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Test your basic knowledge |
Business Strategy
Start Test
Study First
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 simple and effective process for collecting information on the organization's current state. It answers four basic question.
SWOT Analysis
Focus
Due Diligence
Five Forces
2. Comparing a the firms operations with a direct competitor
Strategic business unit (SBU)
Strategic business unit
external benchmarking
primary activities of a business
3. It involves data that is gathered firsthand for the specific evaluation being conduced.
generic benchmarking
Primary Research
bottom-up
Junk bond
4. A strategy by which an organization takes increased share of its existing markets with its existing product range.
Market Penetrati
Downscoping
Demographic Factors
Generational Difference
5. Risk associated with a particular business.
Diversification
Systematic risk
Unsystematic risk
Corporate strategy
6. When a corporation can take synergistic advantage of administrative and support activities of the value chain in making an acquisition.
Management fit
Growth
Employment Factors
mentality of MNC
7. 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
Economizing
Stakeholder mapping
Maturity
Primary Research
8. Corporation that owns the majority of voting shares of other companies - but that allows the other companies to operate as independent entities.
Holding company
Cross-sector diversification
Business strategy
Stakeholders
9. Comparing 1 operation in the firm with another
internal benchmarking
Private equity firm
generic benchmarking
Stakeholder mapping
10. 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
mentality of MNC
Business Case
STEEP
Conglomerate
11. Ability to broaden a product line or a customer base achieved through an acquisition.
External Benchmarks
Scope
Value Statement
value creating operations in the value chain of operation
12. Special Purpose Acquisition Company. Empty-shell firms that promise to buy businesses with the proceeds of their initial public stock offerings.
Strategic Information Systems
SWOT Analysis
SPAC
Cost Leadership
13. 1 Global Economy 2 Wage comparison 3 Trade Agreement 4 International Labor Law
Downscoping
Business Case
Stakeholders
International Factors
14. A process where a company is bought primarily using debt. Typically engineered by management of the company - or by private equity firms.
Inferential Statistic
Organization Structure
Leveraged buyout (LBO)
Core Values
15. The benefits that develop through the extension and application of corporate resources to a newly acquired company.
Resources leverage
Core Values
top-down
Porters Competitive Strategies
16. 1 Experiments 2 Pilot Projects 3 Surveys/questionnaires 4 Interviews (exit - panel - individual) 5 Focus group 6 Direct observation 7 Testing
Action Plan
International Factors
Primary Research
Strategies at three levels
17. 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.
Purpose of benchmarks
Operations
Business model
Leveraged buyout (LBO)
18. Is part of an organization for which there is a distinct external market for goods or services that is different from another SBU
Demographic Factors
to increase profitability
Financial Measures
Strategic business unit
19. Is concerned with the ways in which an organization exeeds its minimum obligations to stakeholders specified through regulation.
Porters Competitive Strategies
Corporate social responsibility
functional benchmarking
Mid term Objectives
20. Acquisition of a company that operates in the same industry using the same value chain.
Resources
Horizontal diversification
Descriptive Statistic
international strategy
21. Economic - legal resp. - ethical - and discretionary
Primary Research
type of responsibilities of a business
Employment Factors
Strategic Planning Phase
22. A corporation that owns a large number of businesses that are different sizes and operate in different industry sectors.
Conglomerate
Scope
Strategy Implementation
Dominant business
23. 1 Attitudes towards career 2 Immigration 3 Occupational and industry skills 4 Recruitment 5 Unions 6 Unemployment 7 Turnover 8 Relocation
Factors that affect external environment
Junk bond
Controlling
Employment Factors
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.
Strategic Groups
Value Statement
Unsystematic risk
Blue ocean Strategy
25. 1. multinational 2. global 3. transnational
Environmental scanning
types of competitive strategies for international businesses
External Benchmarks
STEEP
26. 1 Population 2 Sample 3 Normal Distribution
Strategy Formulation
Operational fit
Factors that affect external environment
Inferential Statistic
27. It describes what is important to an organization and often dictate employee behavior. They are the heart of the culture of an organization.
generic benchmarking
Management Functions
Inferential Statistic
Value Statement
28. A value creating strategy that creates more perceived value by primarily reducing costs
low-cost strategy
Off shoring
Unsystematic risk
Secondary Research
29. A process and goal: the process: choices regarding acquiring and using scared resources: the goal: maintain and achieving a unique and valuable position in the international market
international strategy
Ethical Behavior
Extended Organization
Merger and Acquisition Process
30. 1 Statement of the problem 2 Objectives 3 Description of potential solution 4 Project Time line 5 Project Metrics.
Core competences
Parts of Business Case
primary activities of a business
Generational Difference
31. Quality of information and interpretation of it
Takeover
Quantitative Analysis
efficiency frontier
key to success in strategic planning
32. It uses data already gathered by others and reported in various sources.
External Benchmarks
Strategy Evaluation
Organizing
Secondary Research
33. 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
value creating operations in the value chain of operation
PESTEL
International Factors
Spin-off
34. Adhering to set of governing principles whether the philosophy is one of fairness - individual rights - avoiding conflicts of interest or another philosophical grounding.
Ethical Behavior
Strategy Formulation
Environmental scanning
CLO
35. 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.
low-cost strategy
Off shoring
Management Functions
Scenarios
36. The resources and competences of an organization needed for it to survive and prosper.
Conglomerate
Strategic method
Strategic capability
Secondary Research
37. 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
efficiency frontier
to increase profitability
Mid term Objectives
to maximize profits
38. The types of decisions made and direction created for a single business
to increase profitability
Value network
Business strategy
Due Diligence
39. Refers to an intensive investigation of all factors surrounding a business decision to ensure that all risks are understood.
Due Diligence
Employment Factors
primary activities of a business
Methodologies Of Operations
40. 1 Introduction 2 Growth 3 Maturity 4 Decline
Core Values
Value Statement
Strategic Planning Phase
Business Life Cycle Phases
41. It is a system of moral principles and values that establish appropriate conduct.
Related diversification
Ethics
Dominant business
Descriptive Statistic
42. It is based on numeric data that is analyzed with statistic method. 1 Descriptive Statistic 2 Inferential Statistic
skills businesses need to create competitive advantage
Quantitative Analysis
Operational fit
Generational Difference
43. 1. R&D 2. production 3. marketing and sales 4. customer service
Vertical diversification
Technological Factors
international strategy
primary activities of a business
44. Independent & entrepreneurial - adopts a more flexible approach to their international operations - More sensitive & responsive to local environment
Strategic business unit
common practices when analyzing your competition
mentality of a MNC manager
Purpose of benchmarks
45. 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
Extended Organization
Strategic business management
Strategic business unit (SBU)
Mission Statement
46. 1 Planning 2 Organizing 3 Directing 4 Controlling
STEEP
international strategy
Management Functions
low-cost strategy
47. 1 Preparation 2 Due Diligence 3 Planning integration of the business entities 4 Implementation - monitoring and measurement
Downscoping
mentality of MNC
Merger and Acquisition Process
Internal Benchmarks
48. These strategies attempt to set the product or service apart form its competition by giving it unique characteristic that customers value and for which they will be willing to pay a premium price.
Marketing Mix
Differentiation
Economic Factors
Strategy Implementation
49. A strategy by which an organization peruses new product offerings and new markets.
Unsystematic risk
Strategic method
The law making Process
Diversification
50. Studying the future and arranging the means for dealing with it - which encompass forecasting - selling goals - and determining actions. eg: Forecasting future staffing needs.
low-cost strategy
Vertical diversification
Planning
Marketing Mix