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






2. Quality of information and interpretation of it






3. 1 Attitudes towards career 2 Immigration 3 Occupational and industry skills 4 Recruitment 5 Unions 6 Unemployment 7 Turnover 8 Relocation






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






5. A plant or service department is moved to another country. Although separated geographically - the off shored entity remains part of the organization - and workers are still employees of the organization.






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






7. 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.






8. Not necessarily considered HR core function like benefits plan administration - payroll administration - and background checks - etc.






9. They are used to condense and summarize large quantities of data for quick understanding.






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






11. 1 Financial 2 Human 3 Physical 4 Technological






12. 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)






13. Risk associated with a particular business.






14. 1 Preparation 2 Due Diligence 3 Planning integration of the business entities 4 Implementation - monitoring and measurement






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






16. Ability to broaden a product line or a customer base achieved through an acquisition.






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






18. 1 Organizational Strategy 2 Business unit strategy 3 Functional Strategy






19. 1 Global Economy 2 Wage comparison 3 Trade Agreement 4 International Labor Law






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






21. 1 Charts and graphs 2 Measures of central tendency 3 Measures of variation 4 Measures of association






22. 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.






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






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






25. 1 Capacity 2 Standards 3 Scheduling 4 Inventory 5 Control






26. It can be defined as principles of conduct within an organization that guide decision making and behavior.






27. Economic - legal resp. - ethical - and discretionary






28. 1 The rule is proposed 2 Public comment is invited 3 The final rule is issued






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






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






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






32. 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






33. 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






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






35. Specific - Measurable - Attainable - Realistic - Timely






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






37. Sell more in existing markets - or enter new markets






38. 1 Cost Leadership 2 Differentiation 3 Focus






39. 1 Statement of the problem 2 Objectives 3 Description of potential solution 4 Project Time line 5 Project Metrics.






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






41. 1 Interest Rates 2 Gross Domestic Product (GDP) 3 Consumer Price Index (CPI) 4 Disposable Income 5 Inflation






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






43. 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






44. 1 Age 2 Gender 3 Generational Difference 4 Geographic shifts in population 5 Ethnicity 6 Unskilled Labor 7 Non traditional labor force






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






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






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






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






49. It is a systematic process of gathering and analyzing all relevant data about external opportunities (emerging marketplace - additional capabilities provided through new technology.) and threats (emerging competition - shifts in marketplaces. )






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







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