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. 1 Advances in technology 2 Technological skills 3 The digital divide 4 Process changes






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






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






4. 1 Financial 2 Human 3 Physical 4 Technological






5. 1 Vision and mission 2 Value Statement






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






7. Comparing a the firms operations with a direct competitor






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






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






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






11. The skills and abilities by which resources are deployed through an organization's activities and processes such as to achieve competitive advantage in ways that others cannot imitate or obtain.






12. 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






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






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






15. It is the process that involves a systematic survey and interruption of relevant data to identify external opportunities and threats and to assess how these factors affect the organization currently and how they are likely to affect the organization






16. 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?






17. 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.






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






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






20. Detailed and plausible views of how the business environment of an organization might develop in the future based on key drivers for change about which there is a high level of uncertainty






21. Risk associated with macro-economic forces.






22. These objectives are generally achieved within 3 to 5 years. Establishing these objectives provides direction - synergy and aids in establishing guidelines for evaluation.






23. Cost savings accomplished by operating combined companies more efficiently.






24. 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






25. The political - economic - social - technological - environmental - and legal dimensions of an organization's external environment.






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






27. 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"






28. Is concerned with the ways in which an organization exeeds its minimum obligations to stakeholders specified through regulation.






29. 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. )






30. 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






31. Value - Exploit - Rare - Imitate - Substitute






32. 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






33. Ensuring that everything is carried out according to the plan. Eg: Measuring recruiting efforts and effectiveness.






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






35. 1 Age 2 Gender 3 Generational Difference 4 Geographic shifts in population 5 Ethnicity 6 Unskilled Labor 7 Non traditional labor force






36. Studying the future and arranging the means for dealing with it - which encompass forecasting - selling goals - and determining actions. eg: Forecasting future staffing needs.






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






38. A company in which 70-95% of revenue comes from a single business






39. High-yield debt that is rated below investment grade at the time of purchase. These bonds have a higher risk of default - but typically pay higher yields than better quality bonds in order to make them attractive to investors. Typically issued by bu






40. 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.






41. Quality of information and interpretation of it






42. 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






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






44. 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.






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






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






47. Views the world as its unit of analysis - Plants are built to provide local marketing advantages - recognizes the importance of being flexible at the country-level operations - more responsive to local needs






48. 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






49. 1 Planning 2 Organizing 3 Directing 4 Controlling






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