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






2. 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






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






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






5. 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






6. The benefits that develop through the extension and application of corporate resources to a newly acquired company.






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






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






9. 1 Interest Rates 2 Gross Domestic Product (GDP) 3 Consumer Price Index (CPI) 4 Disposable Income 5 Inflation






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






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






12. 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)






13. 1 Traditional Generation 2 Baby Boom Generation 3 Generation X 4 Generation Y






14. 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






15. 1 Strategy Formulation 2 Strategy Development 3 Strategy Implementation 4 Strategy Evaluation






16. 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.






17. 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.






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






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






20. 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






21. 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






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






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






24. 1 Experiments 2 Pilot Projects 3 Surveys/questionnaires 4 Interviews (exit - panel - individual) 5 Focus group 6 Direct observation 7 Testing






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






26. Special Purpose Acquisition Company. Empty-shell firms that promise to buy businesses with the proceeds of their initial public stock offerings.






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






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






29. These are the detailed steps a unit - department - or team will take in order to achieve the short term objectives.






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






31. When a corporation is able to combine similar primary value chain activities.






32. 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






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






34. It uses data already gathered by others and reported in various sources.






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






36. 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






37. Cut costs - add value - or increase prices






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






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






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






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






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






43. 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.






44. It involves data that is gathered firsthand for the specific evaluation being conduced.






45. 1 Work Specialization 2 Departmentalization 3 Chain of Command 4 Centralization and Decentralization 5 Formalization






46. 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






47. 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






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






49. 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.






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







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