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. 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






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






3. 1. multinational 2. global 3. transnational






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






5. When a corporation is able to combine similar primary value chain activities.






6. 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






7. 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?






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






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






10. 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.






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






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






13. 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






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






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






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






18. primary activities and support activities






19. 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.






20. 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






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






22. Risk associated with a particular business.






23. 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






24. 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






25. 1 Interest Rates 2 Gross Domestic Product (GDP) 3 Consumer Price Index (CPI) 4 Disposable Income 5 Inflation






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






27. 1 Work Specialization 2 Departmentalization 3 Chain of Command 4 Centralization and Decentralization 5 Formalization






28. 1 Age 2 Gender 3 Generational Difference 4 Geographic shifts in population 5 Ethnicity 6 Unskilled Labor 7 Non traditional labor force






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






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






31. 1 Cost Benefit Analysis 2 Return On Investment 3 Breakeven Analysis 4 Financial Statement Analysis






32. 1 Advances in technology 2 Technological skills 3 The digital divide 4 Process changes






33. They are often based on industry best practice.






34. 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.






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






36. 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.






37. 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






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






39. 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.






40. 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






41. 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






42. 1 Population 2 Sample 3 Normal Distribution






43. Corporation that owns the majority of voting shares of other companies - but that allows the other companies to operate as independent entities.






44. 1. improve bidding success 2. identify competitors key customers 3. identify expansion plans 4. improve understanding of competitors






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






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






47. 1 Traditional Generation 2 Baby Boom Generation 3 Generation X 4 Generation Y






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






49. Cut costs - add value - or increase prices






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