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Business Strategy

Subject : business-skills
  • Answer 50 questions in 15 minutes.
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  • Match each statement with the correct term.
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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. A value creating strategy that primary increases perceived value by increasing attractiveness of product

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

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

4. Processes and activities used to formulate HR objectives - practices - and policies.

5. 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

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

7. Quality of information and interpretation of it

8. 1 Strategies are reviewed 2 Performance towards objective is measured 3 Corrective action is taken

9. 1 Organizational Strategy 2 Business unit strategy 3 Functional Strategy

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

11. A value creating strategy that creates more perceived value by primarily reducing costs

12. 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. )

13. 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

14. Ensure that organization's strategy and operations are consistent with each other

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

16. 1 Population 2 Sample 3 Normal Distribution

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. Comparing operations in totally unrelated industries

19. Individuals or groups who depend on an organization to fulfill their own goals and on whom - in turn the organization depends.

20. 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.

21. When a corporation reduces its level of diversification and strategically refocuses on core businesses where the synergies of scope - economizing - and leverage are more evident and more easily realized.

22. 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.

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

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

25. Scheduling problems are largely resolved - and staffing and organizational culture begin to stabilize. Policies - procedures and rules are formalized and communicated to all employees. Training gains added emphasis in this phase to maintain flexibi

26. When a corporation can take synergistic advantage of administrative and support activities of the value chain in making an acquisition.

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

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

29. 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

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

31. 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

32. They are often based on industry best practice.

33. 1 Cost Benefit Analysis 2 Return On Investment 3 Breakeven Analysis 4 Financial Statement Analysis

34. 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

35. 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.

36. 1 Capacity 2 Standards 3 Scheduling 4 Inventory 5 Control

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

38. Risk associated with macro-economic forces.

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

40. 1. R&D 2. production 3. marketing and sales 4. customer service

41. 1 Attitudes towards career 2 Immigration 3 Occupational and industry skills 4 Recruitment 5 Unions 6 Unemployment 7 Turnover 8 Relocation

42. 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

43. 1 Charts and graphs 2 Measures of central tendency 3 Measures of variation 4 Measures of association

44. Ability to broaden a product line or a customer base achieved through an acquisition.

45. 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"

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

47. 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

48. The underlying principles that guide an organization's strategy

49. 1 Financial 2 Human 3 Physical 4 Technological

50. 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.