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






2. 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






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






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






5. 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.






6. A process and goal: the process: choices regarding acquiring and using scared resources: the goal: maintain and achieving a unique and valuable position in the international market






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






8. Engaging in those activities that ensure effective operation - including leadership and motivation pf employee action towards goals. eg : Scheduling and conducting interview.






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






10. 1 Vision and mission 2 Value Statement






11. Comparing a the firms operations with a direct competitor






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






13. 1 Financial 2 Human 3 Physical 4 Technological






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






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






16. 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






17. It specifies what activities the organization intends to pursue and what course of management has charted for the future. It provides general outline of how the organization will achieve the vision. It includes who the company is - what the company






18. Specific - Measurable - Attainable - Realistic - Timely






19. A company in which 70-95% of revenue comes from a single business






20. Designing a structure to assist in goal accomplishment that effectively relates human and nonhuman resources to the tasks of enterprise.Eg : Designing an interview process.






21. 1 Statement of the problem 2 Objectives 3 Description of potential solution 4 Project Time line 5 Project Metrics.






22. 1 Historical Data (HR records - census records) 2 Benchmarking and best practices reports 3 Purchased Data ( Gallup or Roper data) 4 Professional Journals - Books - and other media 5 Secondhand reports (grapevine reports)






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






24. 1 Organizational Strategy 2 Business unit strategy 3 Functional Strategy






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






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






27. 1 Attitudes towards career 2 Immigration 3 Occupational and industry skills 4 Recruitment 5 Unions 6 Unemployment 7 Turnover 8 Relocation






28. 1 Capacity 2 Standards 3 Scheduling 4 Inventory 5 Control






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






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






31. It can be defined as principles of conduct within an organization that guide decision making and behavior.






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






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






34. 1 Strategies are reviewed 2 Performance towards objective is measured 3 Corrective action is taken






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






36. 1. information systems 2. logistics 3. HR






37. 1 Cost Benefit Analysis 2 Return On Investment 3 Breakeven Analysis 4 Financial Statement Analysis






38. 1 Introduction 2 Growth 3 Maturity 4 Decline






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






40. 1 Balance Scorecard






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






42. 1. multinational 2. global 3. transnational






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






44. 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.






45. Organization that follow this approach are not competing in an established market. They see themselves as a creating entirely new value. This strategy values innovation - creativity and rule breaking.






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






47. Comparing 1 operation in the firm with another






48. 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.






49. Quality of information and interpretation of it






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







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