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






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






3. Comparing 1 operation in the firm with another






4. 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.






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






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






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






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






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






10. 1 Preparation 2 Due Diligence 3 Planning integration of the business entities 4 Implementation - monitoring and measurement






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






12. Comparing a the firms operations with a direct competitor






13. 1 Strategy Formulation 2 Strategy Development 3 Strategy Implementation 4 Strategy Evaluation






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






15. 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






16. 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






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






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






19. 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.






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






21. 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.






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






23. 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






24. 1 Short term objective 2 Action plan to achieve these objective 3 Allocating resources 4 Motivating employees to manage the plan.






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






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






27. 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






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






29. 1 Global Economy 2 Wage comparison 3 Trade Agreement 4 International Labor Law






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






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






32. 1 Cost Benefit Analysis 2 Return On Investment 3 Breakeven Analysis 4 Financial Statement Analysis






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. Cost savings accomplished by operating combined companies more efficiently.






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






36. Specific - Measurable - Attainable - Realistic - Timely






37. 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"






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






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






40. Cut costs - add value - or increase prices






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






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






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






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






45. 1 Capacity 2 Standards 3 Scheduling 4 Inventory 5 Control






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






47. 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






48. 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






49. Comparing similar functional firms in your industry






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