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. 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






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






3. 1 Strategy Formulation 2 Strategy Development 3 Strategy Implementation 4 Strategy Evaluation






4. Business remain separate entities but may appear to outsiders as one entity. Commonly formed through the use of outsourcing.






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






6. 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






7. Ability to broaden a product line or a customer base achieved through an acquisition.






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






9. 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?






10. 1 Experiments 2 Pilot Projects 3 Surveys/questionnaires 4 Interviews (exit - panel - individual) 5 Focus group 6 Direct observation 7 Testing






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






12. Is concerned with the structures and systems of control by which managers are held accountable to those who have a legitimate stake an organization.






13. 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






14. 1 Statement of the problem 2 Objectives 3 Description of potential solution 4 Project Time line 5 Project Metrics.






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






16. 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.






17. 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






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






19. 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.






20. 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.






21. The underlying principles that guide an organization's strategy






22. primary activities and support activities






23. Information systems with a charter to achieve competitive superiority.






24. 1 Attitudes towards career 2 Immigration 3 Occupational and industry skills 4 Recruitment 5 Unions 6 Unemployment 7 Turnover 8 Relocation






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






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






27. 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






28. A tool to help you think about the wider issues that have an impact on the industry or service area as a whole - taking five main categories into account: Socio-cultural - Technological - Economic - Environmental - Political






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






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






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






32. 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"






33. 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)






34. 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






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






36. 1 Global Economy 2 Wage comparison 3 Trade Agreement 4 International Labor Law






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






38. They are often based on industry best practice.






39. 1. multinational 2. global 3. transnational






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






41. It is a system of moral principles and values that establish appropriate conduct.






42. 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






43. 1 Organizational Strategy 2 Business unit strategy 3 Functional Strategy






44. The decisions made and the direction provided for managing multiple business units under a single corporate umbrella.






45. 1 Work Specialization 2 Departmentalization 3 Chain of Command 4 Centralization and Decentralization 5 Formalization






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






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






48. 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.






49. Specific - Measurable - Attainable - Realistic - Timely






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