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






2. When a corporation reduces its level of diversification and strategically refocuses on core businesses where the synergies of scope - economizing - and leverage are more evident and more easily realized.






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






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






5. 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.






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






7. 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.






8. 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.






9. 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.






10. primary activities and support activities






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






12. 1 Organizational Strategy 2 Business unit strategy 3 Functional Strategy






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






14. 1 Preparation 2 Due Diligence 3 Planning integration of the business entities 4 Implementation - monitoring and measurement






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






16. 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.






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






18. 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






19. 1. multinational 2. global 3. transnational






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






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






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






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






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






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






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






27. 1 Interest Rates 2 Gross Domestic Product (GDP) 3 Consumer Price Index (CPI) 4 Disposable Income 5 Inflation






28. 1 Demographic Factors 2 Economic Factors 3 Employment Factors 4 International Factors 5 Political Factors 6 Social Factors 7 Technological Factors






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






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






31. The central focus of the department is the provision of goods and services to the customer. Basically this department must ensure that the product/service is produced and delivered to the customer.






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






33. Comparing similar functional firms in your industry






34. 1 The rule is proposed 2 Public comment is invited 3 The final rule is issued






35. The organization relies on high energy and creativity. Attempts to develop products and services - decision may be made to use experiences staff so training is not an integral part of this phase. may meet or exceed the standard pay range to recruit






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






37. 1 Population 2 Sample 3 Normal Distribution






38. 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)






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






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






41. A strategy by which an organization takes increased share of its existing markets with its existing product range.






42. 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.






43. 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






44. It is a systematic process of gathering and analyzing all relevant data about external opportunities (emerging marketplace - additional capabilities provided through new technology.) and threats (emerging competition - shifts in marketplaces. )






45. Refers to an intensive investigation of all factors surrounding a business decision to ensure that all risks are understood.






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






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






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






49. 1 Strategies are reviewed 2 Performance towards objective is measured 3 Corrective action is taken






50. 1 Strategy Formulation 2 Strategy Development 3 Strategy Implementation 4 Strategy Evaluation