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. Often accompanied by backlogs and scheduling problems while the organization adjusts to increase demands. Policies - procedures and rules should begin to be formalized as organization needs increased structure during this phase to operate effectively






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






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






4. Refers to an intensive investigation of all factors surrounding a business decision to ensure that all risks are understood.






5. 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






6. Quality of information and interpretation of it






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






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






9. Information systems with a charter to achieve competitive superiority.






10. 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






11. 1 SWOT analysis and environmental scanning 2 Long term objectives 3 Strategies to achieve these objectives are defined






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






13. 1. talking to competitors - customers - and distributors 2. testing competitors products 3. view competitors exhibits at trade shows






14. Specific - Measurable - Attainable - Realistic - Timely






15. 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.






16. 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.






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






18. 1 Financial 2 Human 3 Physical 4 Technological






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






20. 1 Strategy Formulation 2 Strategy Development 3 Strategy Implementation 4 Strategy Evaluation






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






22. 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






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






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






25. A plant or service department is moved to another country. Although separated geographically - the off shored entity remains part of the organization - and workers are still employees of the organization.






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






27. 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"






28. 1 Preparation 2 Due Diligence 3 Planning integration of the business entities 4 Implementation - monitoring and measurement






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






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






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






32. Cut costs - add value - or increase prices






33. The categories of activities within and around an organization which together create a product or service.






34. 1 Interest Rates 2 Gross Domestic Product (GDP) 3 Consumer Price Index (CPI) 4 Disposable Income 5 Inflation






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






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






37. 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.






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






39. primary activities and support activities






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






41. When a corporation can take synergistic advantage of relationships with suppliers and/or customers in making an acquisition.






42. Describes the structure of product - service - and information flows and the role of participating parties.






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






44. Comparing 1 operation in the firm with another






45. 1 Cost Leadership 2 Differentiation 3 Focus






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






47. 1 The rule is proposed 2 Public comment is invited 3 The final rule is issued






48. Identifies stakeholder expectations and power and helps in understanding political priorities.






49. 1 Strategies are reviewed 2 Performance towards objective is measured 3 Corrective action is taken






50. 1 Global Economy 2 Wage comparison 3 Trade Agreement 4 International Labor Law