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. A strategy by which an organization takes increased share of its existing markets with its existing product range.






2. 1 Charts and graphs 2 Measures of central tendency 3 Measures of variation 4 Measures of association






3. New ideas should not be dismissed simply because they originated at a grassroots level. Business innovations developed under these circumstances will create new objectives or modify existing ones and create an overlay of new direction compared to wha






4. 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






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






6. Specific - Measurable - Attainable - Realistic - Timely






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






8. 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






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






10. primary activities and support activities






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. These strategies attempt to set the product or service apart form its competition by giving it unique characteristic that customers value and for which they will be willing to pay a premium price.






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






14. 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






15. 1 The rule is proposed 2 Public comment is invited 3 The final rule is issued






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






17. 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"






18. 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






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






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






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






22. 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






23. 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






24. Value - Exploit - Rare - Imitate - Substitute






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






26. 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






27. 1 Traditional Generation 2 Baby Boom Generation 3 Generation X 4 Generation Y






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






29. Is the means by which a strategy can be pursued.






30. 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. )






31. Ensure that organization's strategy and operations are consistent with each other






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






33. 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.






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






35. 1 Organizational Strategy 2 Business unit strategy 3 Functional Strategy






36. Comparing similar functional firms in your industry






37. Risk associated with a particular business.






38. 1 Experiments 2 Pilot Projects 3 Surveys/questionnaires 4 Interviews (exit - panel - individual) 5 Focus group 6 Direct observation 7 Testing






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






40. 1 Cost Benefit Analysis 2 Return On Investment 3 Breakeven Analysis 4 Financial Statement Analysis






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






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






43. A process or function previously performed by an organization is transferred to a separate entity. The workers now performing this function are not employees of the organization but they are employees of entity to whom the work is given.






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






45. 1 Demographic Factors 2 Economic Factors 3 Employment Factors 4 International Factors 5 Political Factors 6 Social Factors 7 Technological Factors






46. 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.






47. 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






48. 1 Attitudes towards career 2 Immigration 3 Occupational and industry skills 4 Recruitment 5 Unions 6 Unemployment 7 Turnover 8 Relocation






49. It is a vivid - guiding image of the organization's desired future. It is the ultimate picture of what leadership envisions for the organization.






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