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






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






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






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






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






6. 1 Traditional Generation 2 Baby Boom Generation 3 Generation X 4 Generation Y






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






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






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






10. The skills and abilities by which resources are deployed through an organization's activities and processes such as to achieve competitive advantage in ways that others cannot imitate or obtain.






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






12. Acquisition of another company upstream (supplier) or downstream (buyer) in the value chain of the same industry in which the corporation operates.






13. Corporation that owns the majority of voting shares of other companies - but that allows the other companies to operate as independent entities.






14. 1 Organizational Strategy 2 Business unit strategy 3 Functional Strategy






15. They are often based on industry best practice.






16. They are used to condense and summarize large quantities of data for quick understanding.






17. Risk associated with macro-economic forces.






18. A corporation that owns a large number of businesses that are different sizes and operate in different industry sectors.






19. Quality of information and interpretation of it






20. 1. information systems 2. logistics 3. HR






21. 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.






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






23. 1 Vision and mission 2 Value Statement






24. primary activities and support activities






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






26. Specific - Measurable - Attainable - Realistic - Timely






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






28. 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.






29. 1 Introduction 2 Growth 3 Maturity 4 Decline






30. The central focus of the department is the provision of goods and services to the customer. Basically this department must ensure that the product/service is produced and delivered to the customer.






31. 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.






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






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






34. Often accompanied by backlogs and scheduling problems while the organization adjusts to increase demands. Policies - procedures and rules should begin to be formalized as organization needs increased structure during this phase to operate effectively






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






36. Comparing operations in totally unrelated industries






37. 1 SWOT analysis and environmental scanning 2 Long term objectives 3 Strategies to achieve these objectives are defined






38. 1 Strategies are reviewed 2 Performance towards objective is measured 3 Corrective action is taken






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






40. 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






41. 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.






42. 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.






43. 1 Work Specialization 2 Departmentalization 3 Chain of Command 4 Centralization and Decentralization 5 Formalization






44. 1 Experiments 2 Pilot Projects 3 Surveys/questionnaires 4 Interviews (exit - panel - individual) 5 Focus group 6 Direct observation 7 Testing






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






46. 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






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






48. 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?






49. 1. talking to competitors - customers - and distributors 2. testing competitors products 3. view competitors exhibits at trade shows






50. The organization of a set of businesses that share identical or very similar strategies or strategic challenges.







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