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






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






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






4. 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






5. 1 Advances in technology 2 Technological skills 3 The digital divide 4 Process changes






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






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






8. Internal Benchmarks establish levels of current performance of a particular tasks - such as cost per hire.






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






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






11. 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.






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






13. 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






14. 1 Traditional Generation 2 Baby Boom Generation 3 Generation X 4 Generation Y






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






16. 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






17. 1 Population 2 Sample 3 Normal Distribution






18. Detailed and plausible views of how the business environment of an organization might develop in the future based on key drivers for change about which there is a high level of uncertainty






19. 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






20. Organizations within an industry with similar strategic characteristics - following similar strategies or competing on similar bases






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






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






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






24. 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






25. 1 SWOT analysis and environmental scanning 2 Long term objectives 3 Strategies to achieve these objectives are defined






26. Value - Exploit - Rare - Imitate - Substitute






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






28. 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






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






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






31. 1 Attitudes towards career 2 Immigration 3 Occupational and industry skills 4 Recruitment 5 Unions 6 Unemployment 7 Turnover 8 Relocation






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






33. 1 Strategy Formulation 2 Strategy Development 3 Strategy Implementation 4 Strategy Evaluation






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. A participative approach to planning in which there is involvement at all levels; plans are developed at the lower levels of an organisation and funnelled up through consecutive levels until they reach top management - advantage:People are responsibl






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






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






38. 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.






39. 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.






40. 1. multinational 2. global 3. transnational






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






42. Risk associated with macro-economic forces.






43. 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






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






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






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






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






48. 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






49. 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"






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