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






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






3. These objectives are generally achieved within 3 to 5 years. Establishing these objectives provides direction - synergy and aids in establishing guidelines for evaluation.






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






5. 1 Vision and mission 2 Value Statement






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






7. Combine both qualitative and quantitative measures - acknowledge the expectations of different stakeholders and relate an assessment of performance to choice of strategy.






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






9. 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.






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






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






12. They represent milestones that must be achieved in order to reach the long term objectives. They are usually within 6 months to a year.






13. Specific - Measurable - Attainable - Realistic - Timely






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






15. 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?






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






17. 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.






18. A strategy by which an organization takes increased share of its existing markets with its existing product range.






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






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






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






22. 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






23. These are the detailed steps a unit - department - or team will take in order to achieve the short term objectives.






24. 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






25. 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.






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






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






29. 1 Strategies are reviewed 2 Performance towards objective is measured 3 Corrective action is taken






30. Business remain separate entities but may appear to outsiders as one entity. Commonly formed through the use of outsourcing.






31. Risk associated with macro-economic forces.






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






33. 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. )






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 Age 2 Gender 3 Generational Difference 4 Geographic shifts in population 5 Ethnicity 6 Unskilled Labor 7 Non traditional labor force






36. 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






37. 1 Strategy Formulation 2 Strategy Development 3 Strategy Implementation 4 Strategy Evaluation






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






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






40. Those product features with which a organization must outperform the competition because they are particularly valued by a group of customers.






41. Identifies stakeholder expectations and power and helps in understanding political priorities.






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






43. It is a vivid - guiding image of the organization's desired future. It is the ultimate picture of what leadership envisions for the organization.






44. 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.






45. Refers to an intensive investigation of all factors surrounding a business decision to ensure that all risks are understood.






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






47. Views the world as its unit of analysis - Plants are built to provide local marketing advantages - recognizes the importance of being flexible at the country-level operations - more responsive to local needs






48. 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)






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






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







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