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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. 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
to obtain profit growth
Spin-off
Directing
Corporate social responsibility
2. The types of decisions made and direction created for a single business
low-cost strategy
Business strategy
Quantitative Analysis
Short term Objectives
3. A value creating strategy that creates more perceived value by primarily reducing costs
Corporate strategy
low-cost strategy
SWOT Analysis
Conglomerate
4. Ability to broaden a product line or a customer base achieved through an acquisition.
Diversification
Scope
Business Case
External Benchmarks
5. 1 Financial 2 Human 3 Physical 4 Technological
Critical success factors
Differentiation
Resources
Unrelated diversification
6. 1 Strategies are reviewed 2 Performance towards objective is measured 3 Corrective action is taken
Strategy Evaluation
internal benchmarking
Long term Objectives
to maximize profits
7. Business remain separate entities but may appear to outsiders as one entity. Commonly formed through the use of outsourcing.
generic benchmarking
Value chain
Strategies at three levels
Extended Organization
8. 1 Population 2 Sample 3 Normal Distribution
Inferential Statistic
Junk bond
Conglomerate
Critical success factors
9. Individuals or groups who depend on an organization to fulfill their own goals and on whom - in turn the organization depends.
Leveraged buyout (LBO)
Strategic Planning Phase
Stakeholders
Primary Research
10. 1 Attitudes towards career 2 Immigration 3 Occupational and industry skills 4 Recruitment 5 Unions 6 Unemployment 7 Turnover 8 Relocation
Strategic Groups
Management fit
Employment Factors
Operations
11. 1 Balance Scorecard
Introduction
Differentiation
primary activities of a business
Performance Measures
12. A company in which 70-95% of revenue comes from a single business
Off shoring
Descriptive Statistic
Dominant business
External Benchmarks
13. 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?
external benchmarking
Takeover
Strategic Planning
Primary Research
14. When a corporation can take synergistic advantage of administrative and support activities of the value chain in making an acquisition.
Purpose of benchmarks
Decline
Factors that affect external environment
Management fit
15. Is concerned with the ways in which an organization exeeds its minimum obligations to stakeholders specified through regulation.
Operations
Organization Structure
Corporate social responsibility
Mid term Objectives
16. 1 Cost Leadership 2 Differentiation 3 Focus
Extended Organization
types of competitive strategies for international businesses
Scope
Porters Competitive Strategies
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)
efficiency frontier
Core Values
Secondary Research
Introduction
18. Comparing similar functional firms in your industry
functional benchmarking
Code of Ethics
Corporate governance
Long term Objectives
19. Internal Benchmarks establish levels of current performance of a particular tasks - such as cost per hire.
Strategic business management
Organization Structure
Internal Benchmarks
External Benchmarks
20. 1. R&D 2. production 3. marketing and sales 4. customer service
Employment Factors
differentiation
mentality of MNC
primary activities of a business
21. Comparing 1 operation in the firm with another
Vertical diversification
Value chain
internal benchmarking
mentality of a MNC manager
22. 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.
Conglomerate
Scope
Unrelated diversification
value creating operations in the value chain of operation
23. It is a vivid - guiding image of the organization's desired future. It is the ultimate picture of what leadership envisions for the organization.
Cultural web
Environmental scanning
Generational Difference
Vision Statement
24. When a corporation reduces its level of diversification and strategically refocuses on core businesses where the synergies of scope - economizing - and leverage are more evident and more easily realized.
Management Functions
Downscoping
Demographic Factors
Performance Measures
25. 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.
Strategy Formulation
Strategic business management
Organizing
PESTEL
26. 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.
Controlling
Related diversification
Emergent Strategy
Focus
27. 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.
Merger and Acquisition Process
key to success in strategic planning
Balanced scorecards
Focus
28. 1 Work Specialization 2 Departmentalization 3 Chain of Command 4 Centralization and Decentralization 5 Formalization
Strategic Groups
Organization Structure
Due Diligence
Conglomerate
29. Acquisition of another company upstream (supplier) or downstream (buyer) in the value chain of the same industry in which the corporation operates.
mentality of a MNC manager
Stakeholder mapping
Vertical diversification
Scenarios
30. Economic - legal resp. - ethical - and discretionary
CLO
Mission Statement
type of responsibilities of a business
Business Case
31. 1 Statement of the problem 2 Objectives 3 Description of potential solution 4 Project Time line 5 Project Metrics.
Diversification
Parts of Business Case
Dominant business
Cost Leadership
32. 1 Traditional Generation 2 Baby Boom Generation 3 Generation X 4 Generation Y
Core competences
HR functions that can be outsourced
Generational Difference
Planning
33. 1 Cost Benefit Analysis 2 Return On Investment 3 Breakeven Analysis 4 Financial Statement Analysis
Methodologies Of Operations
low-cost strategy
Financial Measures
Focus
34. 1 Preparation 2 Due Diligence 3 Planning integration of the business entities 4 Implementation - monitoring and measurement
type of responsibilities of a business
Business Case
Merger and Acquisition Process
Planning
35. 1 Age 2 Gender 3 Generational Difference 4 Geographic shifts in population 5 Ethnicity 6 Unskilled Labor 7 Non traditional labor force
Code of Ethics
Demographic Factors
bottom-up
Market fit
36. Special Purpose Acquisition Company. Empty-shell firms that promise to buy businesses with the proceeds of their initial public stock offerings.
Spin-off
SPAC
Agency
PESTEL
37. 1 Global Economy 2 Wage comparison 3 Trade Agreement 4 International Labor Law
primary activities of a business
Cross-sector diversification
International Factors
Demographic Factors
38. 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.
Controlling
Operations
Leveraged buyout (LBO)
Secondary Research
39. 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
Market development
Emergent Strategy
Outsourcing
international strategy
40. 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
top-down
to maximize profits
Cost Leadership
Blue ocean Strategy
41. 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
Economizing
Value Statement
STEEP
External Benchmarks
42. Sell more in existing markets - or enter new markets
bottom-up
to obtain profit growth
Value chain
Junk bond
43. Is part of an organization for which there is a distinct external market for goods or services that is different from another SBU
Value chain
Strategic business unit
to increase profitability
Strategic business management
44. primary activities and support activities
Environmental scanning
value creating operations in the value chain of operation
Secondary Research
Primary Research
45. The benefits that develop through the extension and application of corporate resources to a newly acquired company.
Emergent Strategy
types of competitive strategies for international businesses
Resources leverage
Junk bond
46. A participative approach to planning in which there is involvement at all levels; plans are developed at the lower levels of an organisation and funnelled up through consecutive levels until they reach top management - advantage:People are responsibl
Strategic Planning Phase
Strategy Development
Critical success factors
bottom-up
47. When a corporation is able to combine similar primary value chain activities.
Management fit
Five Forces
Strategies at three levels
Operational fit
48. 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"
Environmental Scanning
Focus
CLO
Descriptive Statistic
49. 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
Strategic business management
Related diversification
Blue ocean Strategy
50. 1 Interest Rates 2 Gross Domestic Product (GDP) 3 Consumer Price Index (CPI) 4 Disposable Income 5 Inflation
Strategic Groups
Economic Factors
to obtain profit growth
Leveraged buyout (LBO)