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






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






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






4. 1 Organizational Strategy 2 Business unit strategy 3 Functional Strategy






5. 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






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






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






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






9. 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






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






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






12. 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






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






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






15. 1 Short term objective 2 Action plan to achieve these objective 3 Allocating resources 4 Motivating employees to manage the plan.






16. 1 Introduction 2 Growth 3 Maturity 4 Decline






17. Comparing 1 operation in the firm with another






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






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






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






21. 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.






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






23. 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






24. 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.






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






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






27. 1 Planning 2 Organizing 3 Directing 4 Controlling






28. 1 Vision and mission 2 Value Statement






29. 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






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






31. 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






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






33. Comparing operations in totally unrelated industries






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






35. 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






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






37. Cut costs - add value - or increase prices






38. 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)






39. Designing a structure to assist in goal accomplishment that effectively relates human and nonhuman resources to the tasks of enterprise.Eg : Designing an interview process.






40. 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






41. 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






42. These are the detailed steps a unit - department - or team will take in order to achieve the short term objectives.






43. It specifies what activities the organization intends to pursue and what course of management has charted for the future. It provides general outline of how the organization will achieve the vision. It includes who the company is - what the company






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






45. 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






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






47. Individuals or groups who depend on an organization to fulfill their own goals and on whom - in turn the organization depends.






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






49. 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.






50. 1 Balance Scorecard