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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. Independent & entrepreneurial - adopts a more flexible approach to their international operations - More sensitive & responsive to local environment
Planning
Differentiation
mentality of a MNC manager
Long term Objectives
2. When a corporation can take synergistic advantage of relationships with suppliers and/or customers in making an acquisition.
Market fit
Unrelated diversification
SWOT Analysis
Value network
3. 1. multinational 2. global 3. transnational
types of competitive strategies for international businesses
Diversification
bottom-up
Scope
4. 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.
Cross-sector diversification
Merger and Acquisition Process
efficiency frontier
Takeover
5. 1 SWOT analysis and environmental scanning 2 Long term objectives 3 Strategies to achieve these objectives are defined
external benchmarking
Off shoring
Strategy Development
Downscoping
6. Describes the structure of product - service - and information flows and the role of participating parties.
Business model
External Benchmarks
Porters Competitive Strategies
Merger and Acquisition Process
7. 1 Organizational Strategy 2 Business unit strategy 3 Functional Strategy
Primary Research
Leveraged buyout (LBO)
Introduction
Strategies at three levels
8. Processes and activities used to formulate HR objectives - practices - and policies.
Secondary Research
Strategic business management
Cultural web
Business strategy
9. The political - economic - social - technological - environmental - and legal dimensions of an organization's external environment.
efficiency frontier
PESTEL
Secondary Research
Strategy Formulation
10. 1 Cost Benefit Analysis 2 Return On Investment 3 Breakeven Analysis 4 Financial Statement Analysis
Vision Statement
Inferential Statistic
Financial Measures
Internal Benchmarks
11. Studying the future and arranging the means for dealing with it - which encompass forecasting - selling goals - and determining actions. eg: Forecasting future staffing needs.
Horizontal diversification
type of responsibilities of a business
Strategic Groups
Planning
12. 1 Advances in technology 2 Technological skills 3 The digital divide 4 Process changes
Five Forces
functional benchmarking
Technological Factors
Business Life Cycle Phases
13. 1 The rule is proposed 2 Public comment is invited 3 The final rule is issued
Long term Objectives
Scope
The law making Process
Growth
14. Sell more in existing markets - or enter new markets
bottom-up
Merger and Acquisition Process
to obtain profit growth
To achieve competitive advantage and superior profitability
15. Is the means by which a strategy can be pursued.
Economic Factors
Strategic method
Planning
Downscoping
16. 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
skills businesses need to create competitive advantage
Maturity
Leveraged buyout (LBO)
Business strategy
17. Acquisition of a company that operates in the same industry using the same value chain.
Descriptive Statistic
Generational Difference
Horizontal diversification
Vertical diversification
18. 1 Balance Scorecard
HR functions that can be outsourced
Performance Measures
Porters Competitive Strategies
Strategy Formulation
19. Comparing a the firms operations with a direct competitor
Business Case
external benchmarking
Strategic business unit (SBU)
Demographic Factors
20. 1. R&D 2. production 3. marketing and sales 4. customer service
Cross-sector diversification
primary activities of a business
Corporate governance
Stakeholders
21. Where an individual (such as a corporate officer) acts on behalf of someone else (such as a shareholder)
Mid term Objectives
Agency
type of responsibilities of a business
low-cost strategy
22. These objectives are generally achieved within 3 to 5 years. Establishing these objectives provides direction - synergy and aids in establishing guidelines for evaluation.
Long term Objectives
Diversification
Market development
Downscoping
23. Ability to broaden a product line or a customer base achieved through an acquisition.
Scope
Stakeholder mapping
support activities of a business
mentality of MNC
24. The decisions made and the direction provided for managing multiple business units under a single corporate umbrella.
Financial Measures
Corporate social responsibility
Corporate strategy
mentality of MNC
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.
Outsourcing
Primary Research
Emergent Strategy
Spin-off
26. The benefits that develop through the extension and application of corporate resources to a newly acquired company.
Resources leverage
Ethics
Strategic Planning
Value network
27. 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.
Business Case
Stakeholder mapping
Strategy Formulation
efficiency frontier
28. 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.
Business Life Cycle Phases
Value chain
Blue ocean Strategy
Extended Organization
29. 1 Charts and graphs 2 Measures of central tendency 3 Measures of variation 4 Measures of association
Descriptive Statistic
Vertical diversification
Management fit
SMART Goals
30. 1. improve bidding success 2. identify competitors key customers 3. identify expansion plans 4. improve understanding of competitors
Purpose of benchmarks
Private equity firm
Off shoring
benefits of competitor intelligence
31. 1 Preparation 2 Due Diligence 3 Planning integration of the business entities 4 Implementation - monitoring and measurement
Due Diligence
Strategy Formulation
benefits of competitor intelligence
Merger and Acquisition Process
32. 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
Introduction
Descriptive Statistic
Leveraged buyout (LBO)
Extended Organization
33. Refers to an intensive investigation of all factors surrounding a business decision to ensure that all risks are understood.
Differentiation
SWOT Analysis
Leveraged buyout (LBO)
Due Diligence
34. Quality of information and interpretation of it
key to success in strategic planning
Maturity
Strategic Planning
Business model
35. 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.
Primary Research
Related diversification
Corporate social responsibility
Blue ocean Strategy
36. It is a system of moral principles and values that establish appropriate conduct.
key to success in strategic planning
Ethics
Methodologies Of Operations
Strategic business unit
37. Risk associated with macro-economic forces.
Systematic risk
Extended Organization
Code of Ethics
Financial Measures
38. 1. a graph demonstrating the different positions a firm can adopt in creating value 2. compares value and differentiation (Y) versus high cost to low cost (x)
efficiency frontier
Maturity
mentality of MNC
Outsourcing
39. Specific - Measurable - Attainable - Realistic - Timely
Unsystematic risk
SMART Goals
Growth
Strategic Planning
40. 1 Interest Rates 2 Gross Domestic Product (GDP) 3 Consumer Price Index (CPI) 4 Disposable Income 5 Inflation
Economic Factors
Merger and Acquisition Process
mentality of MNC
External Benchmarks
41. A strategy by which an organisation offers existing products to new markets.
Market development
Strategic business unit
Economizing
Dominant business
42. 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.
Strategic Groups
Parts of Business Case
Environmental Scanning
Unrelated diversification
43. Business remain separate entities but may appear to outsiders as one entity. Commonly formed through the use of outsourcing.
type of responsibilities of a business
International Factors
Extended Organization
Strategic business management
44. 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
Spin-off
internal benchmarking
Introduction
Strategic capability
45. It is simple and effective process for collecting information on the organization's current state. It answers four basic question.
to maximize profits
Horizontal diversification
SWOT Analysis
Business Case
46. Is part of an organization for which there is a distinct external market for goods or services that is different from another SBU
types of competitive strategies for international businesses
Strategic business unit
Differentiation
Business Life Cycle Phases
47. They are used to condense and summarize large quantities of data for quick understanding.
Primary Research
Environmental Scanning
Descriptive Statistic
Leveraged buyout (LBO)
48. 1 Short term objective 2 Action plan to achieve these objective 3 Allocating resources 4 Motivating employees to manage the plan.
Mission Statement
Value Statement
Strategy Implementation
support activities of a business
49. 1 Financial 2 Human 3 Physical 4 Technological
Horizontal diversification
Resources
Off shoring
Strategy Formulation
50. 1 Age 2 Gender 3 Generational Difference 4 Geographic shifts in population 5 Ethnicity 6 Unskilled Labor 7 Non traditional labor force
CLO
Demographic Factors
HR functions that can be outsourced
internal benchmarking