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Business Strategy
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Study First
Subject
:
business-skills
Instructions:
Answer 50 questions in 15 minutes.
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study here
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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 of a set of businesses that share identical or very similar strategies or strategic challenges.
Off shoring
Strategic business unit (SBU)
Strategic Information Systems
to maximize profits
2. When a corporation can take synergistic advantage of administrative and support activities of the value chain in making an acquisition.
Secondary Research
Management fit
Critical success factors
Business strategy
3. 1 Preparation 2 Due Diligence 3 Planning integration of the business entities 4 Implementation - monitoring and measurement
Business Case
Mission Statement
Strategic Planning Phase
Merger and Acquisition Process
4. 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
Private equity firm
Corporate governance
Business Case
International Factors
5. 1 Financial 2 Human 3 Physical 4 Technological
Generational Difference
Unsystematic risk
Resources
Extended Organization
6. 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
Operational fit
Strategic method
International Factors
7. These strategies attempt to set the product or service apart form its competition by giving it unique characteristic that customers value and for which they will be willing to pay a premium price.
Differentiation
Strategic Planning Phase
Controlling
Mission Statement
8. 1 Short term objective 2 Action plan to achieve these objective 3 Allocating resources 4 Motivating employees to manage the plan.
Secondary Research
Descriptive Statistic
differentiation
Strategy Implementation
9. Is the set of internationalization links and relationships that are necessary to create a product or service.
Action Plan
types of competitive strategies for international businesses
Value network
International Factors
10. Where an individual (such as a corporate officer) acts on behalf of someone else (such as a shareholder)
primary activities of a business
Decline
Agency
Strategic Planning Phase
11. The decisions made and the direction provided for managing multiple business units under a single corporate umbrella.
Strategic method
Vertical diversification
Controlling
Corporate strategy
12. A strategy by which an organization peruses new product offerings and new markets.
SWOT Analysis
Management fit
Ethics
Diversification
13. These objectives are generally achieved within 3 to 5 years. Establishing these objectives provides direction - synergy and aids in establishing guidelines for evaluation.
Environmental scanning
Technological Factors
Mid term Objectives
Long term Objectives
14. 1 Statement of the problem 2 Objectives 3 Description of potential solution 4 Project Time line 5 Project Metrics.
Vision Statement
Organization Structure
Diversification
Parts of Business Case
15. Processes and activities used to formulate HR objectives - practices - and policies.
Strategic business management
internal benchmarking
Corporate strategy
CLO
16. 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
functional benchmarking
support activities of a business
Business strategy
Junk bond
17. Comparing a the firms operations with a direct competitor
Descriptive Statistic
external benchmarking
Cost Leadership
Internal Benchmarks
18. When a corporation is able to combine similar primary value chain activities.
Technological Factors
Decline
Operational fit
Cultural web
19. The resources and competences of an organization needed for it to survive and prosper.
SMART Goals
Corporate social responsibility
Controlling
Strategic capability
20. 1 SWOT analysis and environmental scanning 2 Long term objectives 3 Strategies to achieve these objectives are defined
Private equity firm
Strategy Development
Conglomerate
Strategic business management
21. A corporation that owns a large number of businesses that are different sizes and operate in different industry sectors.
external benchmarking
Planning
Conglomerate
Scenarios
22. It describes what is important to an organization and often dictate employee behavior. They are the heart of the culture of an organization.
STEEP
Value Statement
Diversification
Purpose of benchmarks
23. A strategy by which an organisation offers existing products to new markets.
Market development
internal benchmarking
Holding company
Mid term Objectives
24. It is a vivid - guiding image of the organization's desired future. It is the ultimate picture of what leadership envisions for the organization.
Performance Measures
PESTEL
key to success in strategic planning
Vision Statement
25. 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
Purpose of benchmarks
Ethical Behavior
Ethics
26. 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
Introduction
Corporate governance
Strategies at three levels
international strategy
27. Studying the future and arranging the means for dealing with it - which encompass forecasting - selling goals - and determining actions. eg: Forecasting future staffing needs.
value creating operations in the value chain of operation
Planning
Vertical diversification
Diversification
28. 1 Population 2 Sample 3 Normal Distribution
Parts of Business Case
Inferential Statistic
Operational fit
Corporate social responsibility
29. 1 Strategy Formulation 2 Strategy Development 3 Strategy Implementation 4 Strategy Evaluation
functional benchmarking
Strategic Planning Phase
external benchmarking
Economic Factors
30. 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
Technological Factors
Stakeholder mapping
Growth
Maturity
31. When a corporation can take synergistic advantage of relationships with suppliers and/or customers in making an acquisition.
Internal Benchmarks
Short term Objectives
Market fit
Strategic Planning
32. A value creating strategy that primary increases perceived value by increasing attractiveness of product
differentiation
Vision Statement
Diversification
Operations
33. 1. R&D 2. production 3. marketing and sales 4. customer service
Environmental scanning
primary activities of a business
Technological Factors
Holding company
34. Ability to broaden a product line or a customer base achieved through an acquisition.
Vertical diversification
Outsourcing
Scope
STEEP
35. 1. talking to competitors - customers - and distributors 2. testing competitors products 3. view competitors exhibits at trade shows
Decline
common practices when analyzing your competition
Code of Ethics
Market Penetrati
36. 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.
Operations
Downscoping
Strategic capability
Market Penetrati
37. Describes the structure of product - service - and information flows and the role of participating parties.
SMART Goals
Conglomerate
Business model
Introduction
38. Corporation that owns the majority of voting shares of other companies - but that allows the other companies to operate as independent entities.
Spin-off
Holding company
Merger and Acquisition Process
Operational fit
39. A process where a company is bought primarily using debt. Typically engineered by management of the company - or by private equity firms.
Strategic method
Leveraged buyout (LBO)
Private equity firm
Value chain
40. 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
CLO
top-down
Vertical diversification
Secondary Research
41. 1 Cost Benefit Analysis 2 Return On Investment 3 Breakeven Analysis 4 Financial Statement Analysis
Strategy Formulation
Methodologies Of Operations
Economic Factors
Financial Measures
42. 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
Inferential Statistic
to maximize profits
differentiation
Marketing Mix
43. Acquisition of another company upstream (supplier) or downstream (buyer) in the value chain of the same industry in which the corporation operates.
Unrelated diversification
Vertical diversification
Resources
Systematic risk
44. 1 Balance Scorecard
Value chain
Business model
Generational Difference
Performance Measures
45. 1 Demographic Factors 2 Economic Factors 3 Employment Factors 4 International Factors 5 Political Factors 6 Social Factors 7 Technological Factors
Factors that affect external environment
Market fit
Ethics
Cost Leadership
46. 1 Attitudes towards career 2 Immigration 3 Occupational and industry skills 4 Recruitment 5 Unions 6 Unemployment 7 Turnover 8 Relocation
Employment Factors
Five Forces
Value Statement
Short term Objectives
47. Risk associated with a particular business.
Code of Ethics
Scope
Junk bond
Unsystematic risk
48. It uses data already gathered by others and reported in various sources.
Secondary Research
Spin-off
Horizontal diversification
Decline
49. 1 Organizational Strategy 2 Business unit strategy 3 Functional Strategy
value creating operations in the value chain of operation
Private equity firm
Environmental Scanning
Strategies at three levels
50. They represent milestones that must be achieved in order to reach the long term objectives. They are usually within 6 months to a year.
Short term Objectives
international strategy
Differentiation
Ethical Behavior
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