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 Balance Scorecard






2. 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.






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






4. 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






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






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






7. 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






8. 1 Vision and mission 2 Value Statement






9. The skills and abilities by which resources are deployed through an organization's activities and processes such as to achieve competitive advantage in ways that others cannot imitate or obtain.






10. 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.






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






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






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






14. 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.






15. 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






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






17. 1 Charts and graphs 2 Measures of central tendency 3 Measures of variation 4 Measures of association






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






19. Independent & entrepreneurial - adopts a more flexible approach to their international operations - More sensitive & responsive to local environment






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






21. 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.






22. primary activities and support activities






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






24. The organization relies on high energy and creativity. Attempts to develop products and services - decision may be made to use experiences staff so training is not an integral part of this phase. may meet or exceed the standard pay range to recruit






25. 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.






26. 1 Organizational Strategy 2 Business unit strategy 3 Functional Strategy






27. 1 The rule is proposed 2 Public comment is invited 3 The final rule is issued






28. Comparing operations in totally unrelated industries






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






30. 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"






31. A company in which 70-95% of revenue comes from a single business






32. 1 Financial 2 Human 3 Physical 4 Technological






33. Where an individual (such as a corporate officer) acts on behalf of someone else (such as a shareholder)






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






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






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






37. Comparing 1 operation in the firm with another






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






39. 1 Traditional Generation 2 Baby Boom Generation 3 Generation X 4 Generation Y






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






41. 1 Global Economy 2 Wage comparison 3 Trade Agreement 4 International Labor Law






42. 1 Strategies are reviewed 2 Performance towards objective is measured 3 Corrective action is taken






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






44. 1 Statement of the problem 2 Objectives 3 Description of potential solution 4 Project Time line 5 Project Metrics.






45. 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






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






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






48. Serve the purpose similar to short term objectives but are completed in 1 to 3 years.






49. 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?






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