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






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






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






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






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






6. Is the set of internationalization links and relationships that are necessary to create a product or service.






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






8. 1 Interest Rates 2 Gross Domestic Product (GDP) 3 Consumer Price Index (CPI) 4 Disposable Income 5 Inflation






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






10. 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






11. 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?






12. 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






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






14. 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.






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






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






17. Private (nonpublic) corporations or partnerships that use their financial resources to engineer buyouts and acquisitions of other companies.






18. It is a system of moral principles and values that establish appropriate conduct.






19. 1 Capacity 2 Standards 3 Scheduling 4 Inventory 5 Control






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






21. 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.






22. The benefits that develop through the extension and application of corporate resources to a newly acquired company.






23. Sell more in existing markets - or enter new markets






24. 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. )






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






26. 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






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






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






29. They are often based on industry best practice.






30. 1 SWOT analysis and environmental scanning 2 Long term objectives 3 Strategies to achieve these objectives are defined






31. 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"






32. Cut costs - add value - or increase prices






33. 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






34. 1 Attitudes towards career 2 Immigration 3 Occupational and industry skills 4 Recruitment 5 Unions 6 Unemployment 7 Turnover 8 Relocation






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






36. 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)






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






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






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






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






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






42. 1 Experiments 2 Pilot Projects 3 Surveys/questionnaires 4 Interviews (exit - panel - individual) 5 Focus group 6 Direct observation 7 Testing






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






44. A plant or service department is moved to another country. Although separated geographically - the off shored entity remains part of the organization - and workers are still employees of the organization.






45. 1 Cost Leadership 2 Differentiation 3 Focus






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






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






48. 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






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






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