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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. primary activities and support activities






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






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






4. Comparing 1 operation in the firm with another






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






6. Value - Exploit - Rare - Imitate - Substitute






7. When a corporation reduces its level of diversification and strategically refocuses on core businesses where the synergies of scope - economizing - and leverage are more evident and more easily realized.






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






10. 1 Demographic Factors 2 Economic Factors 3 Employment Factors 4 International Factors 5 Political Factors 6 Social Factors 7 Technological Factors






11. These strategy requires that organizations focus on a particular buyer group - segment of the product line or geographical market within an industry. It is build around serving particular target to the exclusion of others.






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






13. Collateralized Loan Obligation. Large pool of bank loans bundled together by financial services firms and sold off to investors in slices - with the goal to spread default risk "an inch deep and a mile wide"






14. 1 Vision and mission 2 Value Statement






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






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






17. 1 Strategy Formulation 2 Strategy Development 3 Strategy Implementation 4 Strategy Evaluation






18. It is a vivid - guiding image of the organization's desired future. It is the ultimate picture of what leadership envisions for the organization.






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






20. 1. multinational 2. global 3. transnational






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






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






23. Where an individual (such as a corporate officer) acts on behalf of someone else (such as a shareholder)






24. 1 Introduction 2 Growth 3 Maturity 4 Decline






25. 1 SWOT analysis and environmental scanning 2 Long term objectives 3 Strategies to achieve these objectives are defined






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






27. 1 Population 2 Sample 3 Normal Distribution






28. 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






29. 1 Capacity 2 Standards 3 Scheduling 4 Inventory 5 Control






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






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






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






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






34. 1 Balance Scorecard






35. 1 Experiments 2 Pilot Projects 3 Surveys/questionnaires 4 Interviews (exit - panel - individual) 5 Focus group 6 Direct observation 7 Testing






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






37. 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.






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






39. 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






40. 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






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






42. 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






43. 1 Interest Rates 2 Gross Domestic Product (GDP) 3 Consumer Price Index (CPI) 4 Disposable Income 5 Inflation






44. 1 Cost Leadership 2 Differentiation 3 Focus






45. Risk associated with macro-economic forces.






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






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






48. 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






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






50. 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







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