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






2. Economic - legal resp. - ethical - and discretionary






3. Serve the purpose similar to short term objectives but are completed in 1 to 3 years.






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






5. 1 Introduction 2 Growth 3 Maturity 4 Decline






6. 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. )






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






8. 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.






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






10. Risk associated with macro-economic forces.






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






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






13. 1 Population 2 Sample 3 Normal Distribution






14. Quality of information and interpretation of it






15. 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






16. 1 Interest Rates 2 Gross Domestic Product (GDP) 3 Consumer Price Index (CPI) 4 Disposable Income 5 Inflation






17. 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.






18. It specifies what activities the organization intends to pursue and what course of management has charted for the future. It provides general outline of how the organization will achieve the vision. It includes who the company is - what the company






19. Cut costs - add value - or increase prices






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






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






22. 1. R&D 2. production 3. marketing and sales 4. customer service






23. 1 Statement of the problem 2 Objectives 3 Description of potential solution 4 Project Time line 5 Project Metrics.






24. 1 Preparation 2 Due Diligence 3 Planning integration of the business entities 4 Implementation - monitoring and measurement






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






26. Acquisition of a company that operates in the same industry using the same value chain.






27. 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






28. 1 Balance Scorecard






29. They are often based on industry best practice.






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






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






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






34. 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.






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






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






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






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






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






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






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






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






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






44. 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






45. primary activities and support activities






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






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






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






49. 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)






50. 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.