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. 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






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






3. Combine both qualitative and quantitative measures - acknowledge the expectations of different stakeholders and relate an assessment of performance to choice of strategy.






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






5. 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






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






7. 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






8. 1 Charts and graphs 2 Measures of central tendency 3 Measures of variation 4 Measures of association






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






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






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






12. Is concerned with the structures and systems of control by which managers are held accountable to those who have a legitimate stake an organization.






13. 1 Traditional Generation 2 Baby Boom Generation 3 Generation X 4 Generation Y






14. 1 Balance Scorecard






15. 1. improve bidding success 2. identify competitors key customers 3. identify expansion plans 4. improve understanding of competitors






16. Specific - Measurable - Attainable - Realistic - Timely






17. 1 Financial 2 Human 3 Physical 4 Technological






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






19. A participative approach to planning in which there is involvement at all levels; plans are developed at the lower levels of an organisation and funnelled up through consecutive levels until they reach top management - advantage:People are responsibl






20. The resources and competences of an organization needed for it to survive and prosper.






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






22. 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.






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






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






25. Value - Exploit - Rare - Imitate - Substitute






26. 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.






27. 1 Planning 2 Organizing 3 Directing 4 Controlling






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






29. 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






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






31. 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






32. 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.






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






34. 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.






35. 1 Vision and mission 2 Value Statement






36. 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. )






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






38. Information systems with a charter to achieve competitive superiority.






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






40. 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






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






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






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






44. 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.






45. 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?






46. 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.






47. The political - economic - social - technological - environmental - and legal dimensions of an organization's external environment.






48. Acquisition of a company in a different industry - but which employs a similar value chain.






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






50. Ability to broaden a product line or a customer base achieved through an acquisition.