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






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






3. Special Purpose Acquisition Company. Empty-shell firms that promise to buy businesses with the proceeds of their initial public stock offerings.






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






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






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






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






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






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






10. Comparing 1 operation in the firm with another






11. 1 Age 2 Gender 3 Generational Difference 4 Geographic shifts in population 5 Ethnicity 6 Unskilled Labor 7 Non traditional labor force






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






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






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






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






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






17. 1 Cost Benefit Analysis 2 Return On Investment 3 Breakeven Analysis 4 Financial Statement Analysis






18. 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.






19. 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






20. 1. multinational 2. global 3. transnational






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






22. Value - Exploit - Rare - Imitate - Substitute






23. 1 Balance Scorecard






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






25. 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






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






27. 1 Advances in technology 2 Technological skills 3 The digital divide 4 Process changes






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






29. 1 Interest Rates 2 Gross Domestic Product (GDP) 3 Consumer Price Index (CPI) 4 Disposable Income 5 Inflation






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






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






32. 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.






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






34. Divestiture in which a corporation creates a new company out of one of its businesses. The new company has its own shares of stock and shareholders - and its own board of directors. Typically - shareholders of the corporation will receive newly iss






35. primary activities and support activities






36. 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






37. 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)






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






39. 1 Attitudes towards career 2 Immigration 3 Occupational and industry skills 4 Recruitment 5 Unions 6 Unemployment 7 Turnover 8 Relocation






40. 1 Charts and graphs 2 Measures of central tendency 3 Measures of variation 4 Measures of association






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






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






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






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






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






46. 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






47. Quality of information and interpretation of it






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






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






50. 1 Planning 2 Organizing 3 Directing 4 Controlling