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






2. It describes an organizational challenge and possible alternative solutions - presenting evidence in support of a proposed solution. They are effective way to compete for limited resources.






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






4. 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.






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






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






7. 1 Cost Leadership 2 Differentiation 3 Focus






8. Value - Exploit - Rare - Imitate - Substitute






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






10. 1 Population 2 Sample 3 Normal Distribution






11. 1 Planning 2 Organizing 3 Directing 4 Controlling






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






13. New ideas should not be dismissed simply because they originated at a grassroots level. Business innovations developed under these circumstances will create new objectives or modify existing ones and create an overlay of new direction compared to wha






14. 1. multinational 2. global 3. transnational






15. 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






16. 1 Statement of the problem 2 Objectives 3 Description of potential solution 4 Project Time line 5 Project Metrics.






17. 1 Strategies are reviewed 2 Performance towards objective is measured 3 Corrective action is taken






18. 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






19. Specific - Measurable - Attainable - Realistic - Timely






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






21. 1 Organizational Strategy 2 Business unit strategy 3 Functional Strategy






22. Quality of information and interpretation of it






23. 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






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






25. Refers to an intensive investigation of all factors surrounding a business decision to ensure that all risks are understood.






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






27. 1 Interest Rates 2 Gross Domestic Product (GDP) 3 Consumer Price Index (CPI) 4 Disposable Income 5 Inflation






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






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






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






31. 1 Preparation 2 Due Diligence 3 Planning integration of the business entities 4 Implementation - monitoring and measurement






32. 1 SWOT analysis and environmental scanning 2 Long term objectives 3 Strategies to achieve these objectives are defined






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






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






35. 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.






36. Acquisition of a company in a different industry - but which employs a similar value chain.






37. 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






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






39. When a corporation reduces its level of diversification and strategically refocuses on core businesses where the synergies of scope - economizing - and leverage are more evident and more easily realized.






40. primary activities and support activities






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






42. 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






43. It involves data that is gathered firsthand for the specific evaluation being conduced.






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






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






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






47. 1 Introduction 2 Growth 3 Maturity 4 Decline






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






49. 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.






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