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






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






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






4. Specific - Measurable - Attainable - Realistic - Timely






5. 1 Planning 2 Organizing 3 Directing 4 Controlling






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






7. 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.






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






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






10. 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?






11. 1 Financial 2 Human 3 Physical 4 Technological






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






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






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






15. 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)






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






17. The underlying principles that guide an organization's strategy






18. Acquisition of a company that operates in the same industry using the same value chain.






19. 1 Experiments 2 Pilot Projects 3 Surveys/questionnaires 4 Interviews (exit - panel - individual) 5 Focus group 6 Direct observation 7 Testing






20. 1. multinational 2. global 3. transnational






21. 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"






22. Engaging in those activities that ensure effective operation - including leadership and motivation pf employee action towards goals. eg : Scheduling and conducting interview.






23. 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






24. 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.






25. 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.






26. 1 Demographic Factors 2 Economic Factors 3 Employment Factors 4 International Factors 5 Political Factors 6 Social Factors 7 Technological Factors






27. 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






28. Quality of information and interpretation of it






29. 1 Age 2 Gender 3 Generational Difference 4 Geographic shifts in population 5 Ethnicity 6 Unskilled Labor 7 Non traditional labor force






30. 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






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






32. 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






33. 1 Introduction 2 Growth 3 Maturity 4 Decline






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






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






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






37. 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.






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






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






40. 1 Advances in technology 2 Technological skills 3 The digital divide 4 Process changes






41. 1 Organizational Strategy 2 Business unit strategy 3 Functional Strategy






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






43. 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






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






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






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






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






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






49. When a corporation can take synergistic advantage of relationships with suppliers and/or customers in making an acquisition.






50. 1 Balance Scorecard