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






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






3. Designing a structure to assist in goal accomplishment that effectively relates human and nonhuman resources to the tasks of enterprise.Eg : Designing an interview process.






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






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






6. 1 Population 2 Sample 3 Normal Distribution






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






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. 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






10. 1. improve bidding success 2. identify competitors key customers 3. identify expansion plans 4. improve understanding of competitors






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






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






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






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






15. Risk associated with macro-economic forces.






16. Refers to an intensive investigation of all factors surrounding a business decision to ensure that all risks are understood.






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






18. 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.






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






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






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






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






23. 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






24. 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






25. Comparing a the firms operations with a direct competitor






26. 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"






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






28. 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.






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






30. primary activities and support activities






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






32. It involves data that is gathered firsthand for the specific evaluation being conduced.






33. 1 Interest Rates 2 Gross Domestic Product (GDP) 3 Consumer Price Index (CPI) 4 Disposable Income 5 Inflation






34. Acquisition of another company upstream (supplier) or downstream (buyer) in the value chain of the same industry in which the corporation operates.






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






36. 1 Experiments 2 Pilot Projects 3 Surveys/questionnaires 4 Interviews (exit - panel - individual) 5 Focus group 6 Direct observation 7 Testing






37. 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






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






39. 1 Traditional Generation 2 Baby Boom Generation 3 Generation X 4 Generation Y






40. 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)






41. 1 Attitudes towards career 2 Immigration 3 Occupational and industry skills 4 Recruitment 5 Unions 6 Unemployment 7 Turnover 8 Relocation






42. 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.






43. Comparing 1 operation in the firm with another






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






45. 1. information systems 2. logistics 3. HR






46. 1 Cost Benefit Analysis 2 Return On Investment 3 Breakeven Analysis 4 Financial Statement Analysis






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






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






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






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