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






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






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






4. 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






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






6. 1 Statement of the problem 2 Objectives 3 Description of potential solution 4 Project Time line 5 Project Metrics.






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






8. 1 Financial 2 Human 3 Physical 4 Technological






9. 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






10. 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






11. Internal Benchmarks establish levels of current performance of a particular tasks - such as cost per hire.






12. 1 SWOT analysis and environmental scanning 2 Long term objectives 3 Strategies to achieve these objectives are defined






13. 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






14. 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






15. 1 Cost Benefit Analysis 2 Return On Investment 3 Breakeven Analysis 4 Financial Statement Analysis






16. 1 Planning 2 Organizing 3 Directing 4 Controlling






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






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






19. 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






20. Sell more in existing markets - or enter new markets






21. Cut costs - add value - or increase prices






22. 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






23. 1 Balance Scorecard






24. 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






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






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






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






28. 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.






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






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






31. Information systems with a charter to achieve competitive superiority.






32. Is concerned with the ways in which an organization exeeds its minimum obligations to stakeholders specified through regulation.






33. It is a process not just written project plan that helps an organization focus on how to succeed in the future - where the company is now? - where does the company want to go? - How will the company get there?






34. 1 Charts and graphs 2 Measures of central tendency 3 Measures of variation 4 Measures of association






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






36. 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






37. 1 Work Specialization 2 Departmentalization 3 Chain of Command 4 Centralization and Decentralization 5 Formalization






38. 1 Preparation 2 Due Diligence 3 Planning integration of the business entities 4 Implementation - monitoring and measurement






39. 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






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






41. 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






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






43. 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.






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






45. 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.






46. Risk associated with macro-economic forces.






47. 1 Vision and mission 2 Value Statement






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






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






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