






15. It is a systematic process of gathering and analyzing all relevant data about external opportunities (emerging marketplace - additional capabilities provided through new technology.) and threats (emerging competition - shifts in marketplaces. )






16. 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






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






18. 1 Interest Rates 2 Gross Domestic Product (GDP) 3 Consumer Price Index (CPI) 4 Disposable Income 5 Inflation






19. A plant or service department is moved to another country. Although separated geographically - the off shored entity remains part of the organization - and workers are still employees of the organization.






20. 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.






21. 1 Cost Leadership 2 Differentiation 3 Focus






22. 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






23. 1 Vision and mission 2 Value Statement






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






25. Scheduling problems are largely resolved - and staffing and organizational culture begin to stabilize. Policies - procedures and rules are formalized and communicated to all employees. Training gains added emphasis in this phase to maintain flexibi






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






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






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






29. 1 Financial 2 Human 3 Physical 4 Technological






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






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






32. Comparing operations in totally unrelated industries






33. 1. improve bidding success 2. identify competitors key customers 3. identify expansion plans 4. improve understanding of competitors






34. 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.






35. Quality of information and interpretation of it






36. 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






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






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






39. 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.






40. 1 Age 2 Gender 3 Generational Difference 4 Geographic shifts in population 5 Ethnicity 6 Unskilled Labor 7 Non traditional labor force






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






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






43. Comparing similar functional firms in your industry






44. 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






45. 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.






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






47. It specifies what activities the organization intends to pursue and what course of management has charted for the future. It provides general outline of how the organization will achieve the vision. It includes who the company is - what the company






48. 1 Balance Scorecard






49. Business remain separate entities but may appear to outsiders as one entity. Commonly formed through the use of outsourcing.






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