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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 Global Economy 2 Wage comparison 3 Trade Agreement 4 International Labor Law
International Factors
Business model
Performance Measures
Economizing
2. 1 Financial 2 Human 3 Physical 4 Technological
Cultural web
Directing
Parts of Business Case
Resources
3. A strategy by which an organisation offers existing products to new markets.
Market development
Value Statement
Strategies at three levels
Conglomerate
4. 1 Cost Leadership 2 Differentiation 3 Focus
generic benchmarking
Internal Benchmarks
Porters Competitive Strategies
Directing
5. Cut costs - add value - or increase prices
benefits of competitor intelligence
type of responsibilities of a business
to increase profitability
Strategic capability
6. It is simple and effective process for collecting information on the organization's current state. It answers four basic question.
Focus
SWOT Analysis
Conglomerate
common practices when analyzing your competition
7. Comparing a the firms operations with a direct competitor
Stakeholder mapping
Ethics
external benchmarking
Diversification
8. 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
Blue ocean Strategy
Action Plan
Horizontal diversification
Junk bond
9. A participative approach to planning in which there is involvement at all levels; plans are developed at the lower levels of an organisation and funnelled up through consecutive levels until they reach top management - advantage:People are responsibl
Systematic risk
primary activities of a business
Market development
bottom-up
10. 1 Advances in technology 2 Technological skills 3 The digital divide 4 Process changes
Mission Statement
Technological Factors
Action Plan
Employment Factors
11. They are used to condense and summarize large quantities of data for quick understanding.
common practices when analyzing your competition
Dominant business
Financial Measures
Descriptive Statistic
12. 1 Interest Rates 2 Gross Domestic Product (GDP) 3 Consumer Price Index (CPI) 4 Disposable Income 5 Inflation
Blue ocean Strategy
Planning
To achieve competitive advantage and superior profitability
Economic Factors
13. 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?
Strategic Planning
Financial Measures
skills businesses need to create competitive advantage
value creating operations in the value chain of operation
14. 1 Planning 2 Organizing 3 Directing 4 Controlling
Horizontal diversification
Management Functions
Off shoring
differentiation
15. A corporation that owns a large number of businesses that are different sizes and operate in different industry sectors.
Strategic Planning Phase
SWOT Analysis
Cost Leadership
Conglomerate
16. Adhering to set of governing principles whether the philosophy is one of fairness - individual rights - avoiding conflicts of interest or another philosophical grounding.
Emergent Strategy
Business strategy
Ethical Behavior
Strategy Formulation
17. 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.
Takeover
Purpose of benchmarks
Organizing
SMART Goals
18. Engaging in those activities that ensure effective operation - including leadership and motivation pf employee action towards goals. eg : Scheduling and conducting interview.
Agency
Off shoring
Vertical diversification
Directing
19. 1 Preparation 2 Due Diligence 3 Planning integration of the business entities 4 Implementation - monitoring and measurement
Merger and Acquisition Process
Core Values
mentality of MNC
PESTEL
20. 1. multinational 2. global 3. transnational
Balanced scorecards
types of competitive strategies for international businesses
Corporate governance
support activities of a business
21. Acquisition of another company upstream (supplier) or downstream (buyer) in the value chain of the same industry in which the corporation operates.
Financial Measures
Balanced scorecards
Vertical diversification
Stakeholder mapping
22. Risk associated with macro-economic forces.
Market development
Descriptive Statistic
Systematic risk
Organization Structure
23. 1. information systems 2. logistics 3. HR
Downscoping
support activities of a business
Strategy Implementation
Unrelated diversification
24. The organization of a set of businesses that share identical or very similar strategies or strategic challenges.
type of responsibilities of a business
Strategic business unit (SBU)
Strategy Implementation
Balanced scorecards
25. 1 Short term objective 2 Action plan to achieve these objective 3 Allocating resources 4 Motivating employees to manage the plan.
Blue ocean Strategy
Organization Structure
International Factors
Strategy Implementation
26. Independent & entrepreneurial - adopts a more flexible approach to their international operations - More sensitive & responsive to local environment
mentality of a MNC manager
Quantitative Analysis
Strategic Planning
CLO
27. Economic - legal resp. - ethical - and discretionary
key to success in strategic planning
type of responsibilities of a business
Secondary Research
Porters Competitive Strategies
28. 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
Descriptive Statistic
Five Forces
Action Plan
Performance Measures
29. It is a system of moral principles and values that establish appropriate conduct.
Business Life Cycle Phases
Market development
Ethics
Long term Objectives
30. It is the process that involves a systematic survey and interruption of relevant data to identify external opportunities and threats and to assess how these factors affect the organization currently and how they are likely to affect the organization
external benchmarking
Environmental scanning
Demographic Factors
Extended Organization
31. 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"
Introduction
Blue ocean Strategy
Strategic Planning
CLO
32. It involves data that is gathered firsthand for the specific evaluation being conduced.
Primary Research
Differentiation
internal benchmarking
Merger and Acquisition Process
33. It is based on numeric data that is analyzed with statistic method. 1 Descriptive Statistic 2 Inferential Statistic
mentality of a MNC manager
Quantitative Analysis
low-cost strategy
international strategy
34. 1 Organizational Strategy 2 Business unit strategy 3 Functional Strategy
Off shoring
Blue ocean Strategy
Strategies at three levels
value creating operations in the value chain of operation
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)
Horizontal diversification
Secondary Research
Decline
Strategies at three levels
36. 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.
Market development
types of competitive strategies for international businesses
Business Life Cycle Phases
Takeover
37. A company in which 70-95% of revenue comes from a single business
Dominant business
Strategic Planning Phase
Secondary Research
Vision Statement
38. Ensuring that everything is carried out according to the plan. Eg: Measuring recruiting efforts and effectiveness.
low-cost strategy
Business model
Controlling
Critical success factors
39. Is the set of internationalization links and relationships that are necessary to create a product or service.
Unsystematic risk
Value network
Value chain
Strategic Groups
40. Serve the purpose similar to short term objectives but are completed in 1 to 3 years.
external benchmarking
Mid term Objectives
Vision Statement
Strategy Evaluation
41. 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
Strategy Formulation
Decline
Ethical Behavior
to obtain profit growth
42. It describes what is important to an organization and often dictate employee behavior. They are the heart of the culture of an organization.
Maturity
Code of Ethics
Value Statement
Scenarios
43. The types of decisions made and direction created for a single business
Business strategy
Strategy Development
Environmental Scanning
Balanced scorecards
44. It refers to relocation of processes or functions from a home country to another country and it appeals to organization for cost saving.
Off shoring
Maturity
Economizing
Strategy Implementation
45. 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)
Strategic business unit
efficiency frontier
Purpose of benchmarks
Core competences
46. Not necessarily considered HR core function like benefits plan administration - payroll administration - and background checks - etc.
Internal Benchmarks
HR functions that can be outsourced
Leveraged buyout (LBO)
Methodologies Of Operations
47. 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
Action Plan
Introduction
Off shoring
Marketing Mix
48. Is the means by which a strategy can be pursued.
Controlling
PESTEL
Strategic method
Action Plan
49. The categories of activities within and around an organization which together create a product or service.
Business model
Performance Measures
Value chain
mentality of MNC
50. 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
Corporate social responsibility
Inferential Statistic
PESTEL