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






2. 1 Planning 2 Organizing 3 Directing 4 Controlling






3. Comparing 1 operation in the firm with another






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






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






6. 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






7. 1 Strategies are reviewed 2 Performance towards objective is measured 3 Corrective action is taken






8. 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






9. 1 Cost Leadership 2 Differentiation 3 Focus






10. 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






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






12. 1 Strategy Formulation 2 Strategy Development 3 Strategy Implementation 4 Strategy Evaluation






13. A participative approach to planning in which there is involvement at all levels; plans are developed at the lower levels of an organisation and funnelled up through consecutive levels until they reach top management - advantage:People are responsibl






14. 1 Demographic Factors 2 Economic Factors 3 Employment Factors 4 International Factors 5 Political Factors 6 Social Factors 7 Technological Factors






15. Risk associated with macro-economic forces.






16. Information systems with a charter to achieve competitive superiority.






17. 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)






18. 1 Balance Scorecard






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






20. 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?






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






22. 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.






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






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






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






26. 1 Advances in technology 2 Technological skills 3 The digital divide 4 Process changes






27. Value - Exploit - Rare - Imitate - Substitute






28. 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






29. 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.






30. 1 Population 2 Sample 3 Normal Distribution






31. 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.






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






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






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






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






36. 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.






37. Cost savings accomplished by operating combined companies more efficiently.






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






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






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






41. 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. )






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






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






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






45. Acquisition of a company that operates in the same industry using the same value chain.






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






47. 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






48. 1 Experiments 2 Pilot Projects 3 Surveys/questionnaires 4 Interviews (exit - panel - individual) 5 Focus group 6 Direct observation 7 Testing






49. 1 Global Economy 2 Wage comparison 3 Trade Agreement 4 International Labor Law






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







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