Test your basic knowledge |

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. 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






2. 1 Global Economy 2 Wage comparison 3 Trade Agreement 4 International Labor Law






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






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






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






6. 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)






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






8. Quality of information and interpretation of it






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






10. 1 Attitudes towards career 2 Immigration 3 Occupational and industry skills 4 Recruitment 5 Unions 6 Unemployment 7 Turnover 8 Relocation






11. Independent & entrepreneurial - adopts a more flexible approach to their international operations - More sensitive & responsive to local environment






12. They are used to condense and summarize large quantities of data for quick understanding.






13. 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.






14. 1 Balance Scorecard






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






16. 1 Interest Rates 2 Gross Domestic Product (GDP) 3 Consumer Price Index (CPI) 4 Disposable Income 5 Inflation






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






18. 1 Traditional Generation 2 Baby Boom Generation 3 Generation X 4 Generation Y






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






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






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






22. 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.






23. 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






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






25. Describes the structure of product - service - and information flows and the role of participating parties.






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






27. 1 Cost Leadership 2 Differentiation 3 Focus






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






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






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






31. 1 Statement of the problem 2 Objectives 3 Description of potential solution 4 Project Time line 5 Project Metrics.






32. 1 Planning 2 Organizing 3 Directing 4 Controlling






33. 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






34. 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.






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






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






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






38. 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.






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






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






41. The central focus of the department is the provision of goods and services to the customer. Basically this department must ensure that the product/service is produced and delivered to the customer.






42. 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






43. 1 The rule is proposed 2 Public comment is invited 3 The final rule is issued






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






45. 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. )






46. A tool to help you think about the wider issues that have an impact on the industry or service area as a whole - taking five main categories into account: Socio-cultural - Technological - Economic - Environmental - Political






47. Comparing a the firms operations with a direct competitor






48. 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






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






50. 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