SUBJECTS
|
BROWSE
|
CAREER CENTER
|
POPULAR
|
JOIN
|
LOGIN
Business Skills
|
Soft Skills
|
Basic Literacy
|
Certifications
About
|
Help
|
Privacy
|
Terms
|
Email
Search
Test your basic knowledge |
Business Strategy
Start Test
Study First
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. Value - Exploit - Rare - Imitate - Substitute
Outsourcing
generic benchmarking
skills businesses need to create competitive advantage
Action Plan
2. They are often based on industry best practice.
Outsourcing
Ethics
Extended Organization
External Benchmarks
3. The political - economic - social - technological - environmental - and legal dimensions of an organization's external environment.
PESTEL
value creating operations in the value chain of operation
Environmental Scanning
Parts of Business Case
4. A strategy by which an organization peruses new product offerings and new markets.
Strategic business unit
Diversification
Spin-off
Long term Objectives
5. Internal Benchmarks establish levels of current performance of a particular tasks - such as cost per hire.
Value network
Internal Benchmarks
International Factors
Business strategy
6. Is the set of internationalization links and relationships that are necessary to create a product or service.
Value network
Performance Measures
Strategic business management
Value Statement
7. A strategy by which an organization takes increased share of its existing markets with its existing product range.
Code of Ethics
Market Penetrati
top-down
key to success in strategic planning
8. 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.
Primary Research
Scenarios
Critical success factors
Off shoring
9. It can be defined as principles of conduct within an organization that guide decision making and behavior.
Differentiation
Code of Ethics
Dominant business
International Factors
10. It is a vivid - guiding image of the organization's desired future. It is the ultimate picture of what leadership envisions for the organization.
Vision Statement
Differentiation
Strategy Implementation
to increase profitability
11. Refers to an intensive investigation of all factors surrounding a business decision to ensure that all risks are understood.
CLO
Economic Factors
Due Diligence
Organization Structure
12. 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
Introduction
Management Functions
Off shoring
Long term Objectives
13. 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
mentality of MNC
Business Case
Stakeholders
Marketing Mix
14. The skills and abilities by which resources are deployed through an organization's activities and processes such as to achieve competitive advantage in ways that others cannot imitate or obtain.
Core competences
Downscoping
Inferential Statistic
Conglomerate
15. 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.
SWOT Analysis
Differentiation
Environmental scanning
to increase profitability
16. A process and goal: the process: choices regarding acquiring and using scared resources: the goal: maintain and achieving a unique and valuable position in the international market
Strategic business unit
international strategy
Strategy Development
Stakeholder mapping
17. 1 Strategy Formulation 2 Strategy Development 3 Strategy Implementation 4 Strategy Evaluation
Strategic Planning Phase
Descriptive Statistic
to maximize profits
Strategic Planning
18. Comparing 1 operation in the firm with another
Secondary Research
internal benchmarking
Primary Research
Secondary Research
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
Action Plan
Corporate governance
Environmental scanning
Merger and Acquisition Process
20. It is a system of moral principles and values that establish appropriate conduct.
international strategy
Performance Measures
Ethics
Growth
21. Comparing operations in totally unrelated industries
Related diversification
Primary Research
generic benchmarking
Stakeholders
22. Risk associated with macro-economic forces.
Secondary Research
Organization Structure
Systematic risk
Market Penetrati
23. 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"
SPAC
Due Diligence
Marketing Mix
CLO
24. 1 SWOT analysis and environmental scanning 2 Long term objectives 3 Strategies to achieve these objectives are defined
Cross-sector diversification
Financial Measures
Strategy Development
Strategic business unit (SBU)
25. Sell more in existing markets - or enter new markets
mentality of MNC
to obtain profit growth
The law making Process
efficiency frontier
26. 1 Advances in technology 2 Technological skills 3 The digital divide 4 Process changes
Leveraged buyout (LBO)
Technological Factors
Diversification
Extended Organization
27. 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
bottom-up
Market development
Code of Ethics
The law making Process
28. 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
HR functions that can be outsourced
Strategic Planning Phase
STEEP
international strategy
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
Growth
external benchmarking
Maturity
Primary Research
30. Corporation that owns the majority of voting shares of other companies - but that allows the other companies to operate as independent entities.
Holding company
generic benchmarking
Business strategy
Takeover
31. The organization of a set of businesses that share identical or very similar strategies or strategic challenges.
Management Functions
Strategic business unit (SBU)
Operations
Systematic risk
32. 1 Cost Benefit Analysis 2 Return On Investment 3 Breakeven Analysis 4 Financial Statement Analysis
Financial Measures
Value Statement
Cultural web
Economizing
33. Is part of an organization for which there is a distinct external market for goods or services that is different from another SBU
internal benchmarking
Organization Structure
Strategic business unit
To achieve competitive advantage and superior profitability
34. High-yield debt that is rated below investment grade at the time of purchase. These bonds have a higher risk of default - but typically pay higher yields than better quality bonds in order to make them attractive to investors. Typically issued by bu
Junk bond
Vertical diversification
Value network
Takeover
35. 1 Global Economy 2 Wage comparison 3 Trade Agreement 4 International Labor Law
type of responsibilities of a business
Strategic Information Systems
International Factors
Cultural web
36. Is the means by which a strategy can be pursued.
Environmental scanning
External Benchmarks
Strategic method
Resources
37. 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.
skills businesses need to create competitive advantage
Environmental Scanning
Critical success factors
Takeover
38. 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
types of competitive strategies for international businesses
Cost Leadership
Organization Structure
Horizontal diversification
39. 1 Population 2 Sample 3 Normal Distribution
Inferential Statistic
Strategic Information Systems
International Factors
Stakeholders
40. Not necessarily considered HR core function like benefits plan administration - payroll administration - and background checks - etc.
HR functions that can be outsourced
Corporate strategy
Technological Factors
Primary Research
41. Engaging in those activities that ensure effective operation - including leadership and motivation pf employee action towards goals. eg : Scheduling and conducting interview.
Technological Factors
Planning
Directing
Dominant business
42. 1 Short term objective 2 Action plan to achieve these objective 3 Allocating resources 4 Motivating employees to manage the plan.
Code of Ethics
Parts of Business Case
Value chain
Strategy Implementation
43. A company in which 70-95% of revenue comes from a single business
Internal Benchmarks
Strategic Information Systems
Dominant business
Decline
44. 1 Traditional Generation 2 Baby Boom Generation 3 Generation X 4 Generation Y
Strategic Planning Phase
Generational Difference
Stakeholders
key to success in strategic planning
45. When a corporation can take synergistic advantage of administrative and support activities of the value chain in making an acquisition.
efficiency frontier
SMART Goals
Primary Research
Management fit
46. 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
Stakeholder mapping
Holding company
Mission Statement
Ethical Behavior
47. 1 Interest Rates 2 Gross Domestic Product (GDP) 3 Consumer Price Index (CPI) 4 Disposable Income 5 Inflation
primary activities of a business
Spin-off
Ethics
Economic Factors
48. 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
Business Case
skills businesses need to create competitive advantage
Private equity firm
Strategic method
49. These objectives are generally achieved within 3 to 5 years. Establishing these objectives provides direction - synergy and aids in establishing guidelines for evaluation.
Business model
Internal Benchmarks
Long term Objectives
Business Case
50. 1 Preparation 2 Due Diligence 3 Planning integration of the business entities 4 Implementation - monitoring and measurement
Demographic Factors
Operational fit
Merger and Acquisition Process
Value network