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. A strategy by which an organization peruses new product offerings and new markets.






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. The benefits that develop through the extension and application of corporate resources to a newly acquired company.






5. 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.






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






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






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






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






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






11. They are often based on industry best practice.






12. When a corporation is able to combine similar primary value chain activities.






13. A merger or acquisition where there is some similarity of industry and/or value chain between the corporation and the company it seeks to acquire.






14. 1 Global Economy 2 Wage comparison 3 Trade Agreement 4 International Labor Law






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






16. 1 SWOT analysis and environmental scanning 2 Long term objectives 3 Strategies to achieve these objectives are defined






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






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






19. 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






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






21. Comparing 1 operation in the firm with another






22. Risk associated with macro-economic forces.






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






24. Adhering to set of governing principles whether the philosophy is one of fairness - individual rights - avoiding conflicts of interest or another philosophical grounding.






25. 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.






26. It is simple and effective process for collecting information on the organization's current state. It answers four basic question.






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






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






29. Collateralized Loan Obligation. Large pool of bank loans bundled together by financial services firms and sold off to investors in slices - with the goal to spread default risk "an inch deep and a mile wide"






30. When a corporation can take synergistic advantage of relationships with suppliers and/or customers in making an acquisition.






31. Specific - Measurable - Attainable - Realistic - Timely






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






33. 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)






34. 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.






35. Organization that follow this approach are not competing in an established market. They see themselves as a creating entirely new value. This strategy values innovation - creativity and rule breaking.






36. 1 Strategy Formulation 2 Strategy Development 3 Strategy Implementation 4 Strategy Evaluation






37. 1 Cost Benefit Analysis 2 Return On Investment 3 Breakeven Analysis 4 Financial Statement Analysis






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






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






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






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






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






43. 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






44. These are the detailed steps a unit - department - or team will take in order to achieve the short term objectives.






45. 1 The rule is proposed 2 Public comment is invited 3 The final rule is issued






46. 1 Experiments 2 Pilot Projects 3 Surveys/questionnaires 4 Interviews (exit - panel - individual) 5 Focus group 6 Direct observation 7 Testing






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






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






49. 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






50. 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.