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






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






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






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






6. Organization become entrenched in rules and policies and leadership become resistant to change. series of efforts to turn the tide such as product enhancement or cost reduction programs. If unsuccessful in these then will focus on reducing workforce






7. primary activities and support activities






8. Cut costs - add value - or increase prices






9. These strategy requires that organizations focus on a particular buyer group - segment of the product line or geographical market within an industry. It is build around serving particular target to the exclusion of others.






10. 1 SWOT analysis and environmental scanning 2 Long term objectives 3 Strategies to achieve these objectives are defined






11. The categories of activities within and around an organization which together create a product or service.






12. Is the set of internationalization links and relationships that are necessary to create a product or service.






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






14. Comparing operations in totally unrelated industries






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






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






17. 1 Planning 2 Organizing 3 Directing 4 Controlling






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






19. 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






20. 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






21. 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.






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






23. 1 Demographic Factors 2 Economic Factors 3 Employment Factors 4 International Factors 5 Political Factors 6 Social Factors 7 Technological Factors






24. 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.






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






26. 1 Vision and mission 2 Value Statement






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






28. 1 Capacity 2 Standards 3 Scheduling 4 Inventory 5 Control






29. Value - Exploit - Rare - Imitate - Substitute






30. Comparing 1 operation in the firm with another






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






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






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






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






35. Comparing similar functional firms in your industry






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






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






38. 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.






39. 1 Strategies are reviewed 2 Performance towards objective is measured 3 Corrective action is taken






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






41. 1 Experiments 2 Pilot Projects 3 Surveys/questionnaires 4 Interviews (exit - panel - individual) 5 Focus group 6 Direct observation 7 Testing






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






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






44. 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






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






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






48. 1 Traditional Generation 2 Baby Boom Generation 3 Generation X 4 Generation Y






49. 1 Balance Scorecard






50. 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







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