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






2. 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






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






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






5. 1 Population 2 Sample 3 Normal Distribution






6. Individuals or groups who depend on an organization to fulfill their own goals and on whom - in turn the organization depends.






7. They are often based on industry best practice.






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






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






10. Is the means by which a strategy can be pursued.






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






12. 1 Introduction 2 Growth 3 Maturity 4 Decline






13. 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.






14. 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.






15. Value - Exploit - Rare - Imitate - Substitute






16. 1 Strategies are reviewed 2 Performance towards objective is measured 3 Corrective action is taken






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






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






19. Comparing similar functional firms in your industry






20. 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






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






22. 1 Financial 2 Human 3 Physical 4 Technological






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






24. Quality of information and interpretation of it






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






26. These strategy requires that organizations focus on a particular buyer group - segment of the product line or geographical market within an industry. It is build around serving particular target to the exclusion of others.






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






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






29. Risk associated with macro-economic forces.






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






31. 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.






32. 1 Attitudes towards career 2 Immigration 3 Occupational and industry skills 4 Recruitment 5 Unions 6 Unemployment 7 Turnover 8 Relocation






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






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






35. 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.






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






37. 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.






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






39. 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)






40. 1 Traditional Generation 2 Baby Boom Generation 3 Generation X 4 Generation Y






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






42. 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.






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






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






45. Specific - Measurable - Attainable - Realistic - Timely






46. 1 Short term objective 2 Action plan to achieve these objective 3 Allocating resources 4 Motivating employees to manage the plan.






47. 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






48. 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






49. 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






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