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. 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






2. These are the detailed steps a unit - department - or team will take in order to achieve the short term objectives.






3. primary activities and support activities






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






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






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. 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






8. 1 The rule is proposed 2 Public comment is invited 3 The final rule is issued






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






10. Comparing a the firms operations with a direct competitor






11. 1 Cost Benefit Analysis 2 Return On Investment 3 Breakeven Analysis 4 Financial Statement Analysis






12. 1 Work Specialization 2 Departmentalization 3 Chain of Command 4 Centralization and Decentralization 5 Formalization






13. 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.






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






15. 1 Charts and graphs 2 Measures of central tendency 3 Measures of variation 4 Measures of association






16. The resources and competences of an organization needed for it to survive and prosper.






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






18. They are often based on industry best practice.






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






20. 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?






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






22. Risk associated with macro-economic forces.






23. 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






24. 1 Strategy Formulation 2 Strategy Development 3 Strategy Implementation 4 Strategy Evaluation






25. 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






26. 1 Capacity 2 Standards 3 Scheduling 4 Inventory 5 Control






27. 1 SWOT analysis and environmental scanning 2 Long term objectives 3 Strategies to achieve these objectives are defined






28. 1 Balance Scorecard






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






30. 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






31. Value - Exploit - Rare - Imitate - Substitute






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






33. When a corporation can take synergistic advantage of administrative and support activities of the value chain in making an acquisition.






34. 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






35. It is a system of moral principles and values that establish appropriate conduct.






36. 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.






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






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






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






40. 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






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






42. 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.






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






44. Sell more in existing markets - or enter new markets






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. 1. talking to competitors - customers - and distributors 2. testing competitors products 3. view competitors exhibits at trade shows






47. 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.






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






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






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