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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. Studying the future and arranging the means for dealing with it - which encompass forecasting - selling goals - and determining actions. eg: Forecasting future staffing needs.






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






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






4. 1 Balance Scorecard






5. 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






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






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






8. The decisions made and the direction provided for managing multiple business units under a single corporate umbrella.






9. 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.






10. 1 Age 2 Gender 3 Generational Difference 4 Geographic shifts in population 5 Ethnicity 6 Unskilled Labor 7 Non traditional labor force






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






12. 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






13. Shows the behavioral - physical and symbolic manifestations of a culture that inform and are informed by the taken-for-granted assumptions - or paradigm - of an organisation






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






15. 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






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






17. 1 Interest Rates 2 Gross Domestic Product (GDP) 3 Consumer Price Index (CPI) 4 Disposable Income 5 Inflation






18. 1 Financial 2 Human 3 Physical 4 Technological






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






20. Quality of information and interpretation of it






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






22. 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.






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






24. Value - Exploit - Rare - Imitate - Substitute






25. 1 Demographic Factors 2 Economic Factors 3 Employment Factors 4 International Factors 5 Political Factors 6 Social Factors 7 Technological Factors






26. 1 Short term objective 2 Action plan to achieve these objective 3 Allocating resources 4 Motivating employees to manage the plan.






27. 1 The rule is proposed 2 Public comment is invited 3 The final rule is issued






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






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






30. 1 Capacity 2 Standards 3 Scheduling 4 Inventory 5 Control






31. Risk associated with macro-economic forces.






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






33. 1. multinational 2. global 3. transnational






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






35. 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.






36. A method of planning in which corporate hq develops and provides guidelines - disadvantages: the method of planning restricts initiative at lower level - shows insensitivity to local conditions - advantages: headquarters formulates a plan; this ensur






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






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






39. 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






40. 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






41. 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






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






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






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






45. 1 Strategies are reviewed 2 Performance towards objective is measured 3 Corrective action is taken






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






47. primary activities and support activities






48. Comparing similar functional firms in your industry






49. 1 Preparation 2 Due Diligence 3 Planning integration of the business entities 4 Implementation - monitoring and measurement






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







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