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. 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.






2. 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)






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






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






5. The underlying principles that guide an organization's strategy






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






7. Divestiture in which a corporation creates a new company out of one of its businesses. The new company has its own shares of stock and shareholders - and its own board of directors. Typically - shareholders of the corporation will receive newly iss






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






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






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






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






12. 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






13. 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






14. Business remain separate entities but may appear to outsiders as one entity. Commonly formed through the use of outsourcing.






15. Comparing 1 operation in the firm with another






16. Comparing similar functional firms in your industry






17. 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






18. Suppliers - buyers - competitive rivalry - product substitutes and potential entrants; reinforces the importance of economic theory; analytical tool of previously lacking the field of strategy; determines the nature/level of competition and profit






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






20. A tool to help you think about the wider issues that have an impact on the industry or service area as a whole - taking five main categories into account: Socio-cultural - Technological - Economic - Environmental - Political






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






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






23. 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.






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






25. 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






26. 1 Traditional Generation 2 Baby Boom Generation 3 Generation X 4 Generation Y






27. 1 Capacity 2 Standards 3 Scheduling 4 Inventory 5 Control






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






29. A value creating strategy that creates more perceived value by primarily reducing costs






30. 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.






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






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






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






34. 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.






35. 1 Planning 2 Organizing 3 Directing 4 Controlling






36. 1 Preparation 2 Due Diligence 3 Planning integration of the business entities 4 Implementation - monitoring and measurement






37. Specific - Measurable - Attainable - Realistic - Timely






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






39. 1 Organizational Strategy 2 Business unit strategy 3 Functional Strategy






40. To achieve cost advantage - an organization has to be the low cost producer in its industry.The finished products of low cost producers are sold at prices that beat the competition. These industries depend on volume to provide profit and is less bra






41. 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.






42. 1 Statement of the problem 2 Objectives 3 Description of potential solution 4 Project Time line 5 Project Metrics.






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






44. A process where a large group of shareholders vote in new members to the board of directors - with the result that the new board can make changes in the company's management.






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






46. Comparing a the firms operations with a direct competitor






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






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






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






50. 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.