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






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






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






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






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






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






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






8. Divestiture in which a corporation creates a new company out of one of its businesses. The new company has its own shares of stock and shareholders - and its own board of directors. Typically - shareholders of the corporation will receive newly iss






9. 1 Traditional Generation 2 Baby Boom Generation 3 Generation X 4 Generation Y






10. 1 Global Economy 2 Wage comparison 3 Trade Agreement 4 International Labor Law






11. 1 Preparation 2 Due Diligence 3 Planning integration of the business entities 4 Implementation - monitoring and measurement






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






13. Specific - Measurable - Attainable - Realistic - Timely






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






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. 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






17. 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






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






19. 1 Demographic Factors 2 Economic Factors 3 Employment Factors 4 International Factors 5 Political Factors 6 Social Factors 7 Technological Factors






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






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






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






23. Comparing operations in totally unrelated industries






24. 1 Organizational Strategy 2 Business unit strategy 3 Functional Strategy






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






26. 1 The rule is proposed 2 Public comment is invited 3 The final rule is issued






27. A merger or acquisition where there is some similarity of industry and/or value chain between the corporation and the company it seeks to acquire.






28. 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






29. 1 Advances in technology 2 Technological skills 3 The digital divide 4 Process changes






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






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






32. 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"






33. 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






34. Describes the structure of product - service - and information flows and the role of participating parties.






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. 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






37. 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.






38. 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






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






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






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






42. 1 Interest Rates 2 Gross Domestic Product (GDP) 3 Consumer Price Index (CPI) 4 Disposable Income 5 Inflation






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






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






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






46. 1 Cost Leadership 2 Differentiation 3 Focus






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






48. A process and goal: the process: choices regarding acquiring and using scared resources: the goal: maintain and achieving a unique and valuable position in the international market






49. Comparing a the firms operations with a direct competitor






50. 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