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. 1 Financial 2 Human 3 Physical 4 Technological






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






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






4. 1 Cost Leadership 2 Differentiation 3 Focus






5. 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?






6. 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






7. 1 Traditional Generation 2 Baby Boom Generation 3 Generation X 4 Generation Y






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






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






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






11. Cut costs - add value - or increase prices






12. 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






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






14. When a corporation can take synergistic advantage of administrative and support activities of the value chain in making an acquisition.






15. The decisions made and the direction provided for managing multiple business units under a single corporate umbrella.






16. primary activities and support activities






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






18. 1 Introduction 2 Growth 3 Maturity 4 Decline






19. It describes an organizational challenge and possible alternative solutions - presenting evidence in support of a proposed solution. They are effective way to compete for limited resources.






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






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






22. It can be defined as principles of conduct within an organization that guide decision making and behavior.






23. Information systems with a charter to achieve competitive superiority.






24. 1 Attitudes towards career 2 Immigration 3 Occupational and industry skills 4 Recruitment 5 Unions 6 Unemployment 7 Turnover 8 Relocation






25. 1. improve bidding success 2. identify competitors key customers 3. identify expansion plans 4. improve understanding of competitors






26. Risk associated with macro-economic forces.






27. Independent & entrepreneurial - adopts a more flexible approach to their international operations - More sensitive & responsive to local environment






28. 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"






29. 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.






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






31. 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






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






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






34. They are often based on industry best practice.






35. 1 Balance Scorecard






36. 1 Age 2 Gender 3 Generational Difference 4 Geographic shifts in population 5 Ethnicity 6 Unskilled Labor 7 Non traditional labor force






37. 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. )






38. 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.






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






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






41. Comparing 1 operation in the firm with another






42. 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






43. Is concerned with the ways in which an organization exeeds its minimum obligations to stakeholders specified through regulation.






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






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






46. 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






47. 1 Statement of the problem 2 Objectives 3 Description of potential solution 4 Project Time line 5 Project Metrics.






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






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






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