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. It is a system of moral principles and values that establish appropriate conduct.






2. 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






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






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






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






6. Risk associated with a particular business.






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






8. The resources and competences of an organization needed for it to survive and prosper.






9. 1 Planning 2 Organizing 3 Directing 4 Controlling






10. Comparing operations in totally unrelated industries






11. 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"






12. Comparing similar functional firms in your industry






13. 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.






14. The choices made through the 4 Ps : Product - Price - Place and Promotion are what makes a product or service unique. This is distinctive blend of marketing decision.






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






16. Comparing a the firms operations with a direct competitor






17. Is part of an organization for which there is a distinct external market for goods or services that is different from another SBU






18. 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






19. Internal Benchmarks establish levels of current performance of a particular tasks - such as cost per hire.






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






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






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






23. 1 Financial 2 Human 3 Physical 4 Technological






24. A process where a company is bought primarily using debt. Typically engineered by management of the company - or by private equity firms.






25. 1 Traditional Generation 2 Baby Boom Generation 3 Generation X 4 Generation Y






26. 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.






27. Sell more in existing markets - or enter new markets






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






29. 1 Introduction 2 Growth 3 Maturity 4 Decline






30. 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.






31. 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






32. 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.






33. A strategy by which an organisation offers existing products to new markets.






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






35. 1. a graph demonstrating the different positions a firm can adopt in creating value 2. compares value and differentiation (Y) versus high cost to low cost (x)






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






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






38. 1 Demographic Factors 2 Economic Factors 3 Employment Factors 4 International Factors 5 Political Factors 6 Social Factors 7 Technological Factors






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






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.






41. Is concerned with the structures and systems of control by which managers are held accountable to those who have a legitimate stake an organization.






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






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






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






45. Acquisition of a company that operates in the same industry using the same value chain.






46. Serve the purpose similar to short term objectives but are completed in 1 to 3 years.






47. 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






48. 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






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. 1 Experiments 2 Pilot Projects 3 Surveys/questionnaires 4 Interviews (exit - panel - individual) 5 Focus group 6 Direct observation 7 Testing