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






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






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






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






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






6. The types of decisions made and direction created for a single business






7. 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






8. 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






9. These are the detailed steps a unit - department - or team will take in order to achieve the short term objectives.






10. 1. improve bidding success 2. identify competitors key customers 3. identify expansion plans 4. improve understanding of competitors






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






12. 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.






13. 1 Global Economy 2 Wage comparison 3 Trade Agreement 4 International Labor Law






14. 1 Short term objective 2 Action plan to achieve these objective 3 Allocating resources 4 Motivating employees to manage the plan.






15. 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






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. primary activities and support activities






18. Describes the structure of product - service - and information flows and the role of participating parties.






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






20. 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"






21. Comparing similar functional firms in your industry






22. 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.






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






24. The decisions made and the direction provided for managing multiple business units under a single corporate umbrella.






25. 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)






26. 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.






27. Ensuring that everything is carried out according to the plan. Eg: Measuring recruiting efforts and effectiveness.






28. 1 Vision and mission 2 Value Statement






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






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






31. 1 Financial 2 Human 3 Physical 4 Technological






32. 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






33. 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.






34. 1 Organizational Strategy 2 Business unit strategy 3 Functional Strategy






35. 1. a graph demonstrating the different positions a firm can adopt in creating value 2. compares value and differentiation (Y) versus high cost to low cost (x)






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






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






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






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






40. 1 Experiments 2 Pilot Projects 3 Surveys/questionnaires 4 Interviews (exit - panel - individual) 5 Focus group 6 Direct observation 7 Testing






41. 1 Statement of the problem 2 Objectives 3 Description of potential solution 4 Project Time line 5 Project Metrics.






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






43. 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






44. 1 Traditional Generation 2 Baby Boom Generation 3 Generation X 4 Generation Y






45. Risk associated with a particular business.






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






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






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






49. Cut costs - add value - or increase prices






50. Value - Exploit - Rare - Imitate - Substitute