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






2. 1 Preparation 2 Due Diligence 3 Planning integration of the business entities 4 Implementation - monitoring and measurement






3. 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






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






5. 1 Global Economy 2 Wage comparison 3 Trade Agreement 4 International Labor Law






6. 1 Traditional Generation 2 Baby Boom Generation 3 Generation X 4 Generation Y






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






8. Processes and activities used to formulate HR objectives - practices - and policies.






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






10. 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






11. They are often based on industry best practice.






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






13. A participative approach to planning in which there is involvement at all levels; plans are developed at the lower levels of an organisation and funnelled up through consecutive levels until they reach top management - advantage:People are responsibl






14. 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






15. Comparing 1 operation in the firm with another






16. 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






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






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






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






20. 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






21. 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.






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






23. 1. information systems 2. logistics 3. HR






24. 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.






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






26. 1 Capacity 2 Standards 3 Scheduling 4 Inventory 5 Control






27. Comparing a the firms operations with a direct competitor






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






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






30. The benefits that develop through the extension and application of corporate resources to a newly acquired company.






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






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






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






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






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






36. Special Purpose Acquisition Company. Empty-shell firms that promise to buy businesses with the proceeds of their initial public stock offerings.






37. 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)






38. 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.






39. 1 Financial 2 Human 3 Physical 4 Technological






40. 1 Strategy Formulation 2 Strategy Development 3 Strategy Implementation 4 Strategy Evaluation






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






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






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






44. Cut costs - add value - or increase prices






45. 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.






46. 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"






47. A process or function previously performed by an organization is transferred to a separate entity. The workers now performing this function are not employees of the organization but they are employees of entity to whom the work is given.






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






49. 1 Cost Leadership 2 Differentiation 3 Focus






50. 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.