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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. Is concerned with the structures and systems of control by which managers are held accountable to those who have a legitimate stake an organization.
Corporate governance
Secondary Research
Business model
differentiation
2. Acquisition of another company upstream (supplier) or downstream (buyer) in the value chain of the same industry in which the corporation operates.
mentality of a MNC manager
Vertical diversification
key to success in strategic planning
Quantitative Analysis
3. A process where a company is bought primarily using debt. Typically engineered by management of the company - or by private equity firms.
Strategic business management
Directing
Leveraged buyout (LBO)
Purpose of benchmarks
4. Cut costs - add value - or increase prices
external benchmarking
to increase profitability
Demographic Factors
Market development
5. Sell more in existing markets - or enter new markets
top-down
Maturity
to obtain profit growth
Related diversification
6. Ability to broaden a product line or a customer base achieved through an acquisition.
Scope
Business model
SMART Goals
Strategic Planning
7. 1 Organizational Strategy 2 Business unit strategy 3 Functional Strategy
Resources
benefits of competitor intelligence
Strategies at three levels
The law making Process
8. It refers to relocation of processes or functions from a home country to another country and it appeals to organization for cost saving.
Off shoring
Leveraged buyout (LBO)
Operations
primary activities of a business
9. 1 SWOT analysis and environmental scanning 2 Long term objectives 3 Strategies to achieve these objectives are defined
Stakeholders
To achieve competitive advantage and superior profitability
Management Functions
Strategy Development
10. When a corporation is able to combine similar primary value chain activities.
Operational fit
HR functions that can be outsourced
Value chain
Financial Measures
11. Is part of an organization for which there is a distinct external market for goods or services that is different from another SBU
Strategic business unit
Management Functions
Resources leverage
Merger and Acquisition Process
12. A value creating strategy that creates more perceived value by primarily reducing costs
Inferential Statistic
Agency
Unrelated diversification
low-cost strategy
13. 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
Junk bond
Off shoring
Ethics
Maturity
14. 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
primary activities of a business
Introduction
Strategic business management
Maturity
15. Risk associated with macro-economic forces.
SWOT Analysis
value creating operations in the value chain of operation
Strategic business management
Systematic risk
16. The benefits that develop through the extension and application of corporate resources to a newly acquired company.
Organization Structure
Resources leverage
STEEP
Descriptive Statistic
17. Acquisition of a company that operates in the same industry using the same value chain.
Introduction
Horizontal diversification
Cross-sector diversification
generic benchmarking
18. Cost savings accomplished by operating combined companies more efficiently.
Diversification
Core competences
Extended Organization
Economizing
19. These are the detailed steps a unit - department - or team will take in order to achieve the short term objectives.
types of competitive strategies for international businesses
Action Plan
External Benchmarks
Strategic Groups
20. 1. improve bidding success 2. identify competitors key customers 3. identify expansion plans 4. improve understanding of competitors
Market development
Diversification
benefits of competitor intelligence
Cost Leadership
21. It is based on numeric data that is analyzed with statistic method. 1 Descriptive Statistic 2 Inferential Statistic
Holding company
Quantitative Analysis
Critical success factors
Employment Factors
22. Describes the structure of product - service - and information flows and the role of participating parties.
Technological Factors
Balanced scorecards
Market fit
Business model
23. 1 Advances in technology 2 Technological skills 3 The digital divide 4 Process changes
Environmental Scanning
Technological Factors
Stakeholders
Merger and Acquisition Process
24. 1 Capacity 2 Standards 3 Scheduling 4 Inventory 5 Control
Methodologies Of Operations
Code of Ethics
Business Case
Organization Structure
25. Those product features with which a organization must outperform the competition because they are particularly valued by a group of customers.
Strategic capability
Market Penetrati
Critical success factors
Focus
26. Individuals or groups who depend on an organization to fulfill their own goals and on whom - in turn the organization depends.
PESTEL
Stakeholders
HR functions that can be outsourced
Environmental Scanning
27. 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)
Secondary Research
The law making Process
Emergent Strategy
Directing
28. 1 Balance Scorecard
Five Forces
Performance Measures
Cost Leadership
Value chain
29. 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
Strategic business unit (SBU)
Short term Objectives
Value Statement
international strategy
30. Refers to an intensive investigation of all factors surrounding a business decision to ensure that all risks are understood.
Strategic business unit (SBU)
Strategy Development
Due Diligence
Maturity
31. The political - economic - social - technological - environmental - and legal dimensions of an organization's external environment.
International Factors
PESTEL
Action Plan
Organization Structure
32. 1 Charts and graphs 2 Measures of central tendency 3 Measures of variation 4 Measures of association
Financial Measures
Descriptive Statistic
Holding company
Scope
33. They are used to condense and summarize large quantities of data for quick understanding.
Cultural web
Descriptive Statistic
Scenarios
Market fit
34. Organizations within an industry with similar strategic characteristics - following similar strategies or competing on similar bases
Quantitative Analysis
to increase profitability
Strategic Groups
Mid term Objectives
35. Not necessarily considered HR core function like benefits plan administration - payroll administration - and background checks - etc.
Stakeholder mapping
Downscoping
Differentiation
HR functions that can be outsourced
36. Combine both qualitative and quantitative measures - acknowledge the expectations of different stakeholders and relate an assessment of performance to choice of strategy.
Related diversification
Balanced scorecards
Value Statement
Corporate strategy
37. Acquisition of a company in a different industry - but which employs a similar value chain.
internal benchmarking
Takeover
Secondary Research
Cross-sector diversification
38. The categories of activities within and around an organization which together create a product or service.
Demographic Factors
Value chain
Focus
Strategic business unit
39. 1 Strategies are reviewed 2 Performance towards objective is measured 3 Corrective action is taken
bottom-up
Strategy Evaluation
functional benchmarking
Core Values
40. They represent milestones that must be achieved in order to reach the long term objectives. They are usually within 6 months to a year.
Due Diligence
Off shoring
efficiency frontier
Short term Objectives
41. A strategy by which an organisation offers existing products to new markets.
Market development
differentiation
Horizontal diversification
Strategic capability
42. 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. )
Environmental Scanning
value creating operations in the value chain of operation
Business Case
HR functions that can be outsourced
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
bottom-up
Critical success factors
Code of Ethics
Off shoring
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.
internal benchmarking
Horizontal diversification
Strategy Evaluation
Unrelated diversification
45. 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.
Strategy Development
Spin-off
Outsourcing
Scope
46. Often accompanied by backlogs and scheduling problems while the organization adjusts to increase demands. Policies - procedures and rules should begin to be formalized as organization needs increased structure during this phase to operate effectively
Organizing
Business Case
Growth
Unrelated diversification
47. Adhering to set of governing principles whether the philosophy is one of fairness - individual rights - avoiding conflicts of interest or another philosophical grounding.
Ethical Behavior
bottom-up
Economizing
to increase profitability
48. 1 Work Specialization 2 Departmentalization 3 Chain of Command 4 Centralization and Decentralization 5 Formalization
Organization Structure
Mid term Objectives
International Factors
External Benchmarks
49. It can be defined as principles of conduct within an organization that guide decision making and behavior.
Strategic Information Systems
Core Values
Corporate governance
Code of Ethics
50. 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
Cultural web
Performance Measures
Strategic Planning
Corporate strategy