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






2. 1 Financial 2 Human 3 Physical 4 Technological






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






4. 1 Cost Leadership 2 Differentiation 3 Focus






5. Cut costs - add value - or increase prices






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






7. Comparing a the firms operations with a direct competitor






8. 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






9. 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






10. 1 Advances in technology 2 Technological skills 3 The digital divide 4 Process changes






11. They are used to condense and summarize large quantities of data for quick understanding.






12. 1 Interest Rates 2 Gross Domestic Product (GDP) 3 Consumer Price Index (CPI) 4 Disposable Income 5 Inflation






13. 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?






14. 1 Planning 2 Organizing 3 Directing 4 Controlling






15. A corporation that owns a large number of businesses that are different sizes and operate in different industry sectors.






16. Adhering to set of governing principles whether the philosophy is one of fairness - individual rights - avoiding conflicts of interest or another philosophical grounding.






17. 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.






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






19. 1 Preparation 2 Due Diligence 3 Planning integration of the business entities 4 Implementation - monitoring and measurement






20. 1. multinational 2. global 3. transnational






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






22. Risk associated with macro-economic forces.






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






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






25. 1 Short term objective 2 Action plan to achieve these objective 3 Allocating resources 4 Motivating employees to manage the plan.






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






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






28. 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






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






30. 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






31. 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"






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






33. It is based on numeric data that is analyzed with statistic method. 1 Descriptive Statistic 2 Inferential Statistic






34. 1 Organizational Strategy 2 Business unit strategy 3 Functional Strategy






35. 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)






36. 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.






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






38. Ensuring that everything is carried out according to the plan. Eg: Measuring recruiting efforts and effectiveness.






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






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






41. Organization become entrenched in rules and policies and leadership become resistant to change. series of efforts to turn the tide such as product enhancement or cost reduction programs. If unsuccessful in these then will focus on reducing workforce






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






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






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






45. 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)






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






47. 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






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






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






50. New ideas should not be dismissed simply because they originated at a grassroots level. Business innovations developed under these circumstances will create new objectives or modify existing ones and create an overlay of new direction compared to wha