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






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






3. 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.






4. Comparing 1 operation in the firm with another






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






6. 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.






7. 1 Advances in technology 2 Technological skills 3 The digital divide 4 Process changes






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






9. The political - economic - social - technological - environmental - and legal dimensions of an organization's external environment.






10. 1 Age 2 Gender 3 Generational Difference 4 Geographic shifts in population 5 Ethnicity 6 Unskilled Labor 7 Non traditional labor force






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






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






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






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






15. 1 Attitudes towards career 2 Immigration 3 Occupational and industry skills 4 Recruitment 5 Unions 6 Unemployment 7 Turnover 8 Relocation






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






17. 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.






18. 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






19. 1 Short term objective 2 Action plan to achieve these objective 3 Allocating resources 4 Motivating employees to manage the plan.






20. The skills and abilities by which resources are deployed through an organization's activities and processes such as to achieve competitive advantage in ways that others cannot imitate or obtain.






21. 1 Balance Scorecard






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






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






24. Comparing a the firms operations with a direct competitor






25. Cut costs - add value - or increase prices






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






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






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






29. It is simple and effective process for collecting information on the organization's current state. It answers four basic question.






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






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






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






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






36. 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






37. primary activities and support activities






38. The decisions made and the direction provided for managing multiple business units under a single corporate umbrella.






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






40. 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.






41. 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?






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






43. 1 Vision and mission 2 Value Statement






44. 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






45. Suppliers - buyers - competitive rivalry - product substitutes and potential entrants; reinforces the importance of economic theory; analytical tool of previously lacking the field of strategy; determines the nature/level of competition and profit






46. These strategy requires that organizations focus on a particular buyer group - segment of the product line or geographical market within an industry. It is build around serving particular target to the exclusion of others.






47. 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






48. 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






49. 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






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







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