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






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






3. They are often based on industry best practice.






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






5. 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






6. 1 Strategies are reviewed 2 Performance towards objective is measured 3 Corrective action is taken






7. Comparing a the firms operations with a direct competitor






8. 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.






9. These objectives are generally achieved within 3 to 5 years. Establishing these objectives provides direction - synergy and aids in establishing guidelines for evaluation.






10. 1 SWOT analysis and environmental scanning 2 Long term objectives 3 Strategies to achieve these objectives are defined






11. 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






12. Comparing similar functional firms in your industry






13. 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






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






15. 1 Planning 2 Organizing 3 Directing 4 Controlling






16. 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






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






18. Risk associated with macro-economic forces.






19. 1 Age 2 Gender 3 Generational Difference 4 Geographic shifts in population 5 Ethnicity 6 Unskilled Labor 7 Non traditional labor force






20. 1 Advances in technology 2 Technological skills 3 The digital divide 4 Process changes






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






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






23. 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






24. 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






25. 1. multinational 2. global 3. transnational






26. Value - Exploit - Rare - Imitate - Substitute






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






28. 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






29. 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)






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






31. Comparing operations in totally unrelated industries






32. Organizations within an industry with similar strategic characteristics - following similar strategies or competing on similar bases






33. It describes an organizational challenge and possible alternative solutions - presenting evidence in support of a proposed solution. They are effective way to compete for limited resources.






34. 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.






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






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






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






38. 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"






39. 1 Population 2 Sample 3 Normal Distribution






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






41. 1 Capacity 2 Standards 3 Scheduling 4 Inventory 5 Control






42. 1 The rule is proposed 2 Public comment is invited 3 The final rule is issued






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






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






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






47. 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






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






49. 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.






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