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






2. These objectives are generally achieved within 3 to 5 years. Establishing these objectives provides direction - synergy and aids in establishing guidelines for evaluation.






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






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






5. 1 Work Specialization 2 Departmentalization 3 Chain of Command 4 Centralization and Decentralization 5 Formalization






6. primary activities and support activities






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






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






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






10. Comparing operations in totally unrelated industries






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






12. 1 Cost Leadership 2 Differentiation 3 Focus






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






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






15. Serve the purpose similar to short term objectives but are completed in 1 to 3 years.






16. 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






17. Scheduling problems are largely resolved - and staffing and organizational culture begin to stabilize. Policies - procedures and rules are formalized and communicated to all employees. Training gains added emphasis in this phase to maintain flexibi






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






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






20. 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






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






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






23. 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






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






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






26. 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






27. 1 Vision and mission 2 Value Statement






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






29. 1 Short term objective 2 Action plan to achieve these objective 3 Allocating resources 4 Motivating employees to manage the plan.






30. 1 They can help to identify improvements in an organization's performance that can be attributed to the projects 2 They can suggest appropriate targets for improvement to be included in project objectives.






31. Comparing 1 operation in the firm with another






32. 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






33. Risk associated with a particular business.






34. 1 Capacity 2 Standards 3 Scheduling 4 Inventory 5 Control






35. 1 Age 2 Gender 3 Generational Difference 4 Geographic shifts in population 5 Ethnicity 6 Unskilled Labor 7 Non traditional labor force






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






37. The central focus of the department is the provision of goods and services to the customer. Basically this department must ensure that the product/service is produced and delivered to the customer.






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






39. 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






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






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






42. Risk associated with macro-economic forces.






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






44. 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.






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






46. 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






47. 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






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






49. 1. information systems 2. logistics 3. HR






50. 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






Can you answer 50 questions in 15 minutes?



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