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. They represent milestones that must be achieved in order to reach the long term objectives. They are usually within 6 months to a year.






2. 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






3. Cut costs - add value - or increase prices






4. Is the set of internationalization links and relationships that are necessary to create a product or service.






5. 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?






6. Private (nonpublic) corporations or partnerships that use their financial resources to engineer buyouts and acquisitions of other companies.






7. Specific - Measurable - Attainable - Realistic - Timely






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






9. 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.






10. 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.






11. 1 Preparation 2 Due Diligence 3 Planning integration of the business entities 4 Implementation - monitoring and measurement






12. 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.






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






14. 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"






15. Comparing operations in totally unrelated industries






16. 1 Cost Leadership 2 Differentiation 3 Focus






17. 1 Attitudes towards career 2 Immigration 3 Occupational and industry skills 4 Recruitment 5 Unions 6 Unemployment 7 Turnover 8 Relocation






18. 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






19. A merger or acquisition where there is some similarity of industry and/or value chain between the corporation and the company it seeks to acquire.






20. 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.






21. 1 The rule is proposed 2 Public comment is invited 3 The final rule is issued






22. When a corporation can take synergistic advantage of relationships with suppliers and/or customers in making an acquisition.






23. The categories of activities within and around an organization which together create a product or service.






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






25. 1 Historical Data (HR records - census records) 2 Benchmarking and best practices reports 3 Purchased Data ( Gallup or Roper data) 4 Professional Journals - Books - and other media 5 Secondhand reports (grapevine reports)






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






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






28. 1 Vision and mission 2 Value Statement






29. Quality of information and interpretation of it






30. 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






31. 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






32. 1 Capacity 2 Standards 3 Scheduling 4 Inventory 5 Control






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






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






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






36. Comparing 1 operation in the firm with another






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






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






39. 1 Statement of the problem 2 Objectives 3 Description of potential solution 4 Project Time line 5 Project Metrics.






40. 1 Advances in technology 2 Technological skills 3 The digital divide 4 Process changes






41. 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.






42. 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






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






44. 1 Demographic Factors 2 Economic Factors 3 Employment Factors 4 International Factors 5 Political Factors 6 Social Factors 7 Technological Factors






45. 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






46. 1. multinational 2. global 3. transnational






47. 1 Organizational Strategy 2 Business unit strategy 3 Functional Strategy






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






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






50. 1 Cost Benefit Analysis 2 Return On Investment 3 Breakeven Analysis 4 Financial Statement Analysis