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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. 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
Strategic business management
Junk bond
Business Life Cycle Phases
HR functions that can be outsourced
2. 1 Global Economy 2 Wage comparison 3 Trade Agreement 4 International Labor Law
Controlling
International Factors
Environmental scanning
Blue ocean Strategy
3. They represent milestones that must be achieved in order to reach the long term objectives. They are usually within 6 months to a year.
Purpose of benchmarks
Spin-off
Short term Objectives
Demographic Factors
4. Comparing operations in totally unrelated industries
Critical success factors
Market development
generic benchmarking
Purpose of benchmarks
5. Comparing similar functional firms in your industry
Scenarios
Diversification
functional benchmarking
Economic Factors
6. 1. improve bidding success 2. identify competitors key customers 3. identify expansion plans 4. improve understanding of competitors
Merger and Acquisition Process
low-cost strategy
benefits of competitor intelligence
international strategy
7. Information systems with a charter to achieve competitive superiority.
Corporate governance
Horizontal diversification
Strategic Information Systems
international strategy
8. They are used to condense and summarize large quantities of data for quick understanding.
Related diversification
Descriptive Statistic
Economic Factors
Strategic business unit (SBU)
9. 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
Economic Factors
Cross-sector diversification
Decline
Parts of Business Case
10. The decisions made and the direction provided for managing multiple business units under a single corporate umbrella.
Inferential Statistic
Corporate strategy
Ethics
Directing
11. 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
Mission Statement
Technological Factors
Growth
international strategy
12. 1. information systems 2. logistics 3. HR
support activities of a business
Resources leverage
Stakeholder mapping
Strategic Planning
13. The resources and competences of an organization needed for it to survive and prosper.
CLO
Strategic capability
Internal Benchmarks
Off shoring
14. A value creating strategy that primary increases perceived value by increasing attractiveness of product
Management fit
differentiation
SPAC
Economic Factors
15. Specific - Measurable - Attainable - Realistic - Timely
Unsystematic risk
SMART Goals
Diversification
To achieve competitive advantage and superior profitability
16. These objectives are generally achieved within 3 to 5 years. Establishing these objectives provides direction - synergy and aids in establishing guidelines for evaluation.
Long term Objectives
common practices when analyzing your competition
Operations
Cultural web
17. 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)
Operational fit
efficiency frontier
Ethics
Systematic risk
18. 1 Strategies are reviewed 2 Performance towards objective is measured 3 Corrective action is taken
Related diversification
Internal Benchmarks
Strategy Evaluation
Core Values
19. 1 Population 2 Sample 3 Normal Distribution
Demographic Factors
Descriptive Statistic
top-down
Inferential Statistic
20. Describes the structure of product - service - and information flows and the role of participating parties.
Strategy Development
Related diversification
internal benchmarking
Business model
21. Risk associated with a particular business.
Resources
Directing
Unsystematic risk
Core competences
22. The categories of activities within and around an organization which together create a product or service.
Value chain
PESTEL
efficiency frontier
Environmental Scanning
23. Comparing 1 operation in the firm with another
low-cost strategy
Code of Ethics
generic benchmarking
internal benchmarking
24. A strategy by which an organisation offers existing products to new markets.
Strategic business management
Unsystematic risk
Market development
Management Functions
25. 1 The rule is proposed 2 Public comment is invited 3 The final rule is issued
The law making Process
Controlling
Maturity
Strategic Planning
26. It involves data that is gathered firsthand for the specific evaluation being conduced.
Off shoring
Operational fit
Secondary Research
Primary Research
27. The political - economic - social - technological - environmental - and legal dimensions of an organization's external environment.
Emergent Strategy
SPAC
Internal Benchmarks
PESTEL
28. Identifies stakeholder expectations and power and helps in understanding political priorities.
Strategic business unit
Differentiation
Strategy Formulation
Stakeholder mapping
29. 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
Ethics
Environmental scanning
Quantitative Analysis
Parts of Business Case
30. It refers to relocation of processes or functions from a home country to another country and it appeals to organization for cost saving.
international strategy
Off shoring
Organizing
Core competences
31. Acquisition of a company that operates in the same industry using the same value chain.
Strategic Groups
Descriptive Statistic
Horizontal diversification
Financial Measures
32. 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.
Core competences
key to success in strategic planning
Strategic business unit (SBU)
value creating operations in the value chain of operation
33. 1 Attitudes towards career 2 Immigration 3 Occupational and industry skills 4 Recruitment 5 Unions 6 Unemployment 7 Turnover 8 Relocation
Maturity
Employment Factors
Introduction
Cross-sector diversification
34. 1 Introduction 2 Growth 3 Maturity 4 Decline
Ethics
Planning
Core competences
Business Life Cycle Phases
35. 1 Vision and mission 2 Value Statement
Strategy Formulation
Controlling
Differentiation
Cross-sector diversification
36. 1 Planning 2 Organizing 3 Directing 4 Controlling
Management Functions
Inferential Statistic
Strategic business unit (SBU)
Value network
37. Cost savings accomplished by operating combined companies more efficiently.
Secondary Research
Code of Ethics
Economizing
Strategy Evaluation
38. The organization of a set of businesses that share identical or very similar strategies or strategic challenges.
to maximize profits
Corporate social responsibility
SMART Goals
Strategic business unit (SBU)
39. A company in which 70-95% of revenue comes from a single business
Strategies at three levels
Strategic business unit (SBU)
Dominant business
Focus
40. 1 Statement of the problem 2 Objectives 3 Description of potential solution 4 Project Time line 5 Project Metrics.
Parts of Business Case
benefits of competitor intelligence
Balanced scorecards
Economic Factors
41. Private (nonpublic) corporations or partnerships that use their financial resources to engineer buyouts and acquisitions of other companies.
Agency
Decline
Private equity firm
Methodologies Of Operations
42. Is concerned with the ways in which an organization exeeds its minimum obligations to stakeholders specified through regulation.
Corporate social responsibility
Due Diligence
Decline
Value Statement
43. Engaging in those activities that ensure effective operation - including leadership and motivation pf employee action towards goals. eg : Scheduling and conducting interview.
Directing
Conglomerate
CLO
Economic Factors
44. Acquisition of a company in a different industry - but which employs a similar value chain.
primary activities of a business
SPAC
Strategic capability
Cross-sector diversification
45. Independent & entrepreneurial - adopts a more flexible approach to their international operations - More sensitive & responsive to local environment
Private equity firm
mentality of a MNC manager
Strategic Planning
Secondary Research
46. Combine both qualitative and quantitative measures - acknowledge the expectations of different stakeholders and relate an assessment of performance to choice of strategy.
Unrelated diversification
Balanced scorecards
Mission Statement
Value Statement
47. Is the set of internationalization links and relationships that are necessary to create a product or service.
Value network
Organization Structure
Inferential Statistic
differentiation
48. 1 Age 2 Gender 3 Generational Difference 4 Geographic shifts in population 5 Ethnicity 6 Unskilled Labor 7 Non traditional labor force
Demographic Factors
Holding company
Factors that affect external environment
Generational Difference
49. Value - Exploit - Rare - Imitate - Substitute
skills businesses need to create competitive advantage
Secondary Research
Controlling
bottom-up
50. Studying the future and arranging the means for dealing with it - which encompass forecasting - selling goals - and determining actions. eg: Forecasting future staffing needs.
Strategic Information Systems
Performance Measures
Balanced scorecards
Planning