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Test your basic knowledge |
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. 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
mentality of MNC
Strategic business unit
Leveraged buyout (LBO)
Five Forces
2. 1 Age 2 Gender 3 Generational Difference 4 Geographic shifts in population 5 Ethnicity 6 Unskilled Labor 7 Non traditional labor force
Demographic Factors
Leveraged buyout (LBO)
Strategy Development
Extended Organization
3. Risk associated with macro-economic forces.
External Benchmarks
To achieve competitive advantage and superior profitability
Value Statement
Systematic risk
4. The benefits that develop through the extension and application of corporate resources to a newly acquired company.
Resources leverage
Value Statement
Quantitative Analysis
Downscoping
5. 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)
Quantitative Analysis
Demographic Factors
Blue ocean Strategy
Secondary Research
6. 1 Cost Benefit Analysis 2 Return On Investment 3 Breakeven Analysis 4 Financial Statement Analysis
Financial Measures
Resources
international strategy
Strategy Development
7. 1 Vision and mission 2 Value Statement
Strategic Information Systems
Strategy Formulation
Methodologies Of Operations
Downscoping
8. Economic - legal resp. - ethical - and discretionary
differentiation
type of responsibilities of a business
Merger and Acquisition Process
Internal Benchmarks
9. Is part of an organization for which there is a distinct external market for goods or services that is different from another SBU
Mission Statement
Business Case
efficiency frontier
Strategic business unit
10. They are used to condense and summarize large quantities of data for quick understanding.
Short term Objectives
Unrelated diversification
Maturity
Descriptive Statistic
11. Organizations within an industry with similar strategic characteristics - following similar strategies or competing on similar bases
Strategic Groups
Business Life Cycle Phases
mentality of a MNC manager
Cost Leadership
12. 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
top-down
Scenarios
Value Statement
External Benchmarks
13. 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
Market development
Code of Ethics
Strategy Implementation
international strategy
14. primary activities and support activities
Diversification
value creating operations in the value chain of operation
mentality of a MNC manager
Blue ocean Strategy
15. Individuals or groups who depend on an organization to fulfill their own goals and on whom - in turn the organization depends.
Porters Competitive Strategies
Descriptive Statistic
Stakeholders
top-down
16. It can be defined as principles of conduct within an organization that guide decision making and behavior.
Resources
Code of Ethics
Methodologies Of Operations
efficiency frontier
17. A strategy by which an organisation offers existing products to new markets.
Vertical diversification
Market development
Financial Measures
Secondary Research
18. A tool to help you think about the wider issues that have an impact on the industry or service area as a whole - taking five main categories into account: Socio-cultural - Technological - Economic - Environmental - Political
generic benchmarking
Holding company
Secondary Research
STEEP
19. It uses data already gathered by others and reported in various sources.
Secondary Research
Ethics
Takeover
Balanced scorecards
20. It is a systematic process of gathering and analyzing all relevant data about external opportunities (emerging marketplace - additional capabilities provided through new technology.) and threats (emerging competition - shifts in marketplaces. )
Merger and Acquisition Process
Porters Competitive Strategies
Dominant business
Environmental Scanning
21. 1 Preparation 2 Due Diligence 3 Planning integration of the business entities 4 Implementation - monitoring and measurement
Merger and Acquisition Process
Descriptive Statistic
Methodologies Of Operations
Environmental scanning
22. Is the set of internationalization links and relationships that are necessary to create a product or service.
Leveraged buyout (LBO)
Private equity firm
Value network
Holding company
23. Risk associated with a particular business.
Descriptive Statistic
Ethics
Holding company
Unsystematic risk
24. Identifies stakeholder expectations and power and helps in understanding political priorities.
Stakeholder mapping
Private equity firm
Cost Leadership
Code of Ethics
25. 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
Parts of Business Case
mentality of a MNC manager
Unrelated diversification
26. Refers to an intensive investigation of all factors surrounding a business decision to ensure that all risks are understood.
Value network
Core Values
Descriptive Statistic
Due Diligence
27. 1 Introduction 2 Growth 3 Maturity 4 Decline
Operations
Financial Measures
Extended Organization
Business Life Cycle Phases
28. 1 Financial 2 Human 3 Physical 4 Technological
Quantitative Analysis
CLO
Resources
Long term Objectives
29. Adhering to set of governing principles whether the philosophy is one of fairness - individual rights - avoiding conflicts of interest or another philosophical grounding.
Cross-sector diversification
Ethical Behavior
Strategic capability
Internal Benchmarks
30. The organization of a set of businesses that share identical or very similar strategies or strategic challenges.
Descriptive Statistic
Strategic business unit (SBU)
Cultural web
Scenarios
31. 1. improve bidding success 2. identify competitors key customers 3. identify expansion plans 4. improve understanding of competitors
Five Forces
Due Diligence
benefits of competitor intelligence
Unrelated diversification
32. 1 Global Economy 2 Wage comparison 3 Trade Agreement 4 International Labor Law
Private equity firm
low-cost strategy
Strategic method
International Factors
33. 1 Balance Scorecard
Maturity
Performance Measures
Core competences
Merger and Acquisition Process
34. Comparing 1 operation in the firm with another
Cross-sector diversification
internal benchmarking
Action Plan
types of competitive strategies for international businesses
35. 1 Interest Rates 2 Gross Domestic Product (GDP) 3 Consumer Price Index (CPI) 4 Disposable Income 5 Inflation
Diversification
Economizing
Stakeholders
Economic Factors
36. 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
Secondary Research
Strategic business unit (SBU)
Downscoping
Cultural web
37. 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
functional benchmarking
Factors that affect external environment
Growth
key to success in strategic planning
38. 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
Strategy Formulation
Maturity
Holding company
Junk bond
39. It describes what is important to an organization and often dictate employee behavior. They are the heart of the culture of an organization.
Value Statement
Long term Objectives
Conglomerate
skills businesses need to create competitive advantage
40. 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.
Mid term Objectives
Organizing
Holding company
Descriptive Statistic
41. 1 Strategies are reviewed 2 Performance towards objective is measured 3 Corrective action is taken
Primary Research
Strategy Evaluation
Systematic risk
Off shoring
42. Engaging in those activities that ensure effective operation - including leadership and motivation pf employee action towards goals. eg : Scheduling and conducting interview.
Short term Objectives
Resources leverage
Directing
Stakeholder mapping
43. Where an individual (such as a corporate officer) acts on behalf of someone else (such as a shareholder)
Controlling
Strategic business unit
Agency
The law making Process
44. 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.
Descriptive Statistic
Purpose of benchmarks
Differentiation
Controlling
45. Acquisition of a company in a different industry - but which employs a similar value chain.
Cross-sector diversification
to maximize profits
Private equity firm
benefits of competitor intelligence
46. When a corporation is able to combine similar primary value chain activities.
Strategic business management
Factors that affect external environment
Secondary Research
Operational fit
47. A value creating strategy that creates more perceived value by primarily reducing costs
Business Life Cycle Phases
low-cost strategy
Strategic method
To achieve competitive advantage and superior profitability
48. Information systems with a charter to achieve competitive superiority.
Financial Measures
Strategic Information Systems
types of competitive strategies for international businesses
Purpose of benchmarks
49. 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.
Horizontal diversification
Unrelated diversification
Primary Research
Management fit
50. 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.
Parts of Business Case
Core competences
Blue ocean Strategy
primary activities of a business