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. Those product features with which a organization must outperform the competition because they are particularly valued by a group of customers.






2. When a corporation can take synergistic advantage of relationships with suppliers and/or customers in making an acquisition.






3. 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.






4. Comparing similar functional firms in your industry






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






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






7. Private (nonpublic) corporations or partnerships that use their financial resources to engineer buyouts and acquisitions of other companies.






8. The categories of activities within and around an organization which together create a product or service.






9. 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






10. 1 Charts and graphs 2 Measures of central tendency 3 Measures of variation 4 Measures of association






11. 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






12. 1 Strategies are reviewed 2 Performance towards objective is measured 3 Corrective action is taken






13. 1 SWOT analysis and environmental scanning 2 Long term objectives 3 Strategies to achieve these objectives are defined






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






15. A value creating strategy that primary increases perceived value by increasing attractiveness of product






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






17. 1 Balance Scorecard






18. Comparing operations in totally unrelated industries






19. 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






20. 1 Cost Benefit Analysis 2 Return On Investment 3 Breakeven Analysis 4 Financial Statement Analysis






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






22. 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.






23. Value - Exploit - Rare - Imitate - Substitute






24. The decisions made and the direction provided for managing multiple business units under a single corporate umbrella.






25. 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






26. It refers to relocation of processes or functions from a home country to another country and it appeals to organization for cost saving.






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






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






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






30. 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






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






32. Is the set of internationalization links and relationships that are necessary to create a product or service.






33. 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.






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






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






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






37. It is simple and effective process for collecting information on the organization's current state. It answers four basic question.






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






39. 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.






40. Acquisition of another company upstream (supplier) or downstream (buyer) in the value chain of the same industry in which the corporation operates.






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






42. 1 Introduction 2 Growth 3 Maturity 4 Decline






43. 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






44. Often accompanied by backlogs and scheduling problems while the organization adjusts to increase demands. Policies - procedures and rules should begin to be formalized as organization needs increased structure during this phase to operate effectively






45. Is the means by which a strategy can be pursued.






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






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






48. Acquisition of a company in a different industry - but which employs a similar value chain.






49. 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.






50. 1 Preparation 2 Due Diligence 3 Planning integration of the business entities 4 Implementation - monitoring and measurement