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






2. 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






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






4. It is a vivid - guiding image of the organization's desired future. It is the ultimate picture of what leadership envisions for the organization.






5. Corporation that owns the majority of voting shares of other companies - but that allows the other companies to operate as independent entities.






6. 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






7. 1 Work Specialization 2 Departmentalization 3 Chain of Command 4 Centralization and Decentralization 5 Formalization






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






9. Cost savings accomplished by operating combined companies more efficiently.






10. 1 Statement of the problem 2 Objectives 3 Description of potential solution 4 Project Time line 5 Project Metrics.






11. 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






12. Specific - Measurable - Attainable - Realistic - Timely






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






14. Those product features with which a organization must outperform the competition because they are particularly valued by a group of customers.






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






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






17. Is concerned with the structures and systems of control by which managers are held accountable to those who have a legitimate stake an organization.






18. primary activities and support activities






19. Individuals or groups who depend on an organization to fulfill their own goals and on whom - in turn the organization depends.






20. 1 Age 2 Gender 3 Generational Difference 4 Geographic shifts in population 5 Ethnicity 6 Unskilled Labor 7 Non traditional labor force






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






22. 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






23. Ability to broaden a product line or a customer base achieved through an acquisition.






24. 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






25. 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






26. 1 Preparation 2 Due Diligence 3 Planning integration of the business entities 4 Implementation - monitoring and measurement






27. It is a system of moral principles and values that establish appropriate conduct.






28. 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






29. Organization that follow this approach are not competing in an established market. They see themselves as a creating entirely new value. This strategy values innovation - creativity and rule breaking.






30. Value - Exploit - Rare - Imitate - Substitute






31. 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.






32. Comparing operations in totally unrelated industries






33. 1. choose a viable position on efficiency frontier 2. configure its internal ops to support the chosen position 3.ensure firm has the right orginizational structure in place to execute its strategy






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






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






36. 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"






37. The resources and competences of an organization needed for it to survive and prosper.






38. 1 Organizational Strategy 2 Business unit strategy 3 Functional Strategy






39. Processes and activities used to formulate HR objectives - practices - and policies.






40. It can be defined as principles of conduct within an organization that guide decision making and behavior.






41. When a corporation enters a new business in a different industry from that in which it currently operates and does not expect to achieve any value chain synergies through the combination.






42. 1 Traditional Generation 2 Baby Boom Generation 3 Generation X 4 Generation Y






43. 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






44. 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.






45. 1 Balance Scorecard






46. 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)






47. It refers to relocation of processes or functions from a home country to another country and it appeals to organization for cost saving.






48. A strategy by which an organization takes increased share of its existing markets with its existing product range.






49. A company in which 70-95% of revenue comes from a single business






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