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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. Risk associated with a particular business.






2. 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.






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






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






5. 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)






6. A corporation that owns a large number of businesses that are different sizes and operate in different industry sectors.






7. Comparing 1 operation in the firm with another






8. 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






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






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






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






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






13. These objectives are generally achieved within 3 to 5 years. Establishing these objectives provides direction - synergy and aids in establishing guidelines for evaluation.






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






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






16. 1 Strategy Formulation 2 Strategy Development 3 Strategy Implementation 4 Strategy Evaluation






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






18. 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






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






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






21. It is a systematic process of gathering and analyzing all relevant data about external opportunities (emerging marketplace - additional capabilities provided through new technology.) and threats (emerging competition - shifts in marketplaces. )






22. Comparing operations in totally unrelated industries






23. A strategy by which an organization peruses new product offerings and new markets.






24. 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.






25. 1 Demographic Factors 2 Economic Factors 3 Employment Factors 4 International Factors 5 Political Factors 6 Social Factors 7 Technological Factors






26. 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






27. 1 Preparation 2 Due Diligence 3 Planning integration of the business entities 4 Implementation - monitoring and measurement






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






29. 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






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






31. They are often based on industry best practice.






32. 1 Attitudes towards career 2 Immigration 3 Occupational and industry skills 4 Recruitment 5 Unions 6 Unemployment 7 Turnover 8 Relocation






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






34. Cut costs - add value - or increase prices






35. Risk associated with macro-economic forces.






36. 1 Cost Benefit Analysis 2 Return On Investment 3 Breakeven Analysis 4 Financial Statement Analysis






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






38. 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






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






40. Value - Exploit - Rare - Imitate - Substitute






41. It describes what is important to an organization and often dictate employee behavior. They are the heart of the culture of an organization.






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






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






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






45. Describes the structure of product - service - and information flows and the role of participating parties.






46. The organization relies on high energy and creativity. Attempts to develop products and services - decision may be made to use experiences staff so training is not an integral part of this phase. may meet or exceed the standard pay range to recruit






47. 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.






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






49. 1 SWOT analysis and environmental scanning 2 Long term objectives 3 Strategies to achieve these objectives are defined






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







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