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






2. Risk associated with a particular business.






3. Ensuring that everything is carried out according to the plan. Eg: Measuring recruiting efforts and effectiveness.






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






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






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






7. 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"






8. 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.






9. 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?






10. The organization of a set of businesses that share identical or very similar strategies or strategic challenges.






11. 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






12. 1 Population 2 Sample 3 Normal Distribution






13. 1 Age 2 Gender 3 Generational Difference 4 Geographic shifts in population 5 Ethnicity 6 Unskilled Labor 7 Non traditional labor force






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






16. 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






17. Comparing a the firms operations with a direct competitor






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






19. 1 SWOT analysis and environmental scanning 2 Long term objectives 3 Strategies to achieve these objectives are defined






20. It describes what is important to an organization and often dictate employee behavior. They are the heart of the culture of an organization.






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






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






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






24. 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






25. 1 Traditional Generation 2 Baby Boom Generation 3 Generation X 4 Generation Y






26. 1 Experiments 2 Pilot Projects 3 Surveys/questionnaires 4 Interviews (exit - panel - individual) 5 Focus group 6 Direct observation 7 Testing






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






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






29. 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






30. 1 Cost Benefit Analysis 2 Return On Investment 3 Breakeven Analysis 4 Financial Statement Analysis






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






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






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






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






35. Quality of information and interpretation of it






36. 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






37. 1 Vision and mission 2 Value Statement






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






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






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






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






42. 1. multinational 2. global 3. transnational






43. 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






44. Specific - Measurable - Attainable - Realistic - Timely






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






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






47. 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.






48. 1 Cost Leadership 2 Differentiation 3 Focus






49. 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.






50. 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