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. 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






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






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






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






5. Specific - Measurable - Attainable - Realistic - Timely






6. 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.






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






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






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






12. Cut costs - add value - or increase prices






13. Comparing similar functional firms in your industry






14. When a corporation reduces its level of diversification and strategically refocuses on core businesses where the synergies of scope - economizing - and leverage are more evident and more easily realized.






15. 1 Strategy Formulation 2 Strategy Development 3 Strategy Implementation 4 Strategy Evaluation






16. 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.






17. 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.






18. 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






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






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






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






22. New ideas should not be dismissed simply because they originated at a grassroots level. Business innovations developed under these circumstances will create new objectives or modify existing ones and create an overlay of new direction compared to wha






23. 1 Statement of the problem 2 Objectives 3 Description of potential solution 4 Project Time line 5 Project Metrics.






24. 1 Experiments 2 Pilot Projects 3 Surveys/questionnaires 4 Interviews (exit - panel - individual) 5 Focus group 6 Direct observation 7 Testing






25. Risk associated with macro-economic forces.






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






27. Sell more in existing markets - or enter new markets






28. Risk associated with a particular business.






29. Is concerned with the structures and systems of control by which managers are held accountable to those who have a legitimate stake an organization.






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






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






32. They are often based on industry best practice.






33. 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.






34. 1 Strategies are reviewed 2 Performance towards objective is measured 3 Corrective action is taken






35. 1 Capacity 2 Standards 3 Scheduling 4 Inventory 5 Control






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






37. 1 Age 2 Gender 3 Generational Difference 4 Geographic shifts in population 5 Ethnicity 6 Unskilled Labor 7 Non traditional labor force






38. 1 Organizational Strategy 2 Business unit strategy 3 Functional Strategy






39. 1 Cost Leadership 2 Differentiation 3 Focus






40. 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






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






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






43. 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.






44. 1 Planning 2 Organizing 3 Directing 4 Controlling






45. Comparing 1 operation in the firm with another






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






47. 1 The rule is proposed 2 Public comment is invited 3 The final rule is issued






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






49. 1 Introduction 2 Growth 3 Maturity 4 Decline






50. Quality of information and interpretation of it