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. 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






2. The underlying principles that guide an organization's strategy






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






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






5. Specific - Measurable - Attainable - Realistic - Timely






6. 1 Interest Rates 2 Gross Domestic Product (GDP) 3 Consumer Price Index (CPI) 4 Disposable Income 5 Inflation






7. 1 Charts and graphs 2 Measures of central tendency 3 Measures of variation 4 Measures of association






8. These strategy requires that organizations focus on a particular buyer group - segment of the product line or geographical market within an industry. It is build around serving particular target to the exclusion of others.






9. 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






10. A value creating strategy that creates more perceived value by primarily reducing costs






11. Acquisition of another company upstream (supplier) or downstream (buyer) in the value chain of the same industry in which the corporation operates.






12. It is a process not just written project plan that helps an organization focus on how to succeed in the future - where the company is now? - where does the company want to go? - How will the company get there?






13. It involves data that is gathered firsthand for the specific evaluation being conduced.






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






15. 1 Capacity 2 Standards 3 Scheduling 4 Inventory 5 Control






16. 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






17. A process where a large group of shareholders vote in new members to the board of directors - with the result that the new board can make changes in the company's management.






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






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






20. Refers to an intensive investigation of all factors surrounding a business decision to ensure that all risks are understood.






21. They are often based on industry best practice.






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






24. 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.






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






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






27. primary activities and support activities






28. 1 Traditional Generation 2 Baby Boom Generation 3 Generation X 4 Generation Y






29. Comparing a the firms operations with a direct competitor






30. 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






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






32. 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.






33. 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.






34. 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






35. 1. choose a viable position on efficiency frontier 2. configure its internal ops to support the chosen position 3.ensure firm has the right orginizational structure in place to execute its strategy






36. 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.






37. Cut costs - add value - or increase prices






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






39. Views the world as its unit of analysis - Plants are built to provide local marketing advantages - recognizes the importance of being flexible at the country-level operations - more responsive to local needs






40. 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






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






42. 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






43. 1 Preparation 2 Due Diligence 3 Planning integration of the business entities 4 Implementation - monitoring and measurement






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






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






46. 1 Vision and mission 2 Value Statement






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






48. These objectives are generally achieved within 3 to 5 years. Establishing these objectives provides direction - synergy and aids in establishing guidelines for evaluation.






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






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