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. Independent & entrepreneurial - adopts a more flexible approach to their international operations - More sensitive & responsive to local environment






2. 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






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






4. Comparing 1 operation in the firm with another






5. 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






6. 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






7. 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






8. Describes the structure of product - service - and information flows and the role of participating parties.






9. 1 Charts and graphs 2 Measures of central tendency 3 Measures of variation 4 Measures of association






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






11. The political - economic - social - technological - environmental - and legal dimensions of an organization's external environment.






12. 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






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






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






15. primary activities and support activities






16. 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.






17. The central focus of the department is the provision of goods and services to the customer. Basically this department must ensure that the product/service is produced and delivered to the customer.






18. Comparing a the firms operations with a direct competitor






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






20. Combine both qualitative and quantitative measures - acknowledge the expectations of different stakeholders and relate an assessment of performance to choice of strategy.






21. 1 Demographic Factors 2 Economic Factors 3 Employment Factors 4 International Factors 5 Political Factors 6 Social Factors 7 Technological Factors






22. 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.






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






24. 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. )






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






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






27. 1 Statement of the problem 2 Objectives 3 Description of potential solution 4 Project Time line 5 Project Metrics.






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






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






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






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






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






33. 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






34. 1 Balance Scorecard






35. Risk associated with macro-economic forces.






36. 1 Short term objective 2 Action plan to achieve these objective 3 Allocating resources 4 Motivating employees to manage the plan.






37. 1 Capacity 2 Standards 3 Scheduling 4 Inventory 5 Control






38. 1 Attitudes towards career 2 Immigration 3 Occupational and industry skills 4 Recruitment 5 Unions 6 Unemployment 7 Turnover 8 Relocation






39. 1 Global Economy 2 Wage comparison 3 Trade Agreement 4 International Labor Law






40. 1 Organizational Strategy 2 Business unit strategy 3 Functional Strategy






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






42. 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






43. A company in which 70-95% of revenue comes from a single business






44. A process where a company is bought primarily using debt. Typically engineered by management of the company - or by private equity firms.






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






46. A corporation that owns a large number of businesses that are different sizes and operate in different industry sectors.






47. 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






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






49. A strategy by which an organization takes increased share of its existing markets with its existing product range.






50. 1 Experiments 2 Pilot Projects 3 Surveys/questionnaires 4 Interviews (exit - panel - individual) 5 Focus group 6 Direct observation 7 Testing