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






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






3. 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






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






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






6. 1 Charts and graphs 2 Measures of central tendency 3 Measures of variation 4 Measures of association






7. 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






8. Quality of information and interpretation of it






9. Detailed and plausible views of how the business environment of an organization might develop in the future based on key drivers for change about which there is a high level of uncertainty






10. Combine both qualitative and quantitative measures - acknowledge the expectations of different stakeholders and relate an assessment of performance to choice of strategy.






11. 1 Global Economy 2 Wage comparison 3 Trade Agreement 4 International Labor Law






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






13. 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.






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






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






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






17. Value - Exploit - Rare - Imitate - Substitute






18. 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






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






20. 1 Balance Scorecard






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






22. 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.






23. Is concerned with the ways in which an organization exeeds its minimum obligations to stakeholders specified through regulation.






24. The choices made through the 4 Ps : Product - Price - Place and Promotion are what makes a product or service unique. This is distinctive blend of marketing decision.






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






26. It uses data already gathered by others and reported in various sources.






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






28. 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. )






29. Comparing a the firms operations with a direct competitor






30. Cut costs - add value - or increase prices






31. 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"






32. 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.






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






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






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






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






37. 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






38. 1. multinational 2. global 3. transnational






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






40. Comparing operations in totally unrelated industries






41. Cost savings accomplished by operating combined companies more efficiently.






42. Specific - Measurable - Attainable - Realistic - Timely






43. 1 Introduction 2 Growth 3 Maturity 4 Decline






44. 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






45. 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






46. A value creating strategy that creates more perceived value by primarily reducing costs






47. 1 Statement of the problem 2 Objectives 3 Description of potential solution 4 Project Time line 5 Project Metrics.






48. It is simple and effective process for collecting information on the organization's current state. It answers four basic question.






49. 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






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