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. 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






2. 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






3. 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






4. Comparing a the firms operations with a direct competitor






5. Is the set of internationalization links and relationships that are necessary to create a product or service.






6. 1 Advances in technology 2 Technological skills 3 The digital divide 4 Process changes






7. Value - Exploit - Rare - Imitate - Substitute






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






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






10. 1 Global Economy 2 Wage comparison 3 Trade Agreement 4 International Labor Law






11. 1. multinational 2. global 3. transnational






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






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






15. 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.






16. 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






17. 1 Attitudes towards career 2 Immigration 3 Occupational and industry skills 4 Recruitment 5 Unions 6 Unemployment 7 Turnover 8 Relocation






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






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






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






21. 1 Population 2 Sample 3 Normal Distribution






22. 1 Work Specialization 2 Departmentalization 3 Chain of Command 4 Centralization and Decentralization 5 Formalization






23. 1 Financial 2 Human 3 Physical 4 Technological






24. 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






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






26. Is concerned with the structures and systems of control by which managers are held accountable to those who have a legitimate stake an organization.






27. 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






28. 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.






29. 1 Historical Data (HR records - census records) 2 Benchmarking and best practices reports 3 Purchased Data ( Gallup or Roper data) 4 Professional Journals - Books - and other media 5 Secondhand reports (grapevine reports)






30. Acquisition of a company in a different industry - but which employs a similar value chain.






31. Comparing similar functional firms in your industry






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






33. 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






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






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






36. 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






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






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






39. Economic - legal resp. - ethical - and discretionary






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






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






42. 1 Short term objective 2 Action plan to achieve these objective 3 Allocating resources 4 Motivating employees to manage the plan.






43. Those product features with which a organization must outperform the competition because they are particularly valued by a group of customers.






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






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






46. 1 Strategies are reviewed 2 Performance towards objective is measured 3 Corrective action is taken






47. 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.






48. 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.






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






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