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. 1 Global Economy 2 Wage comparison 3 Trade Agreement 4 International Labor Law






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






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






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






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






6. The political - economic - social - technological - environmental - and legal dimensions of an organization's external environment.






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






8. 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. )






9. 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






10. Value - Exploit - Rare - Imitate - Substitute






11. 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






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






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






14. 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






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






16. Comparing similar functional firms in your industry






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






18. 1 Age 2 Gender 3 Generational Difference 4 Geographic shifts in population 5 Ethnicity 6 Unskilled Labor 7 Non traditional labor force






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






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






21. 1 They can help to identify improvements in an organization's performance that can be attributed to the projects 2 They can suggest appropriate targets for improvement to be included in project objectives.






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






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






24. 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"






25. 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






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






27. 1 Strategies are reviewed 2 Performance towards objective is measured 3 Corrective action is taken






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






29. A strategy by which an organization peruses new product offerings and new markets.






30. 1 Planning 2 Organizing 3 Directing 4 Controlling






31. 1 Experiments 2 Pilot Projects 3 Surveys/questionnaires 4 Interviews (exit - panel - individual) 5 Focus group 6 Direct observation 7 Testing






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






33. 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.






34. primary activities and support activities






35. 1 Capacity 2 Standards 3 Scheduling 4 Inventory 5 Control






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






37. 1 Introduction 2 Growth 3 Maturity 4 Decline






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






39. Comparing operations in totally unrelated industries






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






41. Risk associated with macro-economic forces.






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






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






44. Describes the structure of product - service - and information flows and the role of participating parties.






45. 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






46. 1 Organizational Strategy 2 Business unit strategy 3 Functional Strategy






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






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






49. 1 Balance Scorecard






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