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






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






3. Risk associated with macro-economic forces.






4. 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






5. 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






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






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






8. It refers to relocation of processes or functions from a home country to another country and it appeals to organization for cost saving.






9. 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.






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






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






12. Comparing operations in totally unrelated industries






13. Comparing a the firms operations with a direct competitor






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






15. 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






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






17. 1 Planning 2 Organizing 3 Directing 4 Controlling






18. 1 Work Specialization 2 Departmentalization 3 Chain of Command 4 Centralization and Decentralization 5 Formalization






19. 1 Short term objective 2 Action plan to achieve these objective 3 Allocating resources 4 Motivating employees to manage the plan.






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






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






22. Risk associated with a particular business.






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






24. Shows the behavioral - physical and symbolic manifestations of a culture that inform and are informed by the taken-for-granted assumptions - or paradigm - of an organisation






25. 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






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






27. 1. talking to competitors - customers - and distributors 2. testing competitors products 3. view competitors exhibits at trade shows






28. A process where a company is bought primarily using debt. Typically engineered by management of the company - or by private equity firms.






29. Comparing 1 operation in the firm with another






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






31. 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






32. 1. a graph demonstrating the different positions a firm can adopt in creating value 2. compares value and differentiation (Y) versus high cost to low cost (x)






33. 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. )






34. 1 Global Economy 2 Wage comparison 3 Trade Agreement 4 International Labor Law






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






36. 1 Preparation 2 Due Diligence 3 Planning integration of the business entities 4 Implementation - monitoring and measurement






37. They are often based on industry best practice.






38. 1 Cost Benefit Analysis 2 Return On Investment 3 Breakeven Analysis 4 Financial Statement Analysis






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






40. 1 Balance Scorecard






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






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






43. 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.






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






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






46. 1 Vision and mission 2 Value Statement






47. A value creating strategy that primary increases perceived value by increasing attractiveness of product






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






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






50. Quality of information and interpretation of it







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