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






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






3. 1 Demographic Factors 2 Economic Factors 3 Employment Factors 4 International Factors 5 Political Factors 6 Social Factors 7 Technological Factors






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






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






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






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






8. 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.






9. 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






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






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






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






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






14. Cut costs - add value - or increase prices






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






16. 1 Cost Benefit Analysis 2 Return On Investment 3 Breakeven Analysis 4 Financial Statement Analysis






17. 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






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






19. 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






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






21. Comparing operations in totally unrelated industries






22. 1 Balance Scorecard






23. 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. )






24. 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.






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






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






27. 1 Capacity 2 Standards 3 Scheduling 4 Inventory 5 Control






28. 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?






29. 1. choose a viable position on efficiency frontier 2. configure its internal ops to support the chosen position 3.ensure firm has the right orginizational structure in place to execute its strategy






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






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






32. 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.






33. 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






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






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






36. These strategies attempt to set the product or service apart form its competition by giving it unique characteristic that customers value and for which they will be willing to pay a premium price.






37. 1 Attitudes towards career 2 Immigration 3 Occupational and industry skills 4 Recruitment 5 Unions 6 Unemployment 7 Turnover 8 Relocation






38. 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






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






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






41. 1 Preparation 2 Due Diligence 3 Planning integration of the business entities 4 Implementation - monitoring and measurement






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






43. 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






44. 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






45. 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.






46. 1 Introduction 2 Growth 3 Maturity 4 Decline






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






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






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






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