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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. Is part of an organization for which there is a distinct external market for goods or services that is different from another SBU






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






3. 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.






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






5. 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"






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






7. Comparing similar functional firms in your industry






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






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






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






11. 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?






12. 1 Traditional Generation 2 Baby Boom Generation 3 Generation X 4 Generation Y






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






14. 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.






15. Comparing 1 operation in the firm with another






16. It refers to relocation of processes or functions from a home country to another country and it appeals to organization for cost saving.






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






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






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






20. 1 Financial 2 Human 3 Physical 4 Technological






21. Cut costs - add value - or increase prices






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






23. 1 Strategy Formulation 2 Strategy Development 3 Strategy Implementation 4 Strategy Evaluation






24. Risk associated with macro-economic forces.






25. Specific - Measurable - Attainable - Realistic - Timely






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






27. 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






28. 1 Introduction 2 Growth 3 Maturity 4 Decline






29. 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






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






31. 1 Age 2 Gender 3 Generational Difference 4 Geographic shifts in population 5 Ethnicity 6 Unskilled Labor 7 Non traditional labor force






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






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






34. 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






35. The central focus of the department is the provision of goods and services to the customer. Basically this department must ensure that the product/service is produced and delivered to the customer.






36. Quality of information and interpretation of it






37. Sell more in existing markets - or enter new markets






38. 1 Balance Scorecard






39. 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.






40. Comparing a the firms operations with a direct competitor






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






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






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






44. 1 SWOT analysis and environmental scanning 2 Long term objectives 3 Strategies to achieve these objectives are defined






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






46. 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.






47. They are often based on industry best practice.






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






49. 1 Planning 2 Organizing 3 Directing 4 Controlling






50. 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.







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