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 in a different industry - but which employs a similar value chain.






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






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






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






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






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






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






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






9. When a corporation enters a new business in a different industry from that in which it currently operates and does not expect to achieve any value chain synergies through the combination.






10. 1 Vision and mission 2 Value Statement






11. 1 Traditional Generation 2 Baby Boom Generation 3 Generation X 4 Generation Y






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






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






14. 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.






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 Balance Scorecard






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






18. 1 Population 2 Sample 3 Normal Distribution






19. 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.






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






21. 1 Financial 2 Human 3 Physical 4 Technological






22. 1 Statement of the problem 2 Objectives 3 Description of potential solution 4 Project Time line 5 Project Metrics.






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. 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






25. Comparing a the firms operations with a direct competitor






26. The types of decisions made and direction created for a single business






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






28. 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.






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






30. The choices made through the 4 Ps : Product - Price - Place and Promotion are what makes a product or service unique. This is distinctive blend of marketing decision.






31. 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






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






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






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






35. 1 Age 2 Gender 3 Generational Difference 4 Geographic shifts in population 5 Ethnicity 6 Unskilled Labor 7 Non traditional labor force






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






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






38. Individuals or groups who depend on an organization to fulfill their own goals and on whom - in turn the organization depends.






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. 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)






41. 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






42. 1 Capacity 2 Standards 3 Scheduling 4 Inventory 5 Control






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






44. 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






45. Shows the behavioral - physical and symbolic manifestations of a culture that inform and are informed by the taken-for-granted assumptions - or paradigm - of an organisation






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






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






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






49. 1 Short term objective 2 Action plan to achieve these objective 3 Allocating resources 4 Motivating employees to manage the plan.






50. 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