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






2. 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.






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






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






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






6. 1 Cost Leadership 2 Differentiation 3 Focus






7. 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






8. 1 Strategies are reviewed 2 Performance towards objective is measured 3 Corrective action is taken






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






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






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






12. 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"






13. 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.






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






15. A tool to help you think about the wider issues that have an impact on the industry or service area as a whole - taking five main categories into account: Socio-cultural - Technological - Economic - Environmental - Political






16. 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






17. Adhering to set of governing principles whether the philosophy is one of fairness - individual rights - avoiding conflicts of interest or another philosophical grounding.






18. 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






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






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






21. It is based on numeric data that is analyzed with statistic method. 1 Descriptive Statistic 2 Inferential Statistic






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






23. 1 SWOT analysis and environmental scanning 2 Long term objectives 3 Strategies to achieve these objectives are defined






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






25. 1 Work Specialization 2 Departmentalization 3 Chain of Command 4 Centralization and Decentralization 5 Formalization






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






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






28. 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






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






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






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






32. 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.






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






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






35. 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.






36. 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.






37. Comparing 1 operation in the firm with another






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






39. 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.






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






41. 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.






42. They are used to condense and summarize large quantities of data for quick understanding.






43. 1 Age 2 Gender 3 Generational Difference 4 Geographic shifts in population 5 Ethnicity 6 Unskilled Labor 7 Non traditional labor force






44. 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.






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






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






47. Comparing a the firms operations with a direct competitor






48. 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.






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






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