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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. It is a system of moral principles and values that establish appropriate conduct.
Ethics
External Benchmarks
SMART Goals
Management fit
2. Private (nonpublic) corporations or partnerships that use their financial resources to engineer buyouts and acquisitions of other companies.
Extended Organization
key to success in strategic planning
skills businesses need to create competitive advantage
Private equity firm
3. It is simple and effective process for collecting information on the organization's current state. It answers four basic question.
Stakeholders
Management Functions
SWOT Analysis
Marketing Mix
4. Not necessarily considered HR core function like benefits plan administration - payroll administration - and background checks - etc.
HR functions that can be outsourced
Demographic Factors
Systematic risk
The law making Process
5. 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
CLO
Strategy Implementation
Five Forces
Technological Factors
6. 1 Organizational Strategy 2 Business unit strategy 3 Functional Strategy
HR functions that can be outsourced
Diversification
Strategic business unit
Strategies at three levels
7. The decisions made and the direction provided for managing multiple business units under a single corporate umbrella.
to obtain profit growth
Market fit
Dominant business
Corporate strategy
8. 1 Introduction 2 Growth 3 Maturity 4 Decline
Directing
Economizing
Related diversification
Business Life Cycle Phases
9. 1 Demographic Factors 2 Economic Factors 3 Employment Factors 4 International Factors 5 Political Factors 6 Social Factors 7 Technological Factors
Junk bond
Vision Statement
Factors that affect external environment
Horizontal diversification
10. Engaging in those activities that ensure effective operation - including leadership and motivation pf employee action towards goals. eg : Scheduling and conducting interview.
Focus
mentality of a MNC manager
Blue ocean Strategy
Directing
11. The types of decisions made and direction created for a single business
Strategy Development
Private equity firm
Business strategy
Operations
12. 1 Interest Rates 2 Gross Domestic Product (GDP) 3 Consumer Price Index (CPI) 4 Disposable Income 5 Inflation
Marketing Mix
to obtain profit growth
Economic Factors
value creating operations in the value chain of operation
13. It is a vivid - guiding image of the organization's desired future. It is the ultimate picture of what leadership envisions for the organization.
Vision Statement
Scope
Introduction
Maturity
14. Comparing a the firms operations with a direct competitor
Demographic Factors
Vision Statement
external benchmarking
to obtain profit growth
15. The benefits that develop through the extension and application of corporate resources to a newly acquired company.
type of responsibilities of a business
SWOT Analysis
Resources leverage
bottom-up
16. A process where a company is bought primarily using debt. Typically engineered by management of the company - or by private equity firms.
Mid term Objectives
Strategic capability
Economizing
Leveraged buyout (LBO)
17. A corporation that owns a large number of businesses that are different sizes and operate in different industry sectors.
Market fit
Conglomerate
Management Functions
Business Life Cycle Phases
18. Special Purpose Acquisition Company. Empty-shell firms that promise to buy businesses with the proceeds of their initial public stock offerings.
SPAC
Emergent Strategy
Value network
Strategic business management
19. 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
generic benchmarking
Agency
Junk bond
type of responsibilities of a business
20. Refers to an intensive investigation of all factors surrounding a business decision to ensure that all risks are understood.
skills businesses need to create competitive advantage
Stakeholder mapping
Due Diligence
Holding company
21. 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
to maximize profits
Takeover
differentiation
SPAC
22. Where an individual (such as a corporate officer) acts on behalf of someone else (such as a shareholder)
Corporate governance
Market fit
Agency
Due Diligence
23. It describes what is important to an organization and often dictate employee behavior. They are the heart of the culture of an organization.
Value chain
Focus
Value Statement
Parts of Business Case
24. Views the world as its unit of analysis - Plants are built to provide local marketing advantages - recognizes the importance of being flexible at the country-level operations - more responsive to local needs
mentality of MNC
Differentiation
Due Diligence
Economizing
25. 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.
Technological Factors
Downscoping
Strategic Planning Phase
Leveraged buyout (LBO)
26. A method of planning in which corporate hq develops and provides guidelines - disadvantages: the method of planning restricts initiative at lower level - shows insensitivity to local conditions - advantages: headquarters formulates a plan; this ensur
Strategic business unit (SBU)
Marketing Mix
top-down
Five Forces
27. 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
benefits of competitor intelligence
Descriptive Statistic
key to success in strategic planning
Cultural web
28. Information systems with a charter to achieve competitive superiority.
Financial Measures
Outsourcing
Scope
Strategic Information Systems
29. When a corporation can take synergistic advantage of administrative and support activities of the value chain in making an acquisition.
Blue ocean Strategy
to maximize profits
Management Functions
Management fit
30. The resources and competences of an organization needed for it to survive and prosper.
Unrelated diversification
Mid term Objectives
top-down
Strategic capability
31. 1 Traditional Generation 2 Baby Boom Generation 3 Generation X 4 Generation Y
Generational Difference
Horizontal diversification
Introduction
Short term Objectives
32. 1. multinational 2. global 3. transnational
types of competitive strategies for international businesses
international strategy
SMART Goals
Secondary Research
33. 1 Experiments 2 Pilot Projects 3 Surveys/questionnaires 4 Interviews (exit - panel - individual) 5 Focus group 6 Direct observation 7 Testing
To achieve competitive advantage and superior profitability
primary activities of a business
Primary Research
Descriptive Statistic
34. A value creating strategy that creates more perceived value by primarily reducing costs
Holding company
Secondary Research
low-cost strategy
Primary Research
35. 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.
mentality of MNC
Marketing Mix
Stakeholders
Stakeholder mapping
36. 1 Planning 2 Organizing 3 Directing 4 Controlling
Strategic Planning Phase
primary activities of a business
Performance Measures
Management Functions
37. 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)
Corporate social responsibility
Five Forces
Secondary Research
Scope
38. It describes an organizational challenge and possible alternative solutions - presenting evidence in support of a proposed solution. They are effective way to compete for limited resources.
Agency
Economic Factors
Takeover
Business Case
39. 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
Corporate social responsibility
Downscoping
Introduction
Mission Statement
40. Comparing 1 operation in the firm with another
The law making Process
primary activities of a business
internal benchmarking
Takeover
41. 1 Capacity 2 Standards 3 Scheduling 4 Inventory 5 Control
Methodologies Of Operations
Demographic Factors
Organizing
generic benchmarking
42. Is part of an organization for which there is a distinct external market for goods or services that is different from another SBU
Stakeholders
Operations
Business strategy
Strategic business unit
43. 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
common practices when analyzing your competition
international strategy
Market Penetrati
Value Statement
44. Is the means by which a strategy can be pursued.
Secondary Research
Outsourcing
Strategy Development
Strategic method
45. Sell more in existing markets - or enter new markets
to obtain profit growth
Core Values
Operational fit
Diversification
46. 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.
Purpose of benchmarks
Focus
Outsourcing
types of competitive strategies for international businesses
47. 1 The rule is proposed 2 Public comment is invited 3 The final rule is issued
The law making Process
Secondary Research
Short term Objectives
type of responsibilities of a business
48. Organizations within an industry with similar strategic characteristics - following similar strategies or competing on similar bases
Mid term Objectives
Off shoring
Strategic Groups
Unsystematic risk
49. Is concerned with the ways in which an organization exeeds its minimum obligations to stakeholders specified through regulation.
Economic Factors
Corporate social responsibility
Code of Ethics
Resources leverage
50. 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
bottom-up
skills businesses need to create competitive advantage
Value network
Unrelated diversification