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






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






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






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






5. 1 SWOT analysis and environmental scanning 2 Long term objectives 3 Strategies to achieve these objectives are defined






6. 1. multinational 2. global 3. transnational






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






8. 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






9. 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






10. 1 Charts and graphs 2 Measures of central tendency 3 Measures of variation 4 Measures of association






11. 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.






12. 1 Strategies are reviewed 2 Performance towards objective is measured 3 Corrective action is taken






13. Comparing operations in totally unrelated industries






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






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






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






17. 1 Preparation 2 Due Diligence 3 Planning integration of the business entities 4 Implementation - monitoring and measurement






18. 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






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






20. Corporation that owns the majority of voting shares of other companies - but that allows the other companies to operate as independent entities.






21. 1 Traditional Generation 2 Baby Boom Generation 3 Generation X 4 Generation Y






22. 1 Vision and mission 2 Value Statement






23. These are the detailed steps a unit - department - or team will take in order to achieve the short term objectives.






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






25. 1 Planning 2 Organizing 3 Directing 4 Controlling






26. 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






27. 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.






28. Value - Exploit - Rare - Imitate - Substitute






29. 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?






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






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






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






33. Cost savings accomplished by operating combined companies more efficiently.






34. 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)






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






36. 1 The rule is proposed 2 Public comment is invited 3 The final rule is issued






37. Risk associated with a particular business.






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






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






40. 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






41. A strategy by which an organization takes increased share of its existing markets with its existing product range.






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






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






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






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






46. 1 Attitudes towards career 2 Immigration 3 Occupational and industry skills 4 Recruitment 5 Unions 6 Unemployment 7 Turnover 8 Relocation






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






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






49. 1 Introduction 2 Growth 3 Maturity 4 Decline






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