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Test your basic knowledge |
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. Identifies stakeholder expectations and power and helps in understanding political priorities.
Cultural web
Stakeholder mapping
Organization Structure
Balanced scorecards
2. It refers to relocation of processes or functions from a home country to another country and it appeals to organization for cost saving.
Cultural web
Inferential Statistic
Off shoring
Economic Factors
3. 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
Strategic Planning
Market fit
Related diversification
Growth
4. 1. improve bidding success 2. identify competitors key customers 3. identify expansion plans 4. improve understanding of competitors
Ethics
Vertical diversification
benefits of competitor intelligence
Corporate strategy
5. Ensuring that everything is carried out according to the plan. Eg: Measuring recruiting efforts and effectiveness.
Controlling
SPAC
Strategy Development
Outsourcing
6. 1 Charts and graphs 2 Measures of central tendency 3 Measures of variation 4 Measures of association
Descriptive Statistic
Spin-off
Mission Statement
types of competitive strategies for international businesses
7. 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
Strategic Planning Phase
Critical success factors
Holding company
Maturity
8. Quality of information and interpretation of it
key to success in strategic planning
Cross-sector diversification
Value Statement
Growth
9. 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
Strategic Planning
Directing
Scenarios
Spin-off
10. Combine both qualitative and quantitative measures - acknowledge the expectations of different stakeholders and relate an assessment of performance to choice of strategy.
Related diversification
value creating operations in the value chain of operation
Vision Statement
Balanced scorecards
11. 1 Global Economy 2 Wage comparison 3 Trade Agreement 4 International Labor Law
Scope
International Factors
Quantitative Analysis
skills businesses need to create competitive advantage
12. Sell more in existing markets - or enter new markets
Cultural web
to obtain profit growth
Systematic risk
functional benchmarking
13. 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.
Unrelated diversification
skills businesses need to create competitive advantage
Growth
Value chain
14. It is based on numeric data that is analyzed with statistic method. 1 Descriptive Statistic 2 Inferential Statistic
Off shoring
Quantitative Analysis
benefits of competitor intelligence
skills businesses need to create competitive advantage
15. It describes what is important to an organization and often dictate employee behavior. They are the heart of the culture of an organization.
SWOT Analysis
Methodologies Of Operations
Private equity firm
Value Statement
16. Those product features with which a organization must outperform the competition because they are particularly valued by a group of customers.
Strategy Formulation
generic benchmarking
Critical success factors
Strategic business unit
17. Value - Exploit - Rare - Imitate - Substitute
skills businesses need to create competitive advantage
Environmental scanning
Technological Factors
Environmental Scanning
18. 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
Business strategy
Mission Statement
Decline
Management Functions
19. Corporation that owns the majority of voting shares of other companies - but that allows the other companies to operate as independent entities.
Corporate strategy
CLO
common practices when analyzing your competition
Holding company
20. 1 Balance Scorecard
Stakeholders
Performance Measures
to increase profitability
Descriptive Statistic
21. Independent & entrepreneurial - adopts a more flexible approach to their international operations - More sensitive & responsive to local environment
mentality of a MNC manager
skills businesses need to create competitive advantage
top-down
Strategic Information Systems
22. 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.
efficiency frontier
Outsourcing
Strategic Planning
Vertical diversification
23. Is concerned with the ways in which an organization exeeds its minimum obligations to stakeholders specified through regulation.
International Factors
Leveraged buyout (LBO)
Critical success factors
Corporate social responsibility
24. 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.
Off shoring
Quantitative Analysis
Marketing Mix
SWOT Analysis
25. When a corporation is able to combine similar primary value chain activities.
Management Functions
Value network
Operational fit
Horizontal diversification
26. It uses data already gathered by others and reported in various sources.
Parts of Business Case
Secondary Research
Business strategy
Spin-off
27. The organization of a set of businesses that share identical or very similar strategies or strategic challenges.
Strategic business unit (SBU)
Organizing
Demographic Factors
Operations
28. 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. )
Environmental Scanning
Internal Benchmarks
Inferential Statistic
mentality of MNC
29. Comparing a the firms operations with a direct competitor
Strategic business management
Maturity
external benchmarking
Decline
30. Cut costs - add value - or increase prices
Strategic Planning Phase
efficiency frontier
Business strategy
to increase profitability
31. 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"
Differentiation
Emergent Strategy
CLO
Stakeholder mapping
32. These strategy requires that organizations focus on a particular buyer group - segment of the product line or geographical market within an industry. It is build around serving particular target to the exclusion of others.
Purpose of benchmarks
Focus
Primary Research
Porters Competitive Strategies
33. Where an individual (such as a corporate officer) acts on behalf of someone else (such as a shareholder)
SMART Goals
Purpose of benchmarks
Ethical Behavior
Agency
34. The categories of activities within and around an organization which together create a product or service.
Due Diligence
Critical success factors
Business strategy
Value chain
35. Not necessarily considered HR core function like benefits plan administration - payroll administration - and background checks - etc.
common practices when analyzing your competition
Parts of Business Case
HR functions that can be outsourced
Maturity
36. Ensure that organization's strategy and operations are consistent with each other
Cross-sector diversification
Introduction
To achieve competitive advantage and superior profitability
Holding company
37. 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
Market fit
Junk bond
Cultural web
International Factors
38. 1. multinational 2. global 3. transnational
To achieve competitive advantage and superior profitability
types of competitive strategies for international businesses
to increase profitability
Environmental scanning
39. The resources and competences of an organization needed for it to survive and prosper.
Employment Factors
Downscoping
Corporate social responsibility
Strategic capability
40. Comparing operations in totally unrelated industries
key to success in strategic planning
Code of Ethics
generic benchmarking
Technological Factors
41. Cost savings accomplished by operating combined companies more efficiently.
Long term Objectives
Ethics
Economizing
HR functions that can be outsourced
42. Specific - Measurable - Attainable - Realistic - Timely
Corporate social responsibility
SWOT Analysis
Economizing
SMART Goals
43. 1 Introduction 2 Growth 3 Maturity 4 Decline
Economizing
Business Life Cycle Phases
Corporate social responsibility
mentality of a MNC manager
44. 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
Strategic capability
bottom-up
PESTEL
Business Life Cycle Phases
45. 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
Cost Leadership
Primary Research
Maturity
Factors that affect external environment
46. A value creating strategy that creates more perceived value by primarily reducing costs
low-cost strategy
to maximize profits
External Benchmarks
Code of Ethics
47. 1 Statement of the problem 2 Objectives 3 Description of potential solution 4 Project Time line 5 Project Metrics.
Strategic business unit (SBU)
Parts of Business Case
Cost Leadership
Methodologies Of Operations
48. It is simple and effective process for collecting information on the organization's current state. It answers four basic question.
Secondary Research
Economic Factors
External Benchmarks
SWOT Analysis
49. 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
Outsourcing
Business Case
Downscoping
key to success in strategic planning
50. A process where a company is bought primarily using debt. Typically engineered by management of the company - or by private equity firms.
Leveraged buyout (LBO)
Five Forces
CLO
Primary Research