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. Comparing a the firms operations with a direct competitor






2. 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.






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






4. 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






5. 1 Population 2 Sample 3 Normal Distribution






6. 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






7. 1 Strategy Formulation 2 Strategy Development 3 Strategy Implementation 4 Strategy Evaluation






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






9. 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.






10. Comparing similar functional firms in your industry






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






12. 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






13. Risk associated with a particular business.






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






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






16. 1 SWOT analysis and environmental scanning 2 Long term objectives 3 Strategies to achieve these objectives are defined






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






18. 1 The rule is proposed 2 Public comment is invited 3 The final rule is issued






19. Acquisition of a company in a different industry - but which employs a similar value chain.






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






21. Is concerned with the ways in which an organization exeeds its minimum obligations to stakeholders specified through regulation.






22. 1 Preparation 2 Due Diligence 3 Planning integration of the business entities 4 Implementation - monitoring and measurement






23. It refers to relocation of processes or functions from a home country to another country and it appeals to organization for cost saving.






24. 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






25. 1. multinational 2. global 3. transnational






26. 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






27. 1 Capacity 2 Standards 3 Scheduling 4 Inventory 5 Control






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






29. 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






30. 1. choose a viable position on efficiency frontier 2. configure its internal ops to support the chosen position 3.ensure firm has the right orginizational structure in place to execute its strategy






31. 1 Vision and mission 2 Value Statement






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






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






35. 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






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






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






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






39. 1 Statement of the problem 2 Objectives 3 Description of potential solution 4 Project Time line 5 Project Metrics.






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






41. 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






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






43. 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.






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






45. 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.






46. A strategy by which an organisation offers existing products to new markets.






47. Comparing operations in totally unrelated industries






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






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






50. Risk associated with macro-economic forces.