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. 1 Introduction 2 Growth 3 Maturity 4 Decline






2. 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.






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 underlying principles that guide an organization's strategy






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






6. Quality of information and interpretation of it






7. 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.






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






9. 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.






10. Comparing similar functional firms in your industry






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






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






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






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






15. Cut costs - add value - or increase prices






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






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






18. 1 Preparation 2 Due Diligence 3 Planning integration of the business entities 4 Implementation - monitoring and measurement






19. The types of decisions made and direction created for a single business






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






21. 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






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






23. 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






24. 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






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






26. It is based on numeric data that is analyzed with statistic method. 1 Descriptive Statistic 2 Inferential Statistic






27. 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






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






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






30. 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?






31. 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.






32. 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






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






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






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






36. 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






37. 1 Historical Data (HR records - census records) 2 Benchmarking and best practices reports 3 Purchased Data ( Gallup or Roper data) 4 Professional Journals - Books - and other media 5 Secondhand reports (grapevine reports)






38. Is concerned with the ways in which an organization exeeds its minimum obligations to stakeholders specified through regulation.






39. 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






40. Comparing operations in totally unrelated industries






41. 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






42. It is simple and effective process for collecting information on the organization's current state. It answers four basic question.






43. 1 Strategies are reviewed 2 Performance towards objective is measured 3 Corrective action is taken






44. 1 Organizational Strategy 2 Business unit strategy 3 Functional Strategy






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






46. 1 Demographic Factors 2 Economic Factors 3 Employment Factors 4 International Factors 5 Political Factors 6 Social Factors 7 Technological Factors






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






48. primary activities and support activities






49. When a corporation can take synergistic advantage of relationships with suppliers and/or customers in making an acquisition.






50. 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.