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. 1. multinational 2. global 3. transnational






2. Risk associated with a particular business.






3. 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






4. 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.






5. The organization relies on high energy and creativity. Attempts to develop products and services - decision may be made to use experiences staff so training is not an integral part of this phase. may meet or exceed the standard pay range to recruit






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






7. The underlying principles that guide an organization's strategy






8. 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)






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






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






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






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






13. 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.






14. Comparing operations in totally unrelated industries






15. 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.






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






17. 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






18. 1 Statement of the problem 2 Objectives 3 Description of potential solution 4 Project Time line 5 Project Metrics.






19. primary activities and support activities






20. 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






21. 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.






22. 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.






23. Value - Exploit - Rare - Imitate - Substitute






24. 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.






25. 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






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






27. Quality of information and interpretation of it






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






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






31. 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.






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






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






34. 1 Demographic Factors 2 Economic Factors 3 Employment Factors 4 International Factors 5 Political Factors 6 Social Factors 7 Technological Factors






35. 1 Global Economy 2 Wage comparison 3 Trade Agreement 4 International Labor Law






36. Comparing a the firms operations with a direct competitor






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






38. 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.






39. 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?






40. 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. )






41. 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






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






43. The choices made through the 4 Ps : Product - Price - Place and Promotion are what makes a product or service unique. This is distinctive blend of marketing decision.






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






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






47. It can be defined as principles of conduct within an organization that guide decision making and behavior.






48. 1 Cost Benefit Analysis 2 Return On Investment 3 Breakeven Analysis 4 Financial Statement Analysis






49. Cut costs - add value - or increase prices






50. 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