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






2. Specific - Measurable - Attainable - Realistic - Timely






3. primary activities and support activities






4. Ability to broaden a product line or a customer base achieved through an acquisition.






5. 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






6. They are used to condense and summarize large quantities of data for quick understanding.






7. 1 Planning 2 Organizing 3 Directing 4 Controlling






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






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






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






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






12. 1 Vision and mission 2 Value Statement






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






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






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






16. Value - Exploit - Rare - Imitate - Substitute






17. 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






18. Organization become entrenched in rules and policies and leadership become resistant to change. series of efforts to turn the tide such as product enhancement or cost reduction programs. If unsuccessful in these then will focus on reducing workforce






19. 1 Traditional Generation 2 Baby Boom Generation 3 Generation X 4 Generation Y






20. Serve the purpose similar to short term objectives but are completed in 1 to 3 years.






21. 1 Age 2 Gender 3 Generational Difference 4 Geographic shifts in population 5 Ethnicity 6 Unskilled Labor 7 Non traditional labor force






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






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






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






25. 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






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






27. 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






28. 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.






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






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. 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.






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






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






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






35. 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






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






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






38. 1. a graph demonstrating the different positions a firm can adopt in creating value 2. compares value and differentiation (Y) versus high cost to low cost (x)






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






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






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






42. Special Purpose Acquisition Company. Empty-shell firms that promise to buy businesses with the proceeds of their initial public stock offerings.






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






44. 1 Financial 2 Human 3 Physical 4 Technological






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






46. 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.






47. 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






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






49. It describes what is important to an organization and often dictate employee behavior. They are the heart of the culture of an organization.






50. When a corporation reduces its level of diversification and strategically refocuses on core businesses where the synergies of scope - economizing - and leverage are more evident and more easily realized.