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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. A value creating strategy that primary increases perceived value by increasing attractiveness of product
differentiation
Strategic Planning
Extended Organization
To achieve competitive advantage and superior profitability
2. 1. information systems 2. logistics 3. HR
Inferential Statistic
support activities of a business
Unrelated diversification
Spin-off
3. Not necessarily considered HR core function like benefits plan administration - payroll administration - and background checks - etc.
efficiency frontier
low-cost strategy
Environmental Scanning
HR functions that can be outsourced
4. Processes and activities used to formulate HR objectives - practices - and policies.
Long term Objectives
Strategic business management
Strategic Planning Phase
Porters Competitive Strategies
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
Business Case
bottom-up
Dominant business
Technological Factors
6. Cost savings accomplished by operating combined companies more efficiently.
Vertical diversification
Economizing
SPAC
type of responsibilities of a business
7. Quality of information and interpretation of it
Strategic capability
key to success in strategic planning
Demographic Factors
HR functions that can be outsourced
8. 1 Strategies are reviewed 2 Performance towards objective is measured 3 Corrective action is taken
Strategy Evaluation
Resources leverage
Organizing
International Factors
9. 1 Organizational Strategy 2 Business unit strategy 3 Functional Strategy
Dominant business
Strategies at three levels
mentality of MNC
Action Plan
10. Special Purpose Acquisition Company. Empty-shell firms that promise to buy businesses with the proceeds of their initial public stock offerings.
Generational Difference
SPAC
external benchmarking
Internal Benchmarks
11. A value creating strategy that creates more perceived value by primarily reducing costs
Spin-off
low-cost strategy
differentiation
SWOT Analysis
12. It is a systematic process of gathering and analyzing all relevant data about external opportunities (emerging marketplace - additional capabilities provided through new technology.) and threats (emerging competition - shifts in marketplaces. )
generic benchmarking
Environmental Scanning
Mid term Objectives
type of responsibilities of a business
13. 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
mentality of a MNC manager
Five Forces
value creating operations in the value chain of operation
benefits of competitor intelligence
14. Ensure that organization's strategy and operations are consistent with each other
value creating operations in the value chain of operation
Maturity
To achieve competitive advantage and superior profitability
international strategy
15. It can be defined as principles of conduct within an organization that guide decision making and behavior.
Code of Ethics
STEEP
HR functions that can be outsourced
to obtain profit growth
16. 1 Population 2 Sample 3 Normal Distribution
Stakeholder mapping
STEEP
Maturity
Inferential Statistic
17. 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
Conglomerate
generic benchmarking
primary activities of a business
Business Case
18. Comparing operations in totally unrelated industries
generic benchmarking
Strategy Development
Blue ocean Strategy
skills businesses need to create competitive advantage
19. Individuals or groups who depend on an organization to fulfill their own goals and on whom - in turn the organization depends.
CLO
Growth
Stakeholders
Demographic Factors
20. 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.
Strategic Planning
Emergent Strategy
Holding company
Outsourcing
21. 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.
STEEP
Downscoping
Balanced scorecards
Management Functions
22. 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.
Growth
Takeover
Stakeholder mapping
Core competences
23. 1. talking to competitors - customers - and distributors 2. testing competitors products 3. view competitors exhibits at trade shows
Outsourcing
Core Values
common practices when analyzing your competition
Scope
24. Is part of an organization for which there is a distinct external market for goods or services that is different from another SBU
PESTEL
Market development
Strategic business unit
Descriptive Statistic
25. Scheduling problems are largely resolved - and staffing and organizational culture begin to stabilize. Policies - procedures and rules are formalized and communicated to all employees. Training gains added emphasis in this phase to maintain flexibi
Dominant business
Maturity
Stakeholders
Economic Factors
26. When a corporation can take synergistic advantage of administrative and support activities of the value chain in making an acquisition.
Corporate governance
Holding company
Management fit
Market Penetrati
27. The resources and competences of an organization needed for it to survive and prosper.
Strategy Development
Porters Competitive Strategies
Strategic capability
Value network
28. Ensuring that everything is carried out according to the plan. Eg: Measuring recruiting efforts and effectiveness.
Financial Measures
Controlling
Strategic business unit
Management fit
29. 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
Emergent Strategy
Environmental scanning
Internal Benchmarks
Organizing
30. Where an individual (such as a corporate officer) acts on behalf of someone else (such as a shareholder)
Strategic Groups
Vertical diversification
Quantitative Analysis
Agency
31. Detailed and plausible views of how the business environment of an organization might develop in the future based on key drivers for change about which there is a high level of uncertainty
efficiency frontier
Introduction
Scenarios
Organization Structure
32. They are often based on industry best practice.
External Benchmarks
Conglomerate
Strategic Planning
Short term Objectives
33. 1 Cost Benefit Analysis 2 Return On Investment 3 Breakeven Analysis 4 Financial Statement Analysis
Business Life Cycle Phases
Financial Measures
Strategic method
Differentiation
34. 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
Leveraged buyout (LBO)
Strategy Formulation
Junk bond
Blue ocean Strategy
35. 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.
Organizing
Business model
top-down
Ethics
36. 1 Capacity 2 Standards 3 Scheduling 4 Inventory 5 Control
Generational Difference
type of responsibilities of a business
Planning
Methodologies Of Operations
37. Independent & entrepreneurial - adopts a more flexible approach to their international operations - More sensitive & responsive to local environment
Focus
Merger and Acquisition Process
mentality of a MNC manager
To achieve competitive advantage and superior profitability
38. Risk associated with macro-economic forces.
Systematic risk
Strategic business unit (SBU)
type of responsibilities of a business
primary activities of a business
39. Is the means by which a strategy can be pursued.
Stakeholders
Horizontal diversification
Code of Ethics
Strategic method
40. 1. R&D 2. production 3. marketing and sales 4. customer service
Resources leverage
benefits of competitor intelligence
types of competitive strategies for international businesses
primary activities of a business
41. 1 Attitudes towards career 2 Immigration 3 Occupational and industry skills 4 Recruitment 5 Unions 6 Unemployment 7 Turnover 8 Relocation
Scenarios
Merger and Acquisition Process
Employment Factors
Takeover
42. 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
Descriptive Statistic
Short term Objectives
Spin-off
Primary Research
43. 1 Charts and graphs 2 Measures of central tendency 3 Measures of variation 4 Measures of association
Strategy Formulation
Operations
Spin-off
Descriptive Statistic
44. Ability to broaden a product line or a customer base achieved through an acquisition.
Strategies at three levels
Scope
Emergent Strategy
Dominant business
45. 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"
CLO
International Factors
to maximize profits
Management fit
46. Adhering to set of governing principles whether the philosophy is one of fairness - individual rights - avoiding conflicts of interest or another philosophical grounding.
mentality of a MNC manager
Ethical Behavior
Spin-off
Strategic business unit (SBU)
47. 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
Market development
Emergent Strategy
Critical success factors
low-cost strategy
48. The underlying principles that guide an organization's strategy
Diversification
SPAC
Agency
Core Values
49. 1 Financial 2 Human 3 Physical 4 Technological
generic benchmarking
Generational Difference
Secondary Research
Resources
50. 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.
external benchmarking
Related diversification
Due Diligence
Private equity firm