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. 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






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






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






4. Comparing operations in totally unrelated industries






5. Comparing similar functional firms in your industry






6. 1. improve bidding success 2. identify competitors key customers 3. identify expansion plans 4. improve understanding of competitors






7. Information systems with a charter to achieve competitive superiority.






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






9. 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






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






11. It specifies what activities the organization intends to pursue and what course of management has charted for the future. It provides general outline of how the organization will achieve the vision. It includes who the company is - what the company






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






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






14. A value creating strategy that primary increases perceived value by increasing attractiveness of product






15. Specific - Measurable - Attainable - Realistic - Timely






16. These objectives are generally achieved within 3 to 5 years. Establishing these objectives provides direction - synergy and aids in establishing guidelines for evaluation.






17. 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)






18. 1 Strategies are reviewed 2 Performance towards objective is measured 3 Corrective action is taken






19. 1 Population 2 Sample 3 Normal Distribution






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






21. Risk associated with a particular business.






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






23. Comparing 1 operation in the firm with another






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






25. 1 The rule is proposed 2 Public comment is invited 3 The final rule is issued






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






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






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






29. 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






30. It refers to relocation of processes or functions from a home country to another country and it appeals to organization for cost saving.






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






32. 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.






33. 1 Attitudes towards career 2 Immigration 3 Occupational and industry skills 4 Recruitment 5 Unions 6 Unemployment 7 Turnover 8 Relocation






34. 1 Introduction 2 Growth 3 Maturity 4 Decline






35. 1 Vision and mission 2 Value Statement






36. 1 Planning 2 Organizing 3 Directing 4 Controlling






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






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






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






40. 1 Statement of the problem 2 Objectives 3 Description of potential solution 4 Project Time line 5 Project Metrics.






41. Private (nonpublic) corporations or partnerships that use their financial resources to engineer buyouts and acquisitions of other companies.






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






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






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






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






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






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






48. 1 Age 2 Gender 3 Generational Difference 4 Geographic shifts in population 5 Ethnicity 6 Unskilled Labor 7 Non traditional labor force






49. Value - Exploit - Rare - Imitate - Substitute






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