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Business Strategy
Start Test
Study First
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. 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
Cost Leadership
Private equity firm
Introduction
common practices when analyzing your competition
2. These are the detailed steps a unit - department - or team will take in order to achieve the short term objectives.
functional benchmarking
PESTEL
Action Plan
Marketing Mix
3. primary activities and support activities
to obtain profit growth
value creating operations in the value chain of operation
Planning
primary activities of a business
4. Adhering to set of governing principles whether the philosophy is one of fairness - individual rights - avoiding conflicts of interest or another philosophical grounding.
Market development
CLO
Ethical Behavior
Strategic Planning Phase
5. Is the means by which a strategy can be pursued.
Differentiation
Strategic method
Growth
Outsourcing
6. 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
Blue ocean Strategy
Cross-sector diversification
Junk bond
efficiency frontier
7. Shows the behavioral - physical and symbolic manifestations of a culture that inform and are informed by the taken-for-granted assumptions - or paradigm - of an organisation
Business Case
Cultural web
Corporate governance
Methodologies Of Operations
8. 1 The rule is proposed 2 Public comment is invited 3 The final rule is issued
Value chain
Market development
The law making Process
Blue ocean Strategy
9. Cost savings accomplished by operating combined companies more efficiently.
Economizing
type of responsibilities of a business
Strategy Implementation
Private equity firm
10. Comparing a the firms operations with a direct competitor
Market development
Business Life Cycle Phases
Decline
external benchmarking
11. 1 Cost Benefit Analysis 2 Return On Investment 3 Breakeven Analysis 4 Financial Statement Analysis
key to success in strategic planning
Extended Organization
low-cost strategy
Financial Measures
12. 1 Work Specialization 2 Departmentalization 3 Chain of Command 4 Centralization and Decentralization 5 Formalization
Ethics
Parts of Business Case
Organization Structure
Corporate governance
13. 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.
Core competences
Purpose of benchmarks
Scenarios
Strategic capability
14. Describes the structure of product - service - and information flows and the role of participating parties.
Business model
Strategic Planning Phase
Performance Measures
Directing
15. 1 Charts and graphs 2 Measures of central tendency 3 Measures of variation 4 Measures of association
Primary Research
Descriptive Statistic
Employment Factors
Scope
16. The resources and competences of an organization needed for it to survive and prosper.
Mission Statement
International Factors
Strategic capability
types of competitive strategies for international businesses
17. A corporation that owns a large number of businesses that are different sizes and operate in different industry sectors.
Cultural web
Vision Statement
Short term Objectives
Conglomerate
18. They are often based on industry best practice.
mentality of a MNC manager
External Benchmarks
Strategic Information Systems
common practices when analyzing your competition
19. Is part of an organization for which there is a distinct external market for goods or services that is different from another SBU
Action Plan
Takeover
Strategic business unit
Resources leverage
20. 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?
Market fit
Strategic Planning
Operational fit
Short term Objectives
21. Studying the future and arranging the means for dealing with it - which encompass forecasting - selling goals - and determining actions. eg: Forecasting future staffing needs.
Blue ocean Strategy
Horizontal diversification
Planning
Focus
22. Risk associated with macro-economic forces.
SPAC
Extended Organization
Vision Statement
Systematic risk
23. 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
Value Statement
Core competences
Parts of Business Case
Scenarios
24. 1 Strategy Formulation 2 Strategy Development 3 Strategy Implementation 4 Strategy Evaluation
Off shoring
Stakeholder mapping
Strategic Planning Phase
Strategic Planning
25. 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
Scope
Operational fit
mentality of MNC
skills businesses need to create competitive advantage
26. 1 Capacity 2 Standards 3 Scheduling 4 Inventory 5 Control
types of competitive strategies for international businesses
Management Functions
Strategic Groups
Methodologies Of Operations
27. 1 SWOT analysis and environmental scanning 2 Long term objectives 3 Strategies to achieve these objectives are defined
Strategy Development
Vertical diversification
generic benchmarking
Descriptive Statistic
28. 1 Balance Scorecard
Market development
Performance Measures
Spin-off
Diversification
29. Identifies stakeholder expectations and power and helps in understanding political priorities.
Resources leverage
skills businesses need to create competitive advantage
Stakeholder mapping
Porters Competitive Strategies
30. 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
Secondary Research
international strategy
top-down
Private equity firm
31. Value - Exploit - Rare - Imitate - Substitute
skills businesses need to create competitive advantage
Action Plan
External Benchmarks
Parts of Business Case
32. The types of decisions made and direction created for a single business
Descriptive Statistic
Value chain
Business strategy
Descriptive Statistic
33. When a corporation can take synergistic advantage of administrative and support activities of the value chain in making an acquisition.
Long term Objectives
Operations
Management fit
Organizing
34. 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
Operations
Strategy Implementation
to maximize profits
external benchmarking
35. It is a system of moral principles and values that establish appropriate conduct.
Ethics
Horizontal diversification
Strategic method
Merger and Acquisition Process
36. 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.
efficiency frontier
Related diversification
Cost Leadership
Core competences
37. When a corporation can take synergistic advantage of relationships with suppliers and/or customers in making an acquisition.
Market fit
Takeover
Strategic Groups
Scope
38. The organization of a set of businesses that share identical or very similar strategies or strategic challenges.
Extended Organization
Strategic business unit (SBU)
Environmental scanning
Cultural web
39. Not necessarily considered HR core function like benefits plan administration - payroll administration - and background checks - etc.
Strategy Development
low-cost strategy
HR functions that can be outsourced
international strategy
40. It is the process that involves a systematic survey and interruption of relevant data to identify external opportunities and threats and to assess how these factors affect the organization currently and how they are likely to affect the organization
SWOT Analysis
Controlling
Environmental scanning
top-down
41. It is simple and effective process for collecting information on the organization's current state. It answers four basic question.
Off shoring
Strategic business unit
Value Statement
SWOT Analysis
42. When a corporation enters a new business in a different industry from that in which it currently operates and does not expect to achieve any value chain synergies through the combination.
Unrelated diversification
Vision Statement
PESTEL
efficiency frontier
43. Is concerned with the ways in which an organization exeeds its minimum obligations to stakeholders specified through regulation.
Strategy Evaluation
Secondary Research
Corporate social responsibility
Horizontal diversification
44. Sell more in existing markets - or enter new markets
Strategy Evaluation
to obtain profit growth
Demographic Factors
Directing
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.
Primary Research
Junk bond
Short term Objectives
Organization Structure
46. 1. talking to competitors - customers - and distributors 2. testing competitors products 3. view competitors exhibits at trade shows
Strategy Development
common practices when analyzing your competition
Internal Benchmarks
Strategy Formulation
47. 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.
External Benchmarks
mentality of MNC
Leveraged buyout (LBO)
Focus
48. A process where a company is bought primarily using debt. Typically engineered by management of the company - or by private equity firms.
Short term Objectives
Leveraged buyout (LBO)
Off shoring
Directing
49. Engaging in those activities that ensure effective operation - including leadership and motivation pf employee action towards goals. eg : Scheduling and conducting interview.
Strategic method
STEEP
Directing
Business model
50. A company in which 70-95% of revenue comes from a single business
Porters Competitive Strategies
CLO
Merger and Acquisition Process
Dominant business