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Test your basic knowledge |
Business Strategy
Start Test
Study First
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. A corporation that owns a large number of businesses that are different sizes and operate in different industry sectors.
Ethical Behavior
low-cost strategy
Conglomerate
Junk bond
2. Refers to an intensive investigation of all factors surrounding a business decision to ensure that all risks are understood.
Due Diligence
Methodologies Of Operations
Outsourcing
Downscoping
3. Engaging in those activities that ensure effective operation - including leadership and motivation pf employee action towards goals. eg : Scheduling and conducting interview.
Business Life Cycle Phases
Business Case
Cost Leadership
Directing
4. 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.
Off shoring
common practices when analyzing your competition
Generational Difference
Junk bond
5. Risk associated with macro-economic forces.
Strategy Implementation
Cross-sector diversification
Market fit
Systematic risk
6. Cost savings accomplished by operating combined companies more efficiently.
Economizing
Strategic capability
Decline
Business strategy
7. A strategy by which an organization peruses new product offerings and new markets.
Maturity
Agency
Value Statement
Diversification
8. 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
Holding company
Business Case
top-down
Leveraged buyout (LBO)
9. They are used to condense and summarize large quantities of data for quick understanding.
Descriptive Statistic
Leveraged buyout (LBO)
Off shoring
Value chain
10. Internal Benchmarks establish levels of current performance of a particular tasks - such as cost per hire.
Introduction
Financial Measures
Stakeholders
Internal Benchmarks
11. They are often based on industry best practice.
External Benchmarks
efficiency frontier
Mid term Objectives
Spin-off
12. 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
Growth
bottom-up
differentiation
Business Case
13. Adhering to set of governing principles whether the philosophy is one of fairness - individual rights - avoiding conflicts of interest or another philosophical grounding.
Ethical Behavior
Economizing
Employment Factors
differentiation
14. 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.
Business Case
differentiation
Emergent Strategy
Business strategy
15. When a corporation can take synergistic advantage of relationships with suppliers and/or customers in making an acquisition.
Strategic business management
Market fit
CLO
Private equity firm
16. Organizations within an industry with similar strategic characteristics - following similar strategies or competing on similar bases
Outsourcing
Strategic Groups
Quantitative Analysis
Off shoring
17. 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.
Environmental scanning
Descriptive Statistic
Related diversification
Financial Measures
18. 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"
external benchmarking
CLO
generic benchmarking
Maturity
19. 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.
PESTEL
Related diversification
Blue ocean Strategy
Corporate governance
20. High-yield debt that is rated below investment grade at the time of purchase. These bonds have a higher risk of default - but typically pay higher yields than better quality bonds in order to make them attractive to investors. Typically issued by bu
Junk bond
differentiation
Stakeholder mapping
Decline
21. Sell more in existing markets - or enter new markets
Management fit
to obtain profit growth
Horizontal diversification
Secondary Research
22. 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.
Due Diligence
Ethics
Purpose of benchmarks
Corporate governance
23. Cut costs - add value - or increase prices
Organizing
Generational Difference
to increase profitability
Corporate social responsibility
24. A strategy by which an organisation offers existing products to new markets.
Market development
Long term Objectives
Mid term Objectives
to obtain profit growth
25. It is a system of moral principles and values that establish appropriate conduct.
Ethics
common practices when analyzing your competition
Outsourcing
Economizing
26. It uses data already gathered by others and reported in various sources.
Secondary Research
SPAC
Due Diligence
SWOT Analysis
27. The organization of a set of businesses that share identical or very similar strategies or strategic challenges.
Technological Factors
Strategic business unit (SBU)
Introduction
Leveraged buyout (LBO)
28. Views the world as its unit of analysis - Plants are built to provide local marketing advantages - recognizes the importance of being flexible at the country-level operations - more responsive to local needs
Unsystematic risk
Economizing
internal benchmarking
mentality of MNC
29. Acquisition of another company upstream (supplier) or downstream (buyer) in the value chain of the same industry in which the corporation operates.
Cost Leadership
Vertical diversification
External Benchmarks
Secondary Research
30. Acquisition of a company that operates in the same industry using the same value chain.
common practices when analyzing your competition
Descriptive Statistic
Horizontal diversification
Secondary Research
31. These objectives are generally achieved within 3 to 5 years. Establishing these objectives provides direction - synergy and aids in establishing guidelines for evaluation.
Strategic business unit
low-cost strategy
Methodologies Of Operations
Long term Objectives
32. 1 Financial 2 Human 3 Physical 4 Technological
Corporate strategy
Resources
Extended Organization
Strategic capability
33. 1 Age 2 Gender 3 Generational Difference 4 Geographic shifts in population 5 Ethnicity 6 Unskilled Labor 7 Non traditional labor force
Action Plan
Economizing
mentality of MNC
Demographic Factors
34. Economic - legal resp. - ethical - and discretionary
generic benchmarking
type of responsibilities of a business
Blue ocean Strategy
To achieve competitive advantage and superior profitability
35. A strategy by which an organization takes increased share of its existing markets with its existing product range.
Critical success factors
Market Penetrati
Descriptive Statistic
Blue ocean Strategy
36. Serve the purpose similar to short term objectives but are completed in 1 to 3 years.
Leveraged buyout (LBO)
Scope
Mid term Objectives
key to success in strategic planning
37. 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
Value chain
Business Case
Value network
to maximize profits
38. 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
Decline
Strategy Evaluation
Business Life Cycle Phases
types of competitive strategies for international businesses
39. Comparing 1 operation in the firm with another
internal benchmarking
Operations
SPAC
common practices when analyzing your competition
40. 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
Growth
Short term Objectives
international strategy
Decline
41. 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.
Strategic business management
Organizing
Off shoring
Unsystematic risk
42. 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
SWOT Analysis
Code of Ethics
Spin-off
Business Case
43. 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)
Secondary Research
international strategy
Organization Structure
The law making Process
44. Corporation that owns the majority of voting shares of other companies - but that allows the other companies to operate as independent entities.
Business Case
Business Life Cycle Phases
Holding company
Focus
45. Comparing operations in totally unrelated industries
Horizontal diversification
Corporate social responsibility
generic benchmarking
key to success in strategic planning
46. 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.
Resources
Vision Statement
Ethics
Differentiation
47. 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.
Purpose of benchmarks
Downscoping
Junk bond
External Benchmarks
48. 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
Conglomerate
Blue ocean Strategy
mentality of MNC
Scenarios
49. They represent milestones that must be achieved in order to reach the long term objectives. They are usually within 6 months to a year.
type of responsibilities of a business
types of competitive strategies for international businesses
Five Forces
Short term Objectives
50. 1 Interest Rates 2 Gross Domestic Product (GDP) 3 Consumer Price Index (CPI) 4 Disposable Income 5 Inflation
Economic Factors
Horizontal diversification
Performance Measures
Scenarios