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. 1 Preparation 2 Due Diligence 3 Planning integration of the business entities 4 Implementation - monitoring and measurement






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






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. 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






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






6. 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.






7. 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






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






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






10. 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






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






12. 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






13. Ensure that organization's strategy and operations are consistent with each other






14. A tool to help you think about the wider issues that have an impact on the industry or service area as a whole - taking five main categories into account: Socio-cultural - Technological - Economic - Environmental - Political






15. Internal Benchmarks establish levels of current performance of a particular tasks - such as cost per hire.






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






17. Acquisition of a company in a different industry - but which employs a similar value chain.






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






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






20. Not necessarily considered HR core function like benefits plan administration - payroll administration - and background checks - etc.






21. 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.






22. A process or function previously performed by an organization is transferred to a separate entity. The workers now performing this function are not employees of the organization but they are employees of entity to whom the work is given.






23. Is the means by which a strategy can be pursued.






24. Comparing operations in totally unrelated industries






25. 1 Planning 2 Organizing 3 Directing 4 Controlling






26. Specific - Measurable - Attainable - Realistic - Timely






27. 1. multinational 2. global 3. transnational






28. 1 Attitudes towards career 2 Immigration 3 Occupational and industry skills 4 Recruitment 5 Unions 6 Unemployment 7 Turnover 8 Relocation






29. 1 Financial 2 Human 3 Physical 4 Technological






30. 1 Balance Scorecard






31. 1 Cost Benefit Analysis 2 Return On Investment 3 Breakeven Analysis 4 Financial Statement Analysis






32. Where an individual (such as a corporate officer) acts on behalf of someone else (such as a shareholder)






33. 1 Demographic Factors 2 Economic Factors 3 Employment Factors 4 International Factors 5 Political Factors 6 Social Factors 7 Technological Factors






34. 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






35. 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






36. 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






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






38. 1 Statement of the problem 2 Objectives 3 Description of potential solution 4 Project Time line 5 Project Metrics.






39. 1 SWOT analysis and environmental scanning 2 Long term objectives 3 Strategies to achieve these objectives are defined






40. 1 Vision and mission 2 Value Statement






41. 1 Advances in technology 2 Technological skills 3 The digital divide 4 Process changes






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






43. A participative approach to planning in which there is involvement at all levels; plans are developed at the lower levels of an organisation and funnelled up through consecutive levels until they reach top management - advantage:People are responsibl






44. When a corporation enters a new business in a different industry from that in which it currently operates and does not expect to achieve any value chain synergies through the combination.






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






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






47. Processes and activities used to formulate HR objectives - practices - and policies.






48. 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)






49. 1 Strategy Formulation 2 Strategy Development 3 Strategy Implementation 4 Strategy Evaluation






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