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Business Strategy
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Study First
Subject
:
business-skills
Instructions:
Answer 50 questions in 15 minutes.
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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 categories of activities within and around an organization which together create a product or service.
STEEP
Ethics
To achieve competitive advantage and superior profitability
Value chain
2. The underlying principles that guide an organization's strategy
Core Values
international strategy
to maximize profits
Corporate strategy
3. 1. information systems 2. logistics 3. HR
mentality of MNC
functional benchmarking
Purpose of benchmarks
support activities of a business
4. A process where a company is bought primarily using debt. Typically engineered by management of the company - or by private equity firms.
Core competences
Leveraged buyout (LBO)
Factors that affect external environment
Holding company
5. 1 SWOT analysis and environmental scanning 2 Long term objectives 3 Strategies to achieve these objectives are defined
Strategy Development
Due Diligence
Economic Factors
Cost Leadership
6. Business remain separate entities but may appear to outsiders as one entity. Commonly formed through the use of outsourcing.
Off shoring
Performance Measures
Corporate governance
Extended Organization
7. Comparing a the firms operations with a direct competitor
Conglomerate
external benchmarking
Technological Factors
Off shoring
8. When a corporation can take synergistic advantage of relationships with suppliers and/or customers in making an acquisition.
Secondary Research
Internal Benchmarks
Market fit
primary activities of a business
9. Not necessarily considered HR core function like benefits plan administration - payroll administration - and background checks - etc.
generic benchmarking
Secondary Research
HR functions that can be outsourced
CLO
10. 1 Experiments 2 Pilot Projects 3 Surveys/questionnaires 4 Interviews (exit - panel - individual) 5 Focus group 6 Direct observation 7 Testing
Short term Objectives
Junk bond
Takeover
Primary Research
11. Sell more in existing markets - or enter new markets
Porters Competitive Strategies
Economizing
Agency
to obtain profit growth
12. 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.
low-cost strategy
Economizing
Action Plan
Downscoping
13. 1. talking to competitors - customers - and distributors 2. testing competitors products 3. view competitors exhibits at trade shows
common practices when analyzing your competition
STEEP
Strategy Development
to increase profitability
14. Is part of an organization for which there is a distinct external market for goods or services that is different from another SBU
Cross-sector diversification
Strategic business unit
Value network
Leveraged buyout (LBO)
15. 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
Long term Objectives
Management Functions
Corporate social responsibility
Emergent Strategy
16. Independent & entrepreneurial - adopts a more flexible approach to their international operations - More sensitive & responsive to local environment
Growth
Core Values
Holding company
mentality of a MNC manager
17. 1. multinational 2. global 3. transnational
Focus
SPAC
Business Case
types of competitive strategies for international businesses
18. Corporation that owns the majority of voting shares of other companies - but that allows the other companies to operate as independent entities.
Scope
Business model
Value Statement
Holding company
19. 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
Short term Objectives
Junk bond
Conglomerate
Resources leverage
20. Is the set of internationalization links and relationships that are necessary to create a product or service.
Core competences
Value network
SPAC
Planning
21. 1 Capacity 2 Standards 3 Scheduling 4 Inventory 5 Control
Blue ocean Strategy
Spin-off
Methodologies Of Operations
benefits of competitor intelligence
22. 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.
Off shoring
to maximize profits
Corporate strategy
Strategic business unit (SBU)
23. 1 Preparation 2 Due Diligence 3 Planning integration of the business entities 4 Implementation - monitoring and measurement
Vertical diversification
Merger and Acquisition Process
Stakeholder mapping
Directing
24. Economic - legal resp. - ethical - and discretionary
type of responsibilities of a business
Strategic business unit (SBU)
efficiency frontier
Junk bond
25. 1 Vision and mission 2 Value Statement
Five Forces
Strategy Formulation
Scenarios
low-cost strategy
26. Private (nonpublic) corporations or partnerships that use their financial resources to engineer buyouts and acquisitions of other companies.
Private equity firm
Takeover
Management fit
support activities of a business
27. 1. R&D 2. production 3. marketing and sales 4. customer service
Strategy Implementation
Focus
primary activities of a business
Strategic capability
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
to maximize profits
low-cost strategy
mentality of MNC
Blue ocean Strategy
29. 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.
Core competences
Directing
Decline
Inferential Statistic
30. Engaging in those activities that ensure effective operation - including leadership and motivation pf employee action towards goals. eg : Scheduling and conducting interview.
Short term Objectives
functional benchmarking
Controlling
Directing
31. 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
Junk bond
Growth
STEEP
Business strategy
32. Where an individual (such as a corporate officer) acts on behalf of someone else (such as a shareholder)
Strategic Planning Phase
Off shoring
Agency
Code of Ethics
33. 1 Global Economy 2 Wage comparison 3 Trade Agreement 4 International Labor Law
International Factors
Porters Competitive Strategies
Corporate governance
Scope
34. 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"
Management Functions
CLO
Organization Structure
key to success in strategic planning
35. 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.
Unsystematic risk
Scope
to obtain profit growth
Differentiation
36. Value - Exploit - Rare - Imitate - Substitute
SPAC
External Benchmarks
Vertical diversification
skills businesses need to create competitive advantage
37. Cost savings accomplished by operating combined companies more efficiently.
Scenarios
Strategic Planning
SPAC
Economizing
38. Is concerned with the ways in which an organization exeeds its minimum obligations to stakeholders specified through regulation.
Market Penetrati
Corporate social responsibility
Core Values
Resources
39. 1 Introduction 2 Growth 3 Maturity 4 Decline
Business Life Cycle Phases
Corporate strategy
Environmental Scanning
Business strategy
40. A corporation that owns a large number of businesses that are different sizes and operate in different industry sectors.
Controlling
Market development
Conglomerate
HR functions that can be outsourced
41. 1 Financial 2 Human 3 Physical 4 Technological
Dominant business
Business Case
Resources
SMART Goals
42. A strategy by which an organisation offers existing products to new markets.
Strategies at three levels
Market development
Quantitative Analysis
Action Plan
43. These are the detailed steps a unit - department - or team will take in order to achieve the short term objectives.
Related diversification
Action Plan
Off shoring
Systematic risk
44. 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?
Market Penetrati
Strategic Planning
Cost Leadership
to obtain profit growth
45. Ensuring that everything is carried out according to the plan. Eg: Measuring recruiting efforts and effectiveness.
Core competences
Controlling
bottom-up
Emergent Strategy
46. 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
Parts of Business Case
Business Case
Strategic business management
Factors that affect external environment
47. Organizations within an industry with similar strategic characteristics - following similar strategies or competing on similar bases
Off shoring
Strategic Groups
Code of Ethics
Growth
48. 1 Age 2 Gender 3 Generational Difference 4 Geographic shifts in population 5 Ethnicity 6 Unskilled Labor 7 Non traditional labor force
Stakeholder mapping
Demographic Factors
Off shoring
Directing
49. 1 Planning 2 Organizing 3 Directing 4 Controlling
Market development
efficiency frontier
Management Functions
Porters Competitive Strategies
50. Information systems with a charter to achieve competitive superiority.
Ethical Behavior
Strategic Information Systems
Due Diligence
Systematic risk
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