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Business Strategy

Subject : business-skills
Instructions:
  • Answer 50 questions in 15 minutes.
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  • 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. The organization of a set of businesses that share identical or very similar strategies or strategic challenges.






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






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






4. 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






5. 1 Financial 2 Human 3 Physical 4 Technological






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






7. 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.






8. 1 Short term objective 2 Action plan to achieve these objective 3 Allocating resources 4 Motivating employees to manage the plan.






9. Is the set of internationalization links and relationships that are necessary to create a product or service.






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






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






12. A strategy by which an organization peruses new product offerings and new markets.






13. These objectives are generally achieved within 3 to 5 years. Establishing these objectives provides direction - synergy and aids in establishing guidelines for evaluation.






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






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






16. 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






17. Comparing a the firms operations with a direct competitor






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






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






20. 1 SWOT analysis and environmental scanning 2 Long term objectives 3 Strategies to achieve these objectives are defined






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






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






23. A strategy by which an organisation offers existing products to new markets.






24. It is a vivid - guiding image of the organization's desired future. It is the ultimate picture of what leadership envisions for the organization.






25. 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






26. 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






27. Studying the future and arranging the means for dealing with it - which encompass forecasting - selling goals - and determining actions. eg: Forecasting future staffing needs.






28. 1 Population 2 Sample 3 Normal Distribution






29. 1 Strategy Formulation 2 Strategy Development 3 Strategy Implementation 4 Strategy Evaluation






30. 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






31. When a corporation can take synergistic advantage of relationships with suppliers and/or customers in making an acquisition.






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






33. 1. R&D 2. production 3. marketing and sales 4. customer service






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






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






36. The central focus of the department is the provision of goods and services to the customer. Basically this department must ensure that the product/service is produced and delivered to the customer.






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






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






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






40. 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






41. 1 Cost Benefit Analysis 2 Return On Investment 3 Breakeven Analysis 4 Financial Statement Analysis






42. 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






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






44. 1 Balance Scorecard






45. 1 Demographic Factors 2 Economic Factors 3 Employment Factors 4 International Factors 5 Political Factors 6 Social Factors 7 Technological Factors






46. 1 Attitudes towards career 2 Immigration 3 Occupational and industry skills 4 Recruitment 5 Unions 6 Unemployment 7 Turnover 8 Relocation






47. Risk associated with a particular business.






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






49. 1 Organizational Strategy 2 Business unit strategy 3 Functional Strategy






50. They represent milestones that must be achieved in order to reach the long term objectives. They are usually within 6 months to a year.







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