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






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






3. 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.






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






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






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






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






8. 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)






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






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






11. Risk associated with a particular business.






12. Identifies stakeholder expectations and power and helps in understanding political priorities.






13. 1 Traditional Generation 2 Baby Boom Generation 3 Generation X 4 Generation Y






14. 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






15. Value - Exploit - Rare - Imitate - Substitute






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






17. 1 Vision and mission 2 Value Statement






18. Comparing operations in totally unrelated industries






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






20. 1 Demographic Factors 2 Economic Factors 3 Employment Factors 4 International Factors 5 Political Factors 6 Social Factors 7 Technological Factors






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






22. The political - economic - social - technological - environmental - and legal dimensions of an organization's external environment.






23. 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.






24. Comparing 1 operation in the firm with another






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






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






27. 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






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






29. 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






30. 1 The rule is proposed 2 Public comment is invited 3 The final rule is issued






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






32. 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






33. 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






34. 1 Cost Leadership 2 Differentiation 3 Focus






35. 1. multinational 2. global 3. transnational






36. 1 Charts and graphs 2 Measures of central tendency 3 Measures of variation 4 Measures of association






37. 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






38. 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






39. 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






40. 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






41. 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.






42. 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






43. Ensuring that everything is carried out according to the plan. Eg: Measuring recruiting efforts and effectiveness.






44. 1 Short term objective 2 Action plan to achieve these objective 3 Allocating resources 4 Motivating employees to manage the plan.






45. 1 Financial 2 Human 3 Physical 4 Technological






46. 1 Population 2 Sample 3 Normal Distribution






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






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






49. 1 Age 2 Gender 3 Generational Difference 4 Geographic shifts in population 5 Ethnicity 6 Unskilled Labor 7 Non traditional labor force






50. When a corporation enters a new business in a different industry from that in which it currently operates and does not expect to achieve any value chain synergies through the combination.