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






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






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






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






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






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






7. Those product features with which a organization must outperform the competition because they are particularly valued by a group of customers.






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






9. 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"






10. The categories of activities within and around an organization which together create a product or service.






11. 1 Traditional Generation 2 Baby Boom Generation 3 Generation X 4 Generation Y






12. primary activities and support activities






13. 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. )






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






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






16. 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






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






18. 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?






19. 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






20. They are often based on industry best practice.






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






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






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






24. Comparing similar functional firms in your industry






25. Risk associated with a particular business.






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






27. Value - Exploit - Rare - Imitate - Substitute






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






29. 1 Planning 2 Organizing 3 Directing 4 Controlling






30. 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.






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






32. 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






33. 1. multinational 2. global 3. transnational






34. A strategy by which an organization peruses new product offerings and new markets.






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






36. A merger or acquisition where there is some similarity of industry and/or value chain between the corporation and the company it seeks to acquire.






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






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






40. 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.






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






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






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






44. 1 Cost Benefit Analysis 2 Return On Investment 3 Breakeven Analysis 4 Financial Statement Analysis






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






46. Comparing 1 operation in the firm with another






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






48. 1 SWOT analysis and environmental scanning 2 Long term objectives 3 Strategies to achieve these objectives are defined






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






50. 1 Balance Scorecard