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. 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






2. Is part of an organization for which there is a distinct external market for goods or services that is different from another SBU






3. 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






4. 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. )






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






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






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






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






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






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






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






12. Comparing a the firms operations with a direct competitor






13. 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.






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






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






16. The benefits that develop through the extension and application of corporate resources to a newly acquired company.






17. 1 Age 2 Gender 3 Generational Difference 4 Geographic shifts in population 5 Ethnicity 6 Unskilled Labor 7 Non traditional labor force






18. 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.






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






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






21. Specific - Measurable - Attainable - Realistic - Timely






22. Economic - legal resp. - ethical - and discretionary






23. Acquisition of a company that operates in the same industry using the same value chain.






24. Risk associated with macro-economic forces.






25. 1 Cost Benefit Analysis 2 Return On Investment 3 Breakeven Analysis 4 Financial Statement Analysis






26. 1 Work Specialization 2 Departmentalization 3 Chain of Command 4 Centralization and Decentralization 5 Formalization






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






28. 1 Vision and mission 2 Value Statement






29. 1 Strategies are reviewed 2 Performance towards objective is measured 3 Corrective action is taken






30. 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.






31. 1 The rule is proposed 2 Public comment is invited 3 The final rule is issued






32. Value - Exploit - Rare - Imitate - Substitute






33. Quality of information and interpretation of it






34. 1 Population 2 Sample 3 Normal Distribution






35. 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"






36. 1 Interest Rates 2 Gross Domestic Product (GDP) 3 Consumer Price Index (CPI) 4 Disposable Income 5 Inflation






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






38. 1 Organizational Strategy 2 Business unit strategy 3 Functional Strategy






39. Cut costs - add value - or increase prices






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






41. 1 Introduction 2 Growth 3 Maturity 4 Decline






42. 1 Advances in technology 2 Technological skills 3 The digital divide 4 Process changes






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






44. 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






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






46. 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






47. Special Purpose Acquisition Company. Empty-shell firms that promise to buy businesses with the proceeds of their initial public stock offerings.






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






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






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