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






2. Refers to an intensive investigation of all factors surrounding a business decision to ensure that all risks are understood.






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






4. 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.






5. Risk associated with macro-economic forces.






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






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






8. 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






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






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






11. They are often based on industry best practice.






12. 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






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






14. 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.






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






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






17. 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.






18. 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"






19. Organization that follow this approach are not competing in an established market. They see themselves as a creating entirely new value. This strategy values innovation - creativity and rule breaking.






20. 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






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






22. 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.






23. Cut costs - add value - or increase prices






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






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






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






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






28. 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






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






30. Acquisition of a company that operates in the same industry using the same value chain.






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






32. 1 Financial 2 Human 3 Physical 4 Technological






33. 1 Age 2 Gender 3 Generational Difference 4 Geographic shifts in population 5 Ethnicity 6 Unskilled Labor 7 Non traditional labor force






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






35. A strategy by which an organization takes increased share of its existing markets with its existing product range.






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






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. 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






39. Comparing 1 operation in the firm with another






40. 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






41. Designing a structure to assist in goal accomplishment that effectively relates human and nonhuman resources to the tasks of enterprise.Eg : Designing an interview process.






42. 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






43. 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)






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






45. Comparing operations in totally unrelated industries






46. 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.






47. 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.






48. 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






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






50. 1 Interest Rates 2 Gross Domestic Product (GDP) 3 Consumer Price Index (CPI) 4 Disposable Income 5 Inflation