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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. Specific - Measurable - Attainable - Realistic - Timely






2. The organization relies on high energy and creativity. Attempts to develop products and services - decision may be made to use experiences staff so training is not an integral part of this phase. may meet or exceed the standard pay range to recruit






3. Cost savings accomplished by operating combined companies more efficiently.






4. 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






5. 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






6. A value creating strategy that primary increases perceived value by increasing attractiveness of product






7. 1 Preparation 2 Due Diligence 3 Planning integration of the business entities 4 Implementation - monitoring and measurement






8. 1 The rule is proposed 2 Public comment is invited 3 The final rule is issued






9. Organizations within an industry with similar strategic characteristics - following similar strategies or competing on similar bases






10. 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






11. 1 SWOT analysis and environmental scanning 2 Long term objectives 3 Strategies to achieve these objectives are defined






12. 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.






13. 1 Population 2 Sample 3 Normal Distribution






14. 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






15. Where an individual (such as a corporate officer) acts on behalf of someone else (such as a shareholder)






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






17. Is the set of internationalization links and relationships that are necessary to create a product or service.






18. 1. information systems 2. logistics 3. HR






19. 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.






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






21. Economic - legal resp. - ethical - and discretionary






22. 1. multinational 2. global 3. transnational






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






24. The organization of a set of businesses that share identical or very similar strategies or strategic challenges.






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






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






27. 1 Experiments 2 Pilot Projects 3 Surveys/questionnaires 4 Interviews (exit - panel - individual) 5 Focus group 6 Direct observation 7 Testing






28. These strategies attempt to set the product or service apart form its competition by giving it unique characteristic that customers value and for which they will be willing to pay a premium price.






29. 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.






30. 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.






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






32. 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






33. 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.






34. 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. )






35. 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.






36. 1 Work Specialization 2 Departmentalization 3 Chain of Command 4 Centralization and Decentralization 5 Formalization






37. 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






38. The resources and competences of an organization needed for it to survive and prosper.






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






40. 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.






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






42. 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






43. Corporation that owns the majority of voting shares of other companies - but that allows the other companies to operate as independent entities.






44. Adhering to set of governing principles whether the philosophy is one of fairness - individual rights - avoiding conflicts of interest or another philosophical grounding.






45. They represent milestones that must be achieved in order to reach the long term objectives. They are usually within 6 months to a year.






46. 1 Age 2 Gender 3 Generational Difference 4 Geographic shifts in population 5 Ethnicity 6 Unskilled Labor 7 Non traditional labor force






47. Studying the future and arranging the means for dealing with it - which encompass forecasting - selling goals - and determining actions. eg: Forecasting future staffing needs.






48. 1 Balance Scorecard






49. 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






50. 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