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. A strategy by which an organization peruses new product offerings and new markets.






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






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






4. Not necessarily considered HR core function like benefits plan administration - payroll administration - and background checks - etc.






5. 1 Short term objective 2 Action plan to achieve these objective 3 Allocating resources 4 Motivating employees to manage the plan.






6. 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"






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






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






9. It is a system of moral principles and values that establish appropriate conduct.






10. It refers to relocation of processes or functions from a home country to another country and it appeals to organization for cost saving.






11. 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.






12. 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.






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






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






15. 1 Interest Rates 2 Gross Domestic Product (GDP) 3 Consumer Price Index (CPI) 4 Disposable Income 5 Inflation






16. 1 Balance Scorecard






17. Individuals or groups who depend on an organization to fulfill their own goals and on whom - in turn the organization depends.






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






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






20. Risk associated with macro-economic forces.






21. 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






22. 1 Strategies are reviewed 2 Performance towards objective is measured 3 Corrective action is taken






23. A company in which 70-95% of revenue comes from a single business






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






25. 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






26. 1. improve bidding success 2. identify competitors key customers 3. identify expansion plans 4. improve understanding of competitors






27. Risk associated with a particular business.






28. Value - Exploit - Rare - Imitate - Substitute






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






30. 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






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






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






33. 1 Cost Leadership 2 Differentiation 3 Focus






34. 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.






35. 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






36. It is based on numeric data that is analyzed with statistic method. 1 Descriptive Statistic 2 Inferential Statistic






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






38. 1 The rule is proposed 2 Public comment is invited 3 The final rule is issued






39. 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.






40. 1 Vision and mission 2 Value Statement






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






42. It is a process not just written project plan that helps an organization focus on how to succeed in the future - where the company is now? - where does the company want to go? - How will the company get there?






43. 1 Population 2 Sample 3 Normal Distribution






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






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






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






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






48. A process where a company is bought primarily using debt. Typically engineered by management of the company - or by private equity firms.






49. 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.






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