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Business Strategy
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Study First
Subject
:
business-skills
Instructions:
Answer 50 questions in 15 minutes.
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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. Quality of information and interpretation of it
Strategy Development
Core competences
Stakeholders
key to success in strategic planning
2. The decisions made and the direction provided for managing multiple business units under a single corporate umbrella.
Corporate strategy
Scenarios
top-down
SMART Goals
3. When a corporation reduces its level of diversification and strategically refocuses on core businesses where the synergies of scope - economizing - and leverage are more evident and more easily realized.
Ethics
Economic Factors
Market development
Downscoping
4. 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
Scenarios
Cost Leadership
skills businesses need to create competitive advantage
Mission Statement
5. When a corporation can take synergistic advantage of relationships with suppliers and/or customers in making an acquisition.
Private equity firm
to obtain profit growth
Market fit
functional benchmarking
6. 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
SWOT Analysis
Inferential Statistic
Cultural web
Unrelated diversification
7. 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)
Factors that affect external environment
Secondary Research
Primary Research
Private equity firm
8. 1 Statement of the problem 2 Objectives 3 Description of potential solution 4 Project Time line 5 Project Metrics.
CLO
Parts of Business Case
Strategic business unit
Value chain
9. 1 Cost Benefit Analysis 2 Return On Investment 3 Breakeven Analysis 4 Financial Statement Analysis
Internal Benchmarks
Merger and Acquisition Process
Management Functions
Financial Measures
10. 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
Management fit
to obtain profit growth
Off shoring
top-down
11. 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.
Strategies at three levels
Demographic Factors
Cross-sector diversification
Focus
12. Not necessarily considered HR core function like benefits plan administration - payroll administration - and background checks - etc.
HR functions that can be outsourced
types of competitive strategies for international businesses
Strategic Planning
Five Forces
13. Acquisition of a company in a different industry - but which employs a similar value chain.
Cross-sector diversification
Environmental scanning
Cost Leadership
to maximize profits
14. The types of decisions made and direction created for a single business
Environmental scanning
Performance Measures
Business strategy
to increase profitability
15. Those product features with which a organization must outperform the competition because they are particularly valued by a group of customers.
Diversification
Critical success factors
Internal Benchmarks
bottom-up
16. 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
Balanced scorecards
international strategy
Inferential Statistic
Takeover
17. 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
External Benchmarks
Core Values
Business model
STEEP
18. 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.
Organizing
Related diversification
Demographic Factors
Factors that affect external environment
19. Economic - legal resp. - ethical - and discretionary
primary activities of a business
Due Diligence
International Factors
type of responsibilities of a business
20. 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
Corporate social responsibility
Five Forces
Ethical Behavior
Emergent Strategy
21. Risk associated with a particular business.
Strategies at three levels
PESTEL
Unsystematic risk
Strategy Evaluation
22. Comparing operations in totally unrelated industries
Corporate social responsibility
Vertical diversification
Maturity
generic benchmarking
23. It can be defined as principles of conduct within an organization that guide decision making and behavior.
Merger and Acquisition Process
Code of Ethics
External Benchmarks
Value chain
24. When a corporation enters a new business in a different industry from that in which it currently operates and does not expect to achieve any value chain synergies through the combination.
external benchmarking
Strategy Formulation
Unrelated diversification
Primary Research
25. 1 Vision and mission 2 Value Statement
Employment Factors
Business Case
Primary Research
Strategy Formulation
26. Is the means by which a strategy can be pursued.
Technological Factors
Vision Statement
Stakeholders
Strategic method
27. 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?
Strategic Planning
Off shoring
Demographic Factors
Methodologies Of Operations
28. 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. )
Focus
Action Plan
Environmental Scanning
Value network
29. Acquisition of another company upstream (supplier) or downstream (buyer) in the value chain of the same industry in which the corporation operates.
Agency
functional benchmarking
Strategies at three levels
Vertical diversification
30. 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
efficiency frontier
Employment Factors
SWOT Analysis
Environmental scanning
31. 1 Interest Rates 2 Gross Domestic Product (GDP) 3 Consumer Price Index (CPI) 4 Disposable Income 5 Inflation
bottom-up
Economic Factors
Unsystematic risk
Strategic business management
32. A strategy by which an organization peruses new product offerings and new markets.
Organizing
Market Penetrati
Diversification
Primary Research
33. 1. multinational 2. global 3. transnational
Strategy Implementation
types of competitive strategies for international businesses
Business model
Strategic Planning Phase
34. Is concerned with the structures and systems of control by which managers are held accountable to those who have a legitimate stake an organization.
Ethical Behavior
Business Life Cycle Phases
Outsourcing
Corporate governance
35. Information systems with a charter to achieve competitive superiority.
Planning
Strategic Information Systems
STEEP
differentiation
36. 1 Advances in technology 2 Technological skills 3 The digital divide 4 Process changes
efficiency frontier
Technological Factors
Cultural web
Differentiation
37. primary activities and support activities
value creating operations in the value chain of operation
Business Case
CLO
Dominant business
38. Private (nonpublic) corporations or partnerships that use their financial resources to engineer buyouts and acquisitions of other companies.
Private equity firm
bottom-up
Inferential Statistic
Horizontal diversification
39. 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.
Merger and Acquisition Process
Operations
efficiency frontier
Off shoring
40. Business remain separate entities but may appear to outsiders as one entity. Commonly formed through the use of outsourcing.
Vertical diversification
SWOT Analysis
Long term Objectives
Extended Organization
41. It uses data already gathered by others and reported in various sources.
Secondary Research
Dominant business
Strategic Information Systems
common practices when analyzing your competition
42. Is part of an organization for which there is a distinct external market for goods or services that is different from another SBU
Strategic business unit
Short term Objectives
Vertical diversification
Purpose of benchmarks
43. A company in which 70-95% of revenue comes from a single business
Strategic Information Systems
Dominant business
to maximize profits
Secondary Research
44. The organization of a set of businesses that share identical or very similar strategies or strategic challenges.
value creating operations in the value chain of operation
Related diversification
Strategic business unit (SBU)
Conglomerate
45. Combine both qualitative and quantitative measures - acknowledge the expectations of different stakeholders and relate an assessment of performance to choice of strategy.
Ethics
Balanced scorecards
Employment Factors
Resources leverage
46. A strategy by which an organization takes increased share of its existing markets with its existing product range.
Strategic Groups
Market Penetrati
international strategy
Descriptive Statistic
47. It is a vivid - guiding image of the organization's desired future. It is the ultimate picture of what leadership envisions for the organization.
Vision Statement
Code of Ethics
value creating operations in the value chain of operation
Business strategy
48. Ability to broaden a product line or a customer base achieved through an acquisition.
benefits of competitor intelligence
Scope
Dominant business
Financial Measures
49. It describes what is important to an organization and often dictate employee behavior. They are the heart of the culture of an organization.
Porters Competitive Strategies
Value Statement
Strategic business management
Business Case
50. 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
Strategic business unit (SBU)
Internal Benchmarks
Junk bond
Business model
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