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






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






3. 1 Population 2 Sample 3 Normal Distribution






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






5. 1 Global Economy 2 Wage comparison 3 Trade Agreement 4 International Labor Law






6. 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






7. 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.






8. Value - Exploit - Rare - Imitate - Substitute






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






10. 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






11. 1. multinational 2. global 3. transnational






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






13. 1 Work Specialization 2 Departmentalization 3 Chain of Command 4 Centralization and Decentralization 5 Formalization






14. Organization become entrenched in rules and policies and leadership become resistant to change. series of efforts to turn the tide such as product enhancement or cost reduction programs. If unsuccessful in these then will focus on reducing workforce






15. Risk associated with a particular business.






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






17. 1 Cost Benefit Analysis 2 Return On Investment 3 Breakeven Analysis 4 Financial Statement Analysis






18. Internal Benchmarks establish levels of current performance of a particular tasks - such as cost per hire.






19. 1 Statement of the problem 2 Objectives 3 Description of potential solution 4 Project Time line 5 Project Metrics.






20. Organization that follow this approach are not competing in an established market. They see themselves as a creating entirely new value. This strategy values innovation - creativity and rule breaking.






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






22. 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)






23. 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"






24. Comparing operations in totally unrelated industries






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






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






27. 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






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. )






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






30. To achieve cost advantage - an organization has to be the low cost producer in its industry.The finished products of low cost producers are sold at prices that beat the competition. These industries depend on volume to provide profit and is less bra






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






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






33. Is the means by which a strategy can be pursued.






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






35. 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.






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






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






38. When a corporation is able to combine similar primary value chain activities.






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






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






41. 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






42. 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






43. 1 Financial 2 Human 3 Physical 4 Technological






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






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. Information systems with a charter to achieve competitive superiority.






47. Quality of information and interpretation of it






48. 1. a graph demonstrating the different positions a firm can adopt in creating value 2. compares value and differentiation (Y) versus high cost to low cost (x)






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






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







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