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. They represent milestones that must be achieved in order to reach the long term objectives. They are usually within 6 months to a year.






2. 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






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






4. 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






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






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






7. 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






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






9. 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






10. 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.






11. 1 Interest Rates 2 Gross Domestic Product (GDP) 3 Consumer Price Index (CPI) 4 Disposable Income 5 Inflation






12. 1 Introduction 2 Growth 3 Maturity 4 Decline






13. 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






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






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






16. 1 Cost Benefit Analysis 2 Return On Investment 3 Breakeven Analysis 4 Financial Statement Analysis






17. 1 The rule is proposed 2 Public comment is invited 3 The final rule is issued






18. 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.






19. 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.






20. A company in which 70-95% of revenue comes from a single business






21. Value - Exploit - Rare - Imitate - Substitute






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






23. 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.






24. 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.






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. 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






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






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






29. 1 Global Economy 2 Wage comparison 3 Trade Agreement 4 International Labor Law






30. It uses data already gathered by others and reported in various sources.






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






32. 1 Traditional Generation 2 Baby Boom Generation 3 Generation X 4 Generation Y






33. 1. a graph demonstrating the different positions a firm can adopt in creating value 2. compares value and differentiation (Y) versus high cost to low cost (x)






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






35. 1 Preparation 2 Due Diligence 3 Planning integration of the business entities 4 Implementation - monitoring and measurement






36. 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






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






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






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






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






41. 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.






42. 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






43. 1 Financial 2 Human 3 Physical 4 Technological






44. 1 Population 2 Sample 3 Normal Distribution






45. 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.






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






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






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






49. Business remain separate entities but may appear to outsiders as one entity. Commonly formed through the use of outsourcing.






50. Organization that follow this approach are not competing in an established market. They see themselves as a creating entirely new value. This strategy values innovation - creativity and rule breaking.