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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. Comparing a the firms operations with a direct competitor
Strategic business unit
SPAC
external benchmarking
Internal Benchmarks
2. Organizations within an industry with similar strategic characteristics - following similar strategies or competing on similar bases
Dominant business
Value network
bottom-up
Strategic Groups
3. Comparing similar functional firms in your industry
bottom-up
Cost Leadership
functional benchmarking
Strategic business unit
4. 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
international strategy
Horizontal diversification
Focus
Value network
5. Acquisition of a company that operates in the same industry using the same value chain.
Horizontal diversification
Growth
Long term Objectives
mentality of a MNC manager
6. 1 Work Specialization 2 Departmentalization 3 Chain of Command 4 Centralization and Decentralization 5 Formalization
Organization Structure
Five Forces
Blue ocean Strategy
Primary Research
7. The categories of activities within and around an organization which together create a product or service.
Diversification
Strategic Planning
Cost Leadership
Value chain
8. 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
Operations
Decline
internal benchmarking
benefits of competitor intelligence
9. Risk associated with macro-economic forces.
Core Values
Business Case
differentiation
Systematic risk
10. It can be defined as principles of conduct within an organization that guide decision making and behavior.
Code of Ethics
Market Penetrati
Generational Difference
Primary Research
11. The types of decisions made and direction created for a single business
Primary Research
Business strategy
functional benchmarking
Resources
12. Comparing operations in totally unrelated industries
Environmental Scanning
Purpose of benchmarks
Horizontal diversification
generic benchmarking
13. 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
Operational fit
Business Case
Cultural web
Environmental scanning
14. primary activities and support activities
Corporate social responsibility
value creating operations in the value chain of operation
SWOT Analysis
Parts of Business Case
15. 1 Balance Scorecard
Takeover
Performance Measures
Business Life Cycle Phases
Inferential Statistic
16. The benefits that develop through the extension and application of corporate resources to a newly acquired company.
Blue ocean Strategy
skills businesses need to create competitive advantage
Business Case
Resources leverage
17. 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
Secondary Research
Private equity firm
Corporate governance
Mission Statement
18. 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
support activities of a business
Strategy Development
Business Case
types of competitive strategies for international businesses
19. Adhering to set of governing principles whether the philosophy is one of fairness - individual rights - avoiding conflicts of interest or another philosophical grounding.
Market fit
Ethical Behavior
Stakeholder mapping
Factors that affect external environment
20. 1 Interest Rates 2 Gross Domestic Product (GDP) 3 Consumer Price Index (CPI) 4 Disposable Income 5 Inflation
Employment Factors
internal benchmarking
Spin-off
Economic Factors
21. 1. information systems 2. logistics 3. HR
Strategy Implementation
Descriptive Statistic
support activities of a business
Planning
22. It uses data already gathered by others and reported in various sources.
Secondary Research
Strategic Groups
The law making Process
Parts of Business Case
23. 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.
differentiation
Growth
Ethics
Off shoring
24. These are the detailed steps a unit - department - or team will take in order to achieve the short term objectives.
Core Values
Action Plan
Code of Ethics
Five Forces
25. 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.
Resources
Core competences
Financial Measures
Maturity
26. 1 Vision and mission 2 Value Statement
key to success in strategic planning
Mid term Objectives
Strategy Formulation
mentality of a MNC manager
27. Individuals or groups who depend on an organization to fulfill their own goals and on whom - in turn the organization depends.
Strategic Groups
Stakeholders
Employment Factors
Resources leverage
28. 1 Planning 2 Organizing 3 Directing 4 Controlling
Management Functions
Growth
Emergent Strategy
Performance Measures
29. The choices made through the 4 Ps : Product - Price - Place and Promotion are what makes a product or service unique. This is distinctive blend of marketing decision.
Unsystematic risk
Marketing Mix
External Benchmarks
Outsourcing
30. Economic - legal resp. - ethical - and discretionary
Factors that affect external environment
type of responsibilities of a business
Performance Measures
Strategic Planning Phase
31. 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
Maturity
Takeover
to maximize profits
HR functions that can be outsourced
32. It is simple and effective process for collecting information on the organization's current state. It answers four basic question.
SWOT Analysis
to maximize profits
Diversification
Off shoring
33. Corporation that owns the majority of voting shares of other companies - but that allows the other companies to operate as independent entities.
Decline
primary activities of a business
Growth
Holding company
34. Is concerned with the structures and systems of control by which managers are held accountable to those who have a legitimate stake an organization.
bottom-up
Corporate governance
Downscoping
Critical success factors
35. 1 Financial 2 Human 3 Physical 4 Technological
Corporate strategy
Resources
Strategic capability
generic benchmarking
36. The organization of a set of businesses that share identical or very similar strategies or strategic challenges.
Financial Measures
Spin-off
Environmental scanning
Strategic business unit (SBU)
37. 1 The rule is proposed 2 Public comment is invited 3 The final rule is issued
Value network
Strategic Information Systems
The law making Process
Corporate governance
38. It is a systematic process of gathering and analyzing all relevant data about external opportunities (emerging marketplace - additional capabilities provided through new technology.) and threats (emerging competition - shifts in marketplaces. )
Strategies at three levels
Environmental Scanning
Controlling
Operations
39. Business remain separate entities but may appear to outsiders as one entity. Commonly formed through the use of outsourcing.
Business Case
Purpose of benchmarks
Conglomerate
Extended Organization
40. A value creating strategy that primary increases perceived value by increasing attractiveness of product
differentiation
mentality of a MNC manager
Descriptive Statistic
Primary Research
41. Engaging in those activities that ensure effective operation - including leadership and motivation pf employee action towards goals. eg : Scheduling and conducting interview.
Directing
Factors that affect external environment
primary activities of a business
Methodologies Of Operations
42. It is based on numeric data that is analyzed with statistic method. 1 Descriptive Statistic 2 Inferential Statistic
Quantitative Analysis
Environmental Scanning
Leveraged buyout (LBO)
PESTEL
43. 1 Short term objective 2 Action plan to achieve these objective 3 Allocating resources 4 Motivating employees to manage the plan.
Strategy Implementation
Decline
Focus
differentiation
44. The resources and competences of an organization needed for it to survive and prosper.
Strategic capability
Value chain
Merger and Acquisition Process
Organization Structure
45. 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)
efficiency frontier
Strategic business unit
Scenarios
Financial Measures
46. Is concerned with the ways in which an organization exeeds its minimum obligations to stakeholders specified through regulation.
Outsourcing
support activities of a business
Corporate social responsibility
STEEP
47. Comparing 1 operation in the firm with another
key to success in strategic planning
Mid term Objectives
STEEP
internal benchmarking
48. 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.
Purpose of benchmarks
Unsystematic risk
SPAC
Value chain
49. 1 Charts and graphs 2 Measures of central tendency 3 Measures of variation 4 Measures of association
Stakeholders
Short term Objectives
Descriptive Statistic
Strategic method
50. Private (nonpublic) corporations or partnerships that use their financial resources to engineer buyouts and acquisitions of other companies.
Operations
Financial Measures
Private equity firm
Purpose of benchmarks