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






2. Identifies stakeholder expectations and power and helps in understanding political priorities.






3. 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.






4. A strategy by which an organisation offers existing products to new markets.






5. 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.






6. 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






7. Value - Exploit - Rare - Imitate - Substitute






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






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






10. 1 Capacity 2 Standards 3 Scheduling 4 Inventory 5 Control






11. 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






12. Is part of an organization for which there is a distinct external market for goods or services that is different from another SBU






13. Cut costs - add value - or increase prices






14. 1 Balance Scorecard






15. primary activities and support activities






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






17. 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.






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






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






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






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






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






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






24. 1 Experiments 2 Pilot Projects 3 Surveys/questionnaires 4 Interviews (exit - panel - individual) 5 Focus group 6 Direct observation 7 Testing






25. Suppliers - buyers - competitive rivalry - product substitutes and potential entrants; reinforces the importance of economic theory; analytical tool of previously lacking the field of strategy; determines the nature/level of competition and profit






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






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






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






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






30. 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






31. 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.






32. Quality of information and interpretation of it






33. 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. )






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






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






36. 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.






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






38. Comparing a the firms operations with a direct competitor






39. 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






40. 1 Interest Rates 2 Gross Domestic Product (GDP) 3 Consumer Price Index (CPI) 4 Disposable Income 5 Inflation






41. 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.






42. 1 Traditional Generation 2 Baby Boom Generation 3 Generation X 4 Generation Y






43. 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.






44. 1 The rule is proposed 2 Public comment is invited 3 The final rule is issued






45. 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.






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






47. Specific - Measurable - Attainable - Realistic - Timely






48. 1 Cost Benefit Analysis 2 Return On Investment 3 Breakeven Analysis 4 Financial Statement Analysis






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






50. 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.