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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. 1 Introduction 2 Growth 3 Maturity 4 Decline
Due Diligence
Business Life Cycle Phases
Merger and Acquisition Process
Operational fit
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.
Leveraged buyout (LBO)
Technological Factors
Related diversification
Primary Research
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
Emergent Strategy
Off shoring
generic benchmarking
common practices when analyzing your competition
4. The underlying principles that guide an organization's strategy
Core Values
types of competitive strategies for international businesses
Business model
skills businesses need to create competitive advantage
5. A company in which 70-95% of revenue comes from a single business
Dominant business
Systematic risk
top-down
Economizing
6. Quality of information and interpretation of it
Parts of Business Case
key to success in strategic planning
Agency
Market fit
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.
Resources
Business Case
Environmental scanning
external benchmarking
8. A corporation that owns a large number of businesses that are different sizes and operate in different industry sectors.
Vision Statement
Conglomerate
Environmental Scanning
Corporate social responsibility
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.
Differentiation
Related diversification
Management fit
Cross-sector diversification
10. Comparing similar functional firms in your industry
Cross-sector diversification
Value Statement
Generational Difference
functional benchmarking
11. Cost savings accomplished by operating combined companies more efficiently.
Purpose of benchmarks
Due Diligence
International Factors
Economizing
12. Special Purpose Acquisition Company. Empty-shell firms that promise to buy businesses with the proceeds of their initial public stock offerings.
Short term Objectives
Descriptive Statistic
Business Life Cycle Phases
SPAC
13. When a corporation is able to combine similar primary value chain activities.
generic benchmarking
Strategy Development
Operational fit
Strategic capability
14. 1. improve bidding success 2. identify competitors key customers 3. identify expansion plans 4. improve understanding of competitors
benefits of competitor intelligence
Core Values
Stakeholder mapping
support activities of a business
15. Cut costs - add value - or increase prices
to increase profitability
Management fit
Quantitative Analysis
Decline
16. Economic - legal resp. - ethical - and discretionary
Due Diligence
Organizing
Merger and Acquisition Process
type of responsibilities of a business
17. It is a system of moral principles and values that establish appropriate conduct.
Ethics
mentality of a MNC manager
Blue ocean Strategy
Resources
18. 1 Preparation 2 Due Diligence 3 Planning integration of the business entities 4 Implementation - monitoring and measurement
Value network
Merger and Acquisition Process
Unsystematic risk
Action Plan
19. The types of decisions made and direction created for a single business
Resources leverage
SWOT Analysis
Business strategy
Strategic Planning
20. Describes the structure of product - service - and information flows and the role of participating parties.
Strategic Planning Phase
common practices when analyzing your competition
Business model
Ethics
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
Five Forces
Critical success factors
Corporate social responsibility
bottom-up
22. Acquisition of a company in a different industry - but which employs a similar value chain.
Business strategy
Cross-sector diversification
Holding company
Strategies at three levels
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
Ethics
Business Case
Action Plan
Emergent Strategy
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
Scenarios
to maximize profits
Growth
Emergent Strategy
25. A value creating strategy that creates more perceived value by primarily reducing costs
External Benchmarks
Cost Leadership
low-cost strategy
Strategic Information Systems
26. It is based on numeric data that is analyzed with statistic method. 1 Descriptive Statistic 2 Inferential Statistic
external benchmarking
Internal Benchmarks
Secondary Research
Quantitative Analysis
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
Strategic Planning
Directing
Spin-off
Related diversification
28. A strategy by which an organization takes increased share of its existing markets with its existing product range.
STEEP
Corporate strategy
Corporate governance
Market Penetrati
29. The resources and competences of an organization needed for it to survive and prosper.
Balanced scorecards
Due Diligence
Strategy Development
Strategic capability
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?
Related diversification
Market development
type of responsibilities of a business
Strategic Planning
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.
generic benchmarking
Market development
Focus
Growth
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
International Factors
Takeover
top-down
skills businesses need to create competitive advantage
33. Adhering to set of governing principles whether the philosophy is one of fairness - individual rights - avoiding conflicts of interest or another philosophical grounding.
differentiation
Spin-off
PESTEL
Ethical Behavior
34. Acquisition of a company that operates in the same industry using the same value chain.
Junk bond
Unrelated diversification
Horizontal diversification
Differentiation
35. It can be defined as principles of conduct within an organization that guide decision making and behavior.
to increase profitability
differentiation
Economic Factors
Code of Ethics
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
Stakeholders
Introduction
Related diversification
value creating operations in the value chain of operation
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)
to maximize profits
Code of Ethics
Dominant business
Secondary Research
38. Is concerned with the ways in which an organization exeeds its minimum obligations to stakeholders specified through regulation.
Corporate social responsibility
differentiation
Strategic business unit
functional benchmarking
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
Business model
key to success in strategic planning
Decline
Outsourcing
40. Comparing operations in totally unrelated industries
Strategic business unit
generic benchmarking
Strategy Implementation
Off shoring
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
Primary Research
Growth
international strategy
Management Functions
42. It is simple and effective process for collecting information on the organization's current state. It answers four basic question.
Cultural web
SWOT Analysis
PESTEL
differentiation
43. 1 Strategies are reviewed 2 Performance towards objective is measured 3 Corrective action is taken
Short term Objectives
benefits of competitor intelligence
Strategy Evaluation
Takeover
44. 1 Organizational Strategy 2 Business unit strategy 3 Functional Strategy
Strategies at three levels
Stakeholders
differentiation
Controlling
45. Refers to an intensive investigation of all factors surrounding a business decision to ensure that all risks are understood.
Leveraged buyout (LBO)
Due Diligence
Methodologies Of Operations
Resources
46. 1 Demographic Factors 2 Economic Factors 3 Employment Factors 4 International Factors 5 Political Factors 6 Social Factors 7 Technological Factors
Strategic business unit (SBU)
Maturity
Factors that affect external environment
Core Values
47. Combine both qualitative and quantitative measures - acknowledge the expectations of different stakeholders and relate an assessment of performance to choice of strategy.
Organization Structure
Controlling
Balanced scorecards
Cultural web
48. primary activities and support activities
Stakeholders
value creating operations in the value chain of operation
Downscoping
Strategic Information Systems
49. When a corporation can take synergistic advantage of relationships with suppliers and/or customers in making an acquisition.
Market Penetrati
Market fit
SMART Goals
Business model
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.
Takeover
Quantitative Analysis
Environmental Scanning
Primary Research