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






2. 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. )






3. 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






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






5. 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.






6. 1 Interest Rates 2 Gross Domestic Product (GDP) 3 Consumer Price Index (CPI) 4 Disposable Income 5 Inflation






7. The resources and competences of an organization needed for it to survive and prosper.






8. 1 Balance Scorecard






9. 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.






10. 1 Preparation 2 Due Diligence 3 Planning integration of the business entities 4 Implementation - monitoring and measurement






11. 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






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






13. 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)






14. 1 Vision and mission 2 Value Statement






15. primary activities and support activities






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






17. They are used to condense and summarize large quantities of data for quick understanding.






18. Comparing operations in totally unrelated industries






19. 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.






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






21. They are often based on industry best practice.






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






23. Comparing 1 operation in the firm with another






24. 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






25. 1 Cost Leadership 2 Differentiation 3 Focus






26. A tool to help you think about the wider issues that have an impact on the industry or service area as a whole - taking five main categories into account: Socio-cultural - Technological - Economic - Environmental - Political






27. 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.






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






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






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






31. 1 Strategies are reviewed 2 Performance towards objective is measured 3 Corrective action is taken






32. Is concerned with the structures and systems of control by which managers are held accountable to those who have a legitimate stake an organization.






33. 1 Attitudes towards career 2 Immigration 3 Occupational and industry skills 4 Recruitment 5 Unions 6 Unemployment 7 Turnover 8 Relocation






34. 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






35. 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






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






37. Quality of information and interpretation of it






38. Comparing similar functional firms in your industry






39. A value creating strategy that creates more perceived value by primarily reducing costs






40. Value - Exploit - Rare - Imitate - Substitute






41. The organization relies on high energy and creativity. Attempts to develop products and services - decision may be made to use experiences staff so training is not an integral part of this phase. may meet or exceed the standard pay range to recruit






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






43. 1 Introduction 2 Growth 3 Maturity 4 Decline






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






45. 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.






46. These objectives are generally achieved within 3 to 5 years. Establishing these objectives provides direction - synergy and aids in establishing guidelines for evaluation.






47. 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






48. 1 Cost Benefit Analysis 2 Return On Investment 3 Breakeven Analysis 4 Financial Statement Analysis






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






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