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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 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)






2. primary activities and support activities






3. 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






4. 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.






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






6. 1 Advances in technology 2 Technological skills 3 The digital divide 4 Process changes






7. 1. a graph demonstrating the different positions a firm can adopt in creating value 2. compares value and differentiation (Y) versus high cost to low cost (x)






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






9. 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"






10. 1 Preparation 2 Due Diligence 3 Planning integration of the business entities 4 Implementation - monitoring and measurement






11. 1 Strategy Formulation 2 Strategy Development 3 Strategy Implementation 4 Strategy Evaluation






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






13. Processes and activities used to formulate HR objectives - practices - and policies.






14. 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






15. 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






16. 1 They can help to identify improvements in an organization's performance that can be attributed to the projects 2 They can suggest appropriate targets for improvement to be included in project objectives.






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






18. Cut costs - add value - or increase prices






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






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






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






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






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






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






25. Specific - Measurable - Attainable - Realistic - Timely






26. The underlying principles that guide an organization's strategy






27. Engaging in those activities that ensure effective operation - including leadership and motivation pf employee action towards goals. eg : Scheduling and conducting interview.






28. Business remain separate entities but may appear to outsiders as one entity. Commonly formed through the use of outsourcing.






29. These objectives are generally achieved within 3 to 5 years. Establishing these objectives provides direction - synergy and aids in establishing guidelines for evaluation.






30. 1 SWOT analysis and environmental scanning 2 Long term objectives 3 Strategies to achieve these objectives are defined






31. It describes what is important to an organization and often dictate employee behavior. They are the heart of the culture of an organization.






32. Is the means by which a strategy can be pursued.






33. 1 Financial 2 Human 3 Physical 4 Technological






34. 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






35. Risk associated with a particular business.






36. Acquisition of a company in a different industry - but which employs a similar value chain.






37. 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






38. 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






39. 1 Statement of the problem 2 Objectives 3 Description of potential solution 4 Project Time line 5 Project Metrics.






40. 1 Interest Rates 2 Gross Domestic Product (GDP) 3 Consumer Price Index (CPI) 4 Disposable Income 5 Inflation






41. Quality of information and interpretation of it






42. 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






43. Is concerned with the ways in which an organization exeeds its minimum obligations to stakeholders specified through regulation.






44. 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






45. Comparing similar functional firms in your industry






46. 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






47. Combine both qualitative and quantitative measures - acknowledge the expectations of different stakeholders and relate an assessment of performance to choice of strategy.






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






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






50. 1 Attitudes towards career 2 Immigration 3 Occupational and industry skills 4 Recruitment 5 Unions 6 Unemployment 7 Turnover 8 Relocation







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