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. Acquisition of another company upstream (supplier) or downstream (buyer) in the value chain of the same industry in which the corporation operates.






2. Risk associated with macro-economic forces.






3. Quality of information and interpretation of it






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






5. Comparing 1 operation in the firm with another






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






7. 1 Organizational Strategy 2 Business unit strategy 3 Functional Strategy






8. A corporation that owns a large number of businesses that are different sizes and operate in different industry sectors.






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






10. 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






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






12. 1 Preparation 2 Due Diligence 3 Planning integration of the business entities 4 Implementation - monitoring and measurement






13. 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"






14. 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.






15. 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)






16. 1 Strategies are reviewed 2 Performance towards objective is measured 3 Corrective action is taken






17. Risk associated with a particular business.






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






19. 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.






20. The types of decisions made and direction created for a single business






21. 1 SWOT analysis and environmental scanning 2 Long term objectives 3 Strategies to achieve these objectives are defined






22. Organizations within an industry with similar strategic characteristics - following similar strategies or competing on similar bases






23. It describes what is important to an organization and often dictate employee behavior. They are the heart of the culture of an organization.






24. 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.






25. 1 Charts and graphs 2 Measures of central tendency 3 Measures of variation 4 Measures of association






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






27. 1 Attitudes towards career 2 Immigration 3 Occupational and industry skills 4 Recruitment 5 Unions 6 Unemployment 7 Turnover 8 Relocation






28. 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






29. They are used to condense and summarize large quantities of data for quick understanding.






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






31. Specific - Measurable - Attainable - Realistic - Timely






32. primary activities and support activities






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






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






35. Private (nonpublic) corporations or partnerships that use their financial resources to engineer buyouts and acquisitions of other companies.






36. 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






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






38. Independent & entrepreneurial - adopts a more flexible approach to their international operations - More sensitive & responsive to local environment






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






40. 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






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






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






43. 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. )






44. Organization that follow this approach are not competing in an established market. They see themselves as a creating entirely new value. This strategy values innovation - creativity and rule breaking.






45. 1 Introduction 2 Growth 3 Maturity 4 Decline






46. 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






47. 1 Population 2 Sample 3 Normal Distribution






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






49. 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.






50. 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.