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






2. 1 Introduction 2 Growth 3 Maturity 4 Decline






3. 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






4. 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.






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






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






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






8. 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.






9. A merger or acquisition where there is some similarity of industry and/or value chain between the corporation and the company it seeks to acquire.






10. primary activities and support activities






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






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






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






14. 1 Traditional Generation 2 Baby Boom Generation 3 Generation X 4 Generation Y






15. 1 Global Economy 2 Wage comparison 3 Trade Agreement 4 International Labor Law






16. 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






17. 1 Statement of the problem 2 Objectives 3 Description of potential solution 4 Project Time line 5 Project Metrics.






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






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






20. 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






21. 1 Population 2 Sample 3 Normal Distribution






22. 1 Financial 2 Human 3 Physical 4 Technological






23. 1 SWOT analysis and environmental scanning 2 Long term objectives 3 Strategies to achieve these objectives are defined






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. 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






27. 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.






28. Specific - Measurable - Attainable - Realistic - Timely






29. 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






30. A method of planning in which corporate hq develops and provides guidelines - disadvantages: the method of planning restricts initiative at lower level - shows insensitivity to local conditions - advantages: headquarters formulates a plan; this ensur






31. 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.






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






33. Comparing operations in totally unrelated industries






34. 1 Work Specialization 2 Departmentalization 3 Chain of Command 4 Centralization and Decentralization 5 Formalization






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






37. 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






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






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






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






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






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






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






44. 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






45. Comparing 1 operation in the firm with another






46. They are often based on industry best practice.






47. 1 Vision and mission 2 Value Statement






48. It is the process that involves a systematic survey and interruption of relevant data to identify external opportunities and threats and to assess how these factors affect the organization currently and how they are likely to affect the organization






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






50. 1 Cost Leadership 2 Differentiation 3 Focus