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 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.






2. 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.






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






4. 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






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






6. 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






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. 1 They can help to identify improvements in an organization's performance that can be attributed to the projects 2 They can suggest appropriate targets for improvement to be included in project objectives.






9. 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.






10. It uses data already gathered by others and reported in various sources.






11. 1. multinational 2. global 3. transnational






12. Risk associated with macro-economic forces.






13. Comparing a the firms operations with a direct competitor






14. Is the means by which a strategy can be pursued.






15. 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






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






17. The political - economic - social - technological - environmental - and legal dimensions of an organization's external environment.






18. 1 Attitudes towards career 2 Immigration 3 Occupational and industry skills 4 Recruitment 5 Unions 6 Unemployment 7 Turnover 8 Relocation






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






21. 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"






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






23. 1 Planning 2 Organizing 3 Directing 4 Controlling






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






25. Scheduling problems are largely resolved - and staffing and organizational culture begin to stabilize. Policies - procedures and rules are formalized and communicated to all employees. Training gains added emphasis in this phase to maintain flexibi






26. Quality of information and interpretation of it






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






28. 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)






29. 1 Demographic Factors 2 Economic Factors 3 Employment Factors 4 International Factors 5 Political Factors 6 Social Factors 7 Technological Factors






30. It is a process not just written project plan that helps an organization focus on how to succeed in the future - where the company is now? - where does the company want to go? - How will the company get there?






31. 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






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






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






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






35. 1 SWOT analysis and environmental scanning 2 Long term objectives 3 Strategies to achieve these objectives are defined






36. They are often based on industry best practice.






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






38. 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






39. 1 Age 2 Gender 3 Generational Difference 4 Geographic shifts in population 5 Ethnicity 6 Unskilled Labor 7 Non traditional labor force






40. The decisions made and the direction provided for managing multiple business units under a single corporate umbrella.






41. 1 Population 2 Sample 3 Normal Distribution






42. 1 Charts and graphs 2 Measures of central tendency 3 Measures of variation 4 Measures of association






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






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






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






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






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






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






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






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