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. Acquisition of a company in a different industry - but which employs a similar value chain.






2. 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






3. 1. improve bidding success 2. identify competitors key customers 3. identify expansion plans 4. improve understanding of competitors






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






5. 1 Preparation 2 Due Diligence 3 Planning integration of the business entities 4 Implementation - monitoring and measurement






6. Value - Exploit - Rare - Imitate - Substitute






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.






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






9. 1 Introduction 2 Growth 3 Maturity 4 Decline






10. Is concerned with the ways in which an organization exeeds its minimum obligations to stakeholders specified through regulation.






11. 1 Demographic Factors 2 Economic Factors 3 Employment Factors 4 International Factors 5 Political Factors 6 Social Factors 7 Technological Factors






12. A strategy by which an organisation offers existing products to new markets.






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






14. 1 Statement of the problem 2 Objectives 3 Description of potential solution 4 Project Time line 5 Project Metrics.






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






16. 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.






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






18. 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"






19. A process or function previously performed by an organization is transferred to a separate entity. The workers now performing this function are not employees of the organization but they are employees of entity to whom the work is given.






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






21. A corporation that owns a large number of businesses that are different sizes and operate in different industry sectors.






22. They are often based on industry best practice.






23. 1 Age 2 Gender 3 Generational Difference 4 Geographic shifts in population 5 Ethnicity 6 Unskilled Labor 7 Non traditional labor force






24. A strategy by which an organization peruses new product offerings and new markets.






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






26. To achieve cost advantage - an organization has to be the low cost producer in its industry.The finished products of low cost producers are sold at prices that beat the competition. These industries depend on volume to provide profit and is less bra






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.






28. The central focus of the department is the provision of goods and services to the customer. Basically this department must ensure that the product/service is produced and delivered to the customer.






29. They represent milestones that must be achieved in order to reach the long term objectives. They are usually within 6 months to a year.






30. 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






31. Not necessarily considered HR core function like benefits plan administration - payroll administration - and background checks - etc.






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






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






34. 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






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






36. Business remain separate entities but may appear to outsiders as one entity. Commonly formed through the use of outsourcing.






37. 1 Advances in technology 2 Technological skills 3 The digital divide 4 Process changes






38. 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






39. 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.






40. The decisions made and the direction provided for managing multiple business units under a single corporate umbrella.






41. Quality of information and interpretation of it






42. 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.






43. A value creating strategy that primary increases perceived value by increasing attractiveness of product






44. 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






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






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






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






48. It is simple and effective process for collecting information on the organization's current state. It answers four basic question.






49. 1 Cost Leadership 2 Differentiation 3 Focus






50. They are used to condense and summarize large quantities of data for quick understanding.