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Test your basic knowledge |
Business Strategy
Start Test
Study First
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 Charts and graphs 2 Measures of central tendency 3 Measures of variation 4 Measures of association
Descriptive Statistic
primary activities of a business
Corporate governance
Core Values
2. Independent & entrepreneurial - adopts a more flexible approach to their international operations - More sensitive & responsive to local environment
Systematic risk
Planning
Decline
mentality of a MNC manager
3. 1 Short term objective 2 Action plan to achieve these objective 3 Allocating resources 4 Motivating employees to manage the plan.
Strategy Implementation
internal benchmarking
Economic Factors
Purpose of benchmarks
4. Information systems with a charter to achieve competitive superiority.
Strategy Evaluation
Corporate social responsibility
Strategic Information Systems
Primary Research
5. 1 Work Specialization 2 Departmentalization 3 Chain of Command 4 Centralization and Decentralization 5 Formalization
Primary Research
Off shoring
mentality of a MNC manager
Organization Structure
6. Ensuring that everything is carried out according to the plan. Eg: Measuring recruiting efforts and effectiveness.
Systematic risk
Ethical Behavior
Management fit
Controlling
7. Is concerned with the structures and systems of control by which managers are held accountable to those who have a legitimate stake an organization.
Corporate governance
Strategic method
Controlling
International Factors
8. 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
common practices when analyzing your competition
The law making Process
Resources
Spin-off
9. 1 Traditional Generation 2 Baby Boom Generation 3 Generation X 4 Generation Y
Downscoping
Generational Difference
key to success in strategic planning
Unsystematic risk
10. 1 Global Economy 2 Wage comparison 3 Trade Agreement 4 International Labor Law
International Factors
Market Penetrati
types of competitive strategies for international businesses
Marketing Mix
11. 1 Preparation 2 Due Diligence 3 Planning integration of the business entities 4 Implementation - monitoring and measurement
External Benchmarks
Strategy Evaluation
Merger and Acquisition Process
Core Values
12. Economic - legal resp. - ethical - and discretionary
type of responsibilities of a business
Business Life Cycle Phases
STEEP
Marketing Mix
13. Specific - Measurable - Attainable - Realistic - Timely
Strategic capability
International Factors
SMART Goals
HR functions that can be outsourced
14. The types of decisions made and direction created for a single business
Business strategy
Organizing
Corporate strategy
low-cost strategy
15. 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.
Long term Objectives
Ethical Behavior
Business Case
Balanced scorecards
16. Organization become entrenched in rules and policies and leadership become resistant to change. series of efforts to turn the tide such as product enhancement or cost reduction programs. If unsuccessful in these then will focus on reducing workforce
Cost Leadership
Strategic method
Decline
Diversification
17. 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
Merger and Acquisition Process
Unrelated diversification
Cultural web
Core competences
18. A strategy by which an organization peruses new product offerings and new markets.
The law making Process
Diversification
Business Life Cycle Phases
Organization Structure
19. 1 Demographic Factors 2 Economic Factors 3 Employment Factors 4 International Factors 5 Political Factors 6 Social Factors 7 Technological Factors
Long term Objectives
Cost Leadership
Factors that affect external environment
Performance Measures
20. Serve the purpose similar to short term objectives but are completed in 1 to 3 years.
Cost Leadership
to increase profitability
Mid term Objectives
Leveraged buyout (LBO)
21. Organizations within an industry with similar strategic characteristics - following similar strategies or competing on similar bases
PESTEL
HR functions that can be outsourced
Strategic Groups
Cross-sector diversification
22. Acquisition of another company upstream (supplier) or downstream (buyer) in the value chain of the same industry in which the corporation operates.
Quantitative Analysis
Business strategy
Vertical diversification
CLO
23. Comparing operations in totally unrelated industries
Holding company
Dominant business
generic benchmarking
Vertical diversification
24. 1 Organizational Strategy 2 Business unit strategy 3 Functional Strategy
key to success in strategic planning
Five Forces
Strategies at three levels
PESTEL
25. It involves data that is gathered firsthand for the specific evaluation being conduced.
Core Values
Economizing
Primary Research
Performance Measures
26. 1 The rule is proposed 2 Public comment is invited 3 The final rule is issued
Outsourcing
Strategic method
The law making Process
Technological Factors
27. 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.
Value chain
Related diversification
Junk bond
Demographic Factors
28. 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
Value chain
primary activities of a business
Growth
Strategy Formulation
29. 1 Advances in technology 2 Technological skills 3 The digital divide 4 Process changes
Technological Factors
Stakeholders
skills businesses need to create competitive advantage
Cost Leadership
30. Special Purpose Acquisition Company. Empty-shell firms that promise to buy businesses with the proceeds of their initial public stock offerings.
top-down
SPAC
Horizontal diversification
external benchmarking
31. Is part of an organization for which there is a distinct external market for goods or services that is different from another SBU
Economic Factors
To achieve competitive advantage and superior profitability
efficiency frontier
Strategic business unit
32. 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"
Vertical diversification
Market development
Core Values
CLO
33. 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
Emergent Strategy
key to success in strategic planning
Resources
Vision Statement
34. Describes the structure of product - service - and information flows and the role of participating parties.
Business Case
Purpose of benchmarks
Business model
Strategic business management
35. 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)
Secondary Research
Core competences
types of competitive strategies for international businesses
Extended Organization
36. 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
HR functions that can be outsourced
Business Case
type of responsibilities of a business
Quantitative Analysis
37. 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.
common practices when analyzing your competition
Strategic business unit
Organizing
generic benchmarking
38. 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
Cultural web
Scope
STEEP
Core competences
39. Acquisition of a company that operates in the same industry using the same value chain.
value creating operations in the value chain of operation
Corporate social responsibility
Horizontal diversification
Five Forces
40. 1. improve bidding success 2. identify competitors key customers 3. identify expansion plans 4. improve understanding of competitors
Directing
benefits of competitor intelligence
Environmental Scanning
to obtain profit growth
41. When a corporation can take synergistic advantage of relationships with suppliers and/or customers in making an acquisition.
Cost Leadership
Market fit
The law making Process
Takeover
42. 1 Interest Rates 2 Gross Domestic Product (GDP) 3 Consumer Price Index (CPI) 4 Disposable Income 5 Inflation
Decline
Market development
SWOT Analysis
Economic Factors
43. It is based on numeric data that is analyzed with statistic method. 1 Descriptive Statistic 2 Inferential Statistic
Quantitative Analysis
Strategic Planning Phase
Vision Statement
efficiency frontier
44. Internal Benchmarks establish levels of current performance of a particular tasks - such as cost per hire.
Strategic Planning Phase
Internal Benchmarks
Primary Research
Junk bond
45. Is the means by which a strategy can be pursued.
Strategic method
Systematic risk
STEEP
Diversification
46. 1 Cost Leadership 2 Differentiation 3 Focus
Secondary Research
value creating operations in the value chain of operation
Porters Competitive Strategies
Value chain
47. Engaging in those activities that ensure effective operation - including leadership and motivation pf employee action towards goals. eg : Scheduling and conducting interview.
Directing
common practices when analyzing your competition
mentality of MNC
International Factors
48. 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
international strategy
Differentiation
Demographic Factors
Value network
49. Comparing a the firms operations with a direct competitor
Demographic Factors
mentality of a MNC manager
external benchmarking
Dominant business
50. 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
value creating operations in the value chain of operation
Methodologies Of Operations
top-down
Introduction