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 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?






2. Comparing a the firms operations with a direct competitor






3. A process where a large group of shareholders vote in new members to the board of directors - with the result that the new board can make changes in the company's management.






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






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






6. 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)






7. 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






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






9. 1 Introduction 2 Growth 3 Maturity 4 Decline






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






11. 1 Organizational Strategy 2 Business unit strategy 3 Functional Strategy






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






13. 1 Short term objective 2 Action plan to achieve these objective 3 Allocating resources 4 Motivating employees to manage the plan.






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






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






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






17. 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"






18. Is part of an organization for which there is a distinct external market for goods or services that is different from another SBU






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






20. 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






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






22. 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.






23. 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






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






25. They are used to condense and summarize large quantities of data for quick understanding.






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






27. 1 Population 2 Sample 3 Normal Distribution






28. 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






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






30. 1 Balance Scorecard






31. 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.






32. 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.






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






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






35. Cut costs - add value - or increase prices






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






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






38. 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.






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






40. 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






41. Quality of information and interpretation of it






42. 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.






43. A value creating strategy that primary increases perceived value by increasing attractiveness of product






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






45. 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






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






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






48. 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.






49. 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






50. Comparing operations in totally unrelated industries