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. Is the means by which a strategy can be pursued.






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






3. 1 They can help to identify improvements in an organization's performance that can be attributed to the projects 2 They can suggest appropriate targets for improvement to be included in project objectives.






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






5. Cost savings accomplished by operating combined companies more efficiently.






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






7. 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






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






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






10. 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






11. 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.






12. 1. multinational 2. global 3. transnational






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






14. 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






15. 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.






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






17. 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






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






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






20. Corporation that owns the majority of voting shares of other companies - but that allows the other companies to operate as independent entities.






21. Comparing operations in totally unrelated industries






22. 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.






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






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






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






26. 1 Cost Leadership 2 Differentiation 3 Focus






27. Risk associated with a particular business.






28. 1 Organizational Strategy 2 Business unit strategy 3 Functional Strategy






29. 1 Balance Scorecard






30. The decisions made and the direction provided for managing multiple business units under a single corporate umbrella.






31. 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)






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






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






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






35. 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.






36. 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.






37. 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.






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






39. A strategy by which an organization peruses new product offerings and new markets.






40. Value - Exploit - Rare - Imitate - Substitute






41. Specific - Measurable - Attainable - Realistic - Timely






42. 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






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






44. It can be defined as principles of conduct within an organization that guide decision making and behavior.






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






46. 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






47. 1 Cost Benefit Analysis 2 Return On Investment 3 Breakeven Analysis 4 Financial Statement Analysis






48. 1 Demographic Factors 2 Economic Factors 3 Employment Factors 4 International Factors 5 Political Factors 6 Social Factors 7 Technological Factors






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






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