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






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






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






4. 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






5. The organization of a set of businesses that share identical or very similar strategies or strategic challenges.






6. 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






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






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






9. It is a system of moral principles and values that establish appropriate conduct.






10. 1 Organizational Strategy 2 Business unit strategy 3 Functional Strategy






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






12. Comparing operations in totally unrelated industries






13. primary activities and support activities






14. 1 Interest Rates 2 Gross Domestic Product (GDP) 3 Consumer Price Index (CPI) 4 Disposable Income 5 Inflation






15. 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






16. 1 Advances in technology 2 Technological skills 3 The digital divide 4 Process changes






17. 1 Balance Scorecard






18. 1 Population 2 Sample 3 Normal Distribution






19. 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






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






21. 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.






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






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






25. 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. )






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






27. The categories of activities within and around an organization which together create a product or service.






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






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






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






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






32. 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.






33. 1 Work Specialization 2 Departmentalization 3 Chain of Command 4 Centralization and Decentralization 5 Formalization






34. Quality of information and interpretation of it






35. Value - Exploit - Rare - Imitate - Substitute






36. 1 Attitudes towards career 2 Immigration 3 Occupational and industry skills 4 Recruitment 5 Unions 6 Unemployment 7 Turnover 8 Relocation






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






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






39. 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.






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






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






42. 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?






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






44. 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






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






46. 1. talking to competitors - customers - and distributors 2. testing competitors products 3. view competitors exhibits at trade shows






47. 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






48. 1 Introduction 2 Growth 3 Maturity 4 Decline






49. The choices made through the 4 Ps : Product - Price - Place and Promotion are what makes a product or service unique. This is distinctive blend of marketing decision.






50. Risk associated with macro-economic forces.