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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. 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






2. 1 Global Economy 2 Wage comparison 3 Trade Agreement 4 International Labor Law






3. 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






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






5. Processes and activities used to formulate HR objectives - practices - and policies.






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






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






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






9. Comparing a the firms operations with a direct competitor






10. 1 Vision and mission 2 Value Statement






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






12. Cut costs - add value - or increase prices






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






15. A process where a company is bought primarily using debt. Typically engineered by management of the company - or by private equity firms.






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






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






18. 1 Statement of the problem 2 Objectives 3 Description of potential solution 4 Project Time line 5 Project Metrics.






19. 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.






20. 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.






21. Value - Exploit - Rare - Imitate - Substitute






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






23. 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






24. primary activities and support activities






25. 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. )






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






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






28. 1 Strategy Formulation 2 Strategy Development 3 Strategy Implementation 4 Strategy Evaluation






29. 1 Cost Benefit Analysis 2 Return On Investment 3 Breakeven Analysis 4 Financial Statement Analysis






30. 1 Financial 2 Human 3 Physical 4 Technological






31. 1 Advances in technology 2 Technological skills 3 The digital divide 4 Process changes






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






33. 1 Balance Scorecard






34. 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






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






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






37. 1 Traditional Generation 2 Baby Boom Generation 3 Generation X 4 Generation Y






38. 1 The rule is proposed 2 Public comment is invited 3 The final rule is issued






39. 1 Age 2 Gender 3 Generational Difference 4 Geographic shifts in population 5 Ethnicity 6 Unskilled Labor 7 Non traditional labor force






40. 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






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






42. 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?






43. 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.






44. 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.






45. 1 Organizational Strategy 2 Business unit strategy 3 Functional Strategy






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






47. 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






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






49. 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






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