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. Identifies stakeholder expectations and power and helps in understanding political priorities.






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






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






4. 1 Vision and mission 2 Value Statement






5. A strategy by which an organisation offers existing products to new markets.






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






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






8. primary activities and support activities






9. 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






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






11. 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






12. 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.






13. 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






14. Risk associated with a particular business.






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






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






17. 1 Historical Data (HR records - census records) 2 Benchmarking and best practices reports 3 Purchased Data ( Gallup or Roper data) 4 Professional Journals - Books - and other media 5 Secondhand reports (grapevine reports)






18. A value creating strategy that creates more perceived value by primarily reducing costs






19. 1 Age 2 Gender 3 Generational Difference 4 Geographic shifts in population 5 Ethnicity 6 Unskilled Labor 7 Non traditional labor force






20. 1 Statement of the problem 2 Objectives 3 Description of potential solution 4 Project Time line 5 Project Metrics.






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






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






23. 1 Population 2 Sample 3 Normal Distribution






24. 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.






25. 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






26. New ideas should not be dismissed simply because they originated at a grassroots level. Business innovations developed under these circumstances will create new objectives or modify existing ones and create an overlay of new direction compared to wha






27. The central focus of the department is the provision of goods and services to the customer. Basically this department must ensure that the product/service is produced and delivered to the customer.






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






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






30. 1 Demographic Factors 2 Economic Factors 3 Employment Factors 4 International Factors 5 Political Factors 6 Social Factors 7 Technological Factors






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






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






33. 1 Interest Rates 2 Gross Domestic Product (GDP) 3 Consumer Price Index (CPI) 4 Disposable Income 5 Inflation






34. It involves data that is gathered firsthand for the specific evaluation being conduced.






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






36. Comparing operations in totally unrelated industries






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






38. Cut costs - add value - or increase prices






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






40. 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






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






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






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






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






45. 1 Preparation 2 Due Diligence 3 Planning integration of the business entities 4 Implementation - monitoring and measurement






46. 1 Financial 2 Human 3 Physical 4 Technological






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






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






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






50. 1 Cost Leadership 2 Differentiation 3 Focus