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






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






3. 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






4. 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






5. It involves data that is gathered firsthand for the specific evaluation being conduced.






6. 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.






7. 1. information systems 2. logistics 3. HR






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






9. The benefits that develop through the extension and application of corporate resources to a newly acquired company.






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






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






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






13. Processes and activities used to formulate HR objectives - practices - and policies.






14. Risk associated with a particular business.






15. 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






16. It specifies what activities the organization intends to pursue and what course of management has charted for the future. It provides general outline of how the organization will achieve the vision. It includes who the company is - what the company






17. 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






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






19. Risk associated with macro-economic forces.






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






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






22. 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






23. 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.






24. Value - Exploit - Rare - Imitate - Substitute






25. 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.






26. Individuals or groups who depend on an organization to fulfill their own goals and on whom - in turn the organization depends.






27. 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






28. 1 Planning 2 Organizing 3 Directing 4 Controlling






29. When a corporation can take synergistic advantage of administrative and support activities of the value chain in making an acquisition.






30. Cut costs - add value - or increase prices






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






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






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






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






35. 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.






36. Quality of information and interpretation of it






37. 1 SWOT analysis and environmental scanning 2 Long term objectives 3 Strategies to achieve these objectives are defined






38. 1 Advances in technology 2 Technological skills 3 The digital divide 4 Process changes






39. 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






40. 1 Preparation 2 Due Diligence 3 Planning integration of the business entities 4 Implementation - monitoring and measurement






41. 1 Short term objective 2 Action plan to achieve these objective 3 Allocating resources 4 Motivating employees to manage the plan.






42. 1 Statement of the problem 2 Objectives 3 Description of potential solution 4 Project Time line 5 Project Metrics.






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






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






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






46. A corporation that owns a large number of businesses that are different sizes and operate in different industry sectors.






47. 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)






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






49. 1. multinational 2. global 3. transnational






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