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. It is simple and effective process for collecting information on the organization's current state. It answers four basic question.






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






3. 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.






4. 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.






5. 1 Traditional Generation 2 Baby Boom Generation 3 Generation X 4 Generation Y






6. 1 Strategies are reviewed 2 Performance towards objective is measured 3 Corrective action is taken






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






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






9. Comparing operations in totally unrelated industries






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






11. 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.






12. The types of decisions made and direction created for a single business






13. 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.






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






15. 1 Global Economy 2 Wage comparison 3 Trade Agreement 4 International Labor Law






16. 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.






17. 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






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






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






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






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






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






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






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






25. 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






26. It describes a project in detail and shows how it will contribute value to the organization and provides sufficient information about how the project will be designed - implemented - and measured to enable the organization's leaders to make informe






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






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






29. 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






30. 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.






31. When a corporation enters a new business in a different industry from that in which it currently operates and does not expect to achieve any value chain synergies through the combination.






32. 1 Introduction 2 Growth 3 Maturity 4 Decline






33. 1. multinational 2. global 3. transnational






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






35. 1 The rule is proposed 2 Public comment is invited 3 The final rule is issued






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






37. 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?






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






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






40. Special Purpose Acquisition Company. Empty-shell firms that promise to buy businesses with the proceeds of their initial public stock offerings.






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






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






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






44. 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)






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






46. 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






47. Ensure that organization's strategy and operations are consistent with each other






48. It describes what is important to an organization and often dictate employee behavior. They are the heart of the culture of an organization.






49. 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






50. 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