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. Comparing a the firms operations with a direct competitor






2. Organizations within an industry with similar strategic characteristics - following similar strategies or competing on similar bases






3. Comparing similar functional firms in your industry






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






5. Acquisition of a company that operates in the same industry using the same value chain.






6. 1 Work Specialization 2 Departmentalization 3 Chain of Command 4 Centralization and Decentralization 5 Formalization






7. The categories of activities within and around an organization which together create a product or service.






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






9. Risk associated with macro-economic forces.






10. It can be defined as principles of conduct within an organization that guide decision making and behavior.






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






12. Comparing operations in totally unrelated industries






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






14. primary activities and support activities






15. 1 Balance Scorecard






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






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






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






19. Adhering to set of governing principles whether the philosophy is one of fairness - individual rights - avoiding conflicts of interest or another philosophical grounding.






20. 1 Interest Rates 2 Gross Domestic Product (GDP) 3 Consumer Price Index (CPI) 4 Disposable Income 5 Inflation






21. 1. information systems 2. logistics 3. HR






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






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.






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






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.






26. 1 Vision and mission 2 Value Statement






27. Individuals or groups who depend on an organization to fulfill their own goals and on whom - in turn the organization depends.






28. 1 Planning 2 Organizing 3 Directing 4 Controlling






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.






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






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






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






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






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.






35. 1 Financial 2 Human 3 Physical 4 Technological






36. The organization of a set of businesses that share identical or very similar strategies or strategic challenges.






37. 1 The rule is proposed 2 Public comment is invited 3 The final rule is issued






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. )






39. Business remain separate entities but may appear to outsiders as one entity. Commonly formed through the use of outsourcing.






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






41. Engaging in those activities that ensure effective operation - including leadership and motivation pf employee action towards goals. eg : Scheduling and conducting interview.






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






43. 1 Short term objective 2 Action plan to achieve these objective 3 Allocating resources 4 Motivating employees to manage the plan.






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






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)






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






47. Comparing 1 operation in the firm with another






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.






49. 1 Charts and graphs 2 Measures of central tendency 3 Measures of variation 4 Measures of association






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