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






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






3. 1 Charts and graphs 2 Measures of central tendency 3 Measures of variation 4 Measures of association






4. It describes a project in detail and shows how it will contribute value to the organization and provides sufficient information about how the project will be designed - implemented - and measured to enable the organization's leaders to make informe






5. 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.






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






7. 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






8. 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?






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






10. 1 Cost Leadership 2 Differentiation 3 Focus






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






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






13. The categories of activities within and around an organization which together create a product or service.






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






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






16. 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.






17. These are the detailed steps a unit - department - or team will take in order to achieve the short term objectives.






18. 1 Work Specialization 2 Departmentalization 3 Chain of Command 4 Centralization and Decentralization 5 Formalization






19. 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.






20. Not necessarily considered HR core function like benefits plan administration - payroll administration - and background checks - etc.






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






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






23. 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






24. 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






25. 1 Statement of the problem 2 Objectives 3 Description of potential solution 4 Project Time line 5 Project Metrics.






26. 1 Cost Benefit Analysis 2 Return On Investment 3 Breakeven Analysis 4 Financial Statement Analysis






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






28. Risk associated with macro-economic forces.






29. The underlying principles that guide an organization's strategy






30. 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.






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






32. Comparing 1 operation in the firm with another






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






34. 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.






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






36. Comparing similar functional firms in your industry






37. Ability to broaden a product line or a customer base achieved through an acquisition.






38. 1 Vision and mission 2 Value Statement






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






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






41. 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






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






43. 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






44. 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






45. 1 Strategies are reviewed 2 Performance towards objective is measured 3 Corrective action is taken






46. 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.






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






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






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






50. 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







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