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






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






3. 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






4. 1 SWOT analysis and environmental scanning 2 Long term objectives 3 Strategies to achieve these objectives are defined






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






6. 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






7. 1 Cost Benefit Analysis 2 Return On Investment 3 Breakeven Analysis 4 Financial Statement Analysis






8. 1 Balance Scorecard






9. 1 Financial 2 Human 3 Physical 4 Technological






10. 1 Population 2 Sample 3 Normal Distribution






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






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






13. 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






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






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






16. 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.






17. Risk associated with a particular business.






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






19. 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.






20. 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)






21. Identifies stakeholder expectations and power and helps in understanding political priorities.






22. 1 Cost Leadership 2 Differentiation 3 Focus






23. Value - Exploit - Rare - Imitate - Substitute






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






25. 1. multinational 2. global 3. transnational






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






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






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






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






30. 1 The rule is proposed 2 Public comment is invited 3 The final rule is issued






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






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






33. They represent milestones that must be achieved in order to reach the long term objectives. They are usually within 6 months to a year.






34. 1 Attitudes towards career 2 Immigration 3 Occupational and industry skills 4 Recruitment 5 Unions 6 Unemployment 7 Turnover 8 Relocation






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






36. 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






37. 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






38. 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






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






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






41. The categories of activities within and around an organization which together create a product or service.






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






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






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






45. 1 Work Specialization 2 Departmentalization 3 Chain of Command 4 Centralization and Decentralization 5 Formalization






46. 1 Traditional Generation 2 Baby Boom Generation 3 Generation X 4 Generation Y






47. 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






48. 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






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






50. 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.







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