SUBJECTS
|
BROWSE
|
CAREER CENTER
|
POPULAR
|
JOIN
|
LOGIN
Business Skills
|
Soft Skills
|
Basic Literacy
|
Certifications
About
|
Help
|
Privacy
|
Terms
|
Email
Search
Test your basic knowledge |
Business Strategy
Start Test
Study First
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 concerned with the structures and systems of control by which managers are held accountable to those who have a legitimate stake an organization.
Market Penetrati
Corporate governance
Secondary Research
Controlling
2. 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
Introduction
Private equity firm
Decline
Parts of Business Case
3. It uses data already gathered by others and reported in various sources.
Organization Structure
Unrelated diversification
Agency
Secondary Research
4. These are the detailed steps a unit - department - or team will take in order to achieve the short term objectives.
Maturity
Action Plan
Strategic Information Systems
STEEP
5. Cost savings accomplished by operating combined companies more efficiently.
Cultural web
Value network
Corporate social responsibility
Economizing
6. 1 Attitudes towards career 2 Immigration 3 Occupational and industry skills 4 Recruitment 5 Unions 6 Unemployment 7 Turnover 8 Relocation
Secondary Research
Purpose of benchmarks
To achieve competitive advantage and superior profitability
Employment Factors
7. Serve the purpose similar to short term objectives but are completed in 1 to 3 years.
Introduction
Mid term Objectives
Outsourcing
Scope
8. 1 Global Economy 2 Wage comparison 3 Trade Agreement 4 International Labor Law
common practices when analyzing your competition
efficiency frontier
Strategic business unit
International Factors
9. Sell more in existing markets - or enter new markets
Market Penetrati
to obtain profit growth
Extended Organization
Short term Objectives
10. 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
Factors that affect external environment
Mission Statement
low-cost strategy
Maturity
11. They are often based on industry best practice.
Resources
External Benchmarks
Ethical Behavior
Porters Competitive Strategies
12. A strategy by which an organization takes increased share of its existing markets with its existing product range.
International Factors
Business model
Market Penetrati
Internal Benchmarks
13. 1 Preparation 2 Due Diligence 3 Planning integration of the business entities 4 Implementation - monitoring and measurement
Marketing Mix
Merger and Acquisition Process
Vertical diversification
Purpose of benchmarks
14. Is concerned with the ways in which an organization exeeds its minimum obligations to stakeholders specified through regulation.
Corporate social responsibility
PESTEL
Primary Research
Economizing
15. 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
Cultural web
Quantitative Analysis
SMART Goals
Junk bond
16. 1 Strategies are reviewed 2 Performance towards objective is measured 3 Corrective action is taken
low-cost strategy
Dominant business
Employment Factors
Strategy Evaluation
17. 1. improve bidding success 2. identify competitors key customers 3. identify expansion plans 4. improve understanding of competitors
benefits of competitor intelligence
Value chain
Operations
Primary Research
18. It is a systematic process of gathering and analyzing all relevant data about external opportunities (emerging marketplace - additional capabilities provided through new technology.) and threats (emerging competition - shifts in marketplaces. )
Environmental Scanning
mentality of MNC
Business strategy
Merger and Acquisition Process
19. 1 Advances in technology 2 Technological skills 3 The digital divide 4 Process changes
Technological Factors
PESTEL
Organization Structure
Off shoring
20. Specific - Measurable - Attainable - Realistic - Timely
SMART Goals
Corporate strategy
Maturity
internal benchmarking
21. 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.
STEEP
Blue ocean Strategy
SMART Goals
Due Diligence
22. 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
to maximize profits
external benchmarking
Junk bond
Operations
23. 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.
Purpose of benchmarks
Ethics
Strategic Planning Phase
Focus
24. Detailed and plausible views of how the business environment of an organization might develop in the future based on key drivers for change about which there is a high level of uncertainty
Factors that affect external environment
types of competitive strategies for international businesses
Scenarios
Merger and Acquisition Process
25. Economic - legal resp. - ethical - and discretionary
Generational Difference
type of responsibilities of a business
Strategic business unit (SBU)
Technological Factors
26. 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
efficiency frontier
Unsystematic risk
Introduction
Secondary Research
27. Comparing operations in totally unrelated industries
to obtain profit growth
Resources leverage
Blue ocean Strategy
generic benchmarking
28. 1 Work Specialization 2 Departmentalization 3 Chain of Command 4 Centralization and Decentralization 5 Formalization
Mission Statement
Mid term Objectives
Organization Structure
Five Forces
29. It can be defined as principles of conduct within an organization that guide decision making and behavior.
Code of Ethics
Strategic method
Organizing
Unsystematic risk
30. Organizations within an industry with similar strategic characteristics - following similar strategies or competing on similar bases
Cultural web
Strategic Groups
primary activities of a business
top-down
31. 1 SWOT analysis and environmental scanning 2 Long term objectives 3 Strategies to achieve these objectives are defined
Scenarios
Diversification
Strategy Development
top-down
32. It is simple and effective process for collecting information on the organization's current state. It answers four basic question.
Five Forces
mentality of a MNC manager
Strategy Implementation
SWOT Analysis
33. 1 Traditional Generation 2 Baby Boom Generation 3 Generation X 4 Generation Y
Business Case
Generational Difference
Vertical diversification
Junk bond
34. 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.
Strategy Formulation
Differentiation
international strategy
skills businesses need to create competitive advantage
35. They are used to condense and summarize large quantities of data for quick understanding.
Market Penetrati
Descriptive Statistic
Business model
Performance Measures
36. Ensuring that everything is carried out according to the plan. Eg: Measuring recruiting efforts and effectiveness.
Controlling
Management Functions
Mission Statement
type of responsibilities of a business
37. 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
international strategy
Introduction
Quantitative Analysis
Scenarios
38. Corporation that owns the majority of voting shares of other companies - but that allows the other companies to operate as independent entities.
common practices when analyzing your competition
Inferential Statistic
to increase profitability
Holding company
39. A strategy by which an organization peruses new product offerings and new markets.
Operations
Diversification
Management fit
Horizontal diversification
40. Processes and activities used to formulate HR objectives - practices - and policies.
Resources
SWOT Analysis
Strategy Evaluation
Strategic business management
41. 1 Strategy Formulation 2 Strategy Development 3 Strategy Implementation 4 Strategy Evaluation
Mid term Objectives
Vision Statement
Strategic Planning Phase
Market fit
42. The benefits that develop through the extension and application of corporate resources to a newly acquired company.
Resources leverage
Ethics
Related diversification
Five Forces
43. Individuals or groups who depend on an organization to fulfill their own goals and on whom - in turn the organization depends.
skills businesses need to create competitive advantage
Stakeholders
Merger and Acquisition Process
to obtain profit growth
44. 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.
SPAC
Operations
Strategic capability
Scenarios
45. 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)
generic benchmarking
key to success in strategic planning
Secondary Research
Market Penetrati
46. It describes what is important to an organization and often dictate employee behavior. They are the heart of the culture of an organization.
Growth
Value Statement
Strategic business unit
Business Life Cycle Phases
47. Comparing similar functional firms in your industry
Employment Factors
Generational Difference
Market Penetrati
functional benchmarking
48. 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.
Primary Research
Strategic business unit (SBU)
Strategic capability
Takeover
49. Internal Benchmarks establish levels of current performance of a particular tasks - such as cost per hire.
Cultural web
Scenarios
Internal Benchmarks
Business strategy
50. When a corporation can take synergistic advantage of relationships with suppliers and/or customers in making an acquisition.
Controlling
Market fit
Marketing Mix
Organizing