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






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






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






4. Specific - Measurable - Attainable - Realistic - Timely






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






6. 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.






7. Risk associated with macro-economic forces.






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






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






10. 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.






11. Comparing operations in totally unrelated industries






12. 1 Preparation 2 Due Diligence 3 Planning integration of the business entities 4 Implementation - monitoring and measurement






13. 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.






14. 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






15. 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






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






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






18. 1 Population 2 Sample 3 Normal Distribution






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






20. 1 The rule is proposed 2 Public comment is invited 3 The final rule is issued






21. 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






22. 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






23. It uses data already gathered by others and reported in various sources.






24. 1 Vision and mission 2 Value Statement






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






26. 1 Traditional Generation 2 Baby Boom Generation 3 Generation X 4 Generation Y






27. 1 Demographic Factors 2 Economic Factors 3 Employment Factors 4 International Factors 5 Political Factors 6 Social Factors 7 Technological Factors






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






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. 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






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






33. 1 Interest Rates 2 Gross Domestic Product (GDP) 3 Consumer Price Index (CPI) 4 Disposable Income 5 Inflation






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






35. 1 Advances in technology 2 Technological skills 3 The digital divide 4 Process changes






36. 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.






37. 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






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






39. 1. multinational 2. global 3. transnational






40. 1 Introduction 2 Growth 3 Maturity 4 Decline






41. Organizations within an industry with similar strategic characteristics - following similar strategies or competing on similar bases






42. 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.






43. 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.






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






45. 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.






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






47. 1 Capacity 2 Standards 3 Scheduling 4 Inventory 5 Control






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






49. 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"






50. 1 Cost Benefit Analysis 2 Return On Investment 3 Breakeven Analysis 4 Financial Statement Analysis