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






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






3. 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"






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






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






6. 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.






7. A merger or acquisition where there is some similarity of industry and/or value chain between the corporation and the company it seeks to acquire.






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






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






10. Risk associated with macro-economic forces.






11. 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.






12. 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.






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






14. 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






15. 1 Work Specialization 2 Departmentalization 3 Chain of Command 4 Centralization and Decentralization 5 Formalization






16. 1 Organizational Strategy 2 Business unit strategy 3 Functional Strategy






17. 1 Short term objective 2 Action plan to achieve these objective 3 Allocating resources 4 Motivating employees to manage the plan.






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






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






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






21. 1 Financial 2 Human 3 Physical 4 Technological






22. 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.






23. 1 Age 2 Gender 3 Generational Difference 4 Geographic shifts in population 5 Ethnicity 6 Unskilled Labor 7 Non traditional labor force






24. It can be defined as principles of conduct within an organization that guide decision making and behavior.






25. 1 Balance Scorecard






26. 1 Cost Benefit Analysis 2 Return On Investment 3 Breakeven Analysis 4 Financial Statement Analysis






27. The choices made through the 4 Ps : Product - Price - Place and Promotion are what makes a product or service unique. This is distinctive blend of marketing decision.






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






29. 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.






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






31. 1 They can help to identify improvements in an organization's performance that can be attributed to the projects 2 They can suggest appropriate targets for improvement to be included in project objectives.






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






33. Scheduling problems are largely resolved - and staffing and organizational culture begin to stabilize. Policies - procedures and rules are formalized and communicated to all employees. Training gains added emphasis in this phase to maintain flexibi






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






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






36. 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






37. 1 Statement of the problem 2 Objectives 3 Description of potential solution 4 Project Time line 5 Project Metrics.






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






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






40. 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.






41. They are often based on industry best practice.






42. 1. multinational 2. global 3. transnational






43. Special Purpose Acquisition Company. Empty-shell firms that promise to buy businesses with the proceeds of their initial public stock offerings.






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






45. A tool to help you think about the wider issues that have an impact on the industry or service area as a whole - taking five main categories into account: Socio-cultural - Technological - Economic - Environmental - Political






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






47. 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.






48. 1 Strategy Formulation 2 Strategy Development 3 Strategy Implementation 4 Strategy Evaluation






49. Suppliers - buyers - competitive rivalry - product substitutes and potential entrants; reinforces the importance of economic theory; analytical tool of previously lacking the field of strategy; determines the nature/level of competition and profit






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