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. The benefits that develop through the extension and application of corporate resources to a newly acquired company.






2. 1. multinational 2. global 3. transnational






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






4. 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






5. 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






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






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






8. Quality of information and interpretation of it






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






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






11. 1 Statement of the problem 2 Objectives 3 Description of potential solution 4 Project Time line 5 Project Metrics.






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






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






14. 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






15. 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






16. Views the world as its unit of analysis - Plants are built to provide local marketing advantages - recognizes the importance of being flexible at the country-level operations - more responsive to local needs






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






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






19. 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?






20. 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.






21. 1 Advances in technology 2 Technological skills 3 The digital divide 4 Process changes






22. A strategy by which an organization takes increased share of its existing markets with its existing product range.






23. 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.






24. 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)






25. 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.






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






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






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






29. 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.






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






31. Describes the structure of product - service - and information flows and the role of participating parties.






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






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






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






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






36. Risk associated with a particular business.






37. It refers to relocation of processes or functions from a home country to another country and it appeals to organization for cost saving.






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






39. 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






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






41. 1 Work Specialization 2 Departmentalization 3 Chain of Command 4 Centralization and Decentralization 5 Formalization






42. 1 Experiments 2 Pilot Projects 3 Surveys/questionnaires 4 Interviews (exit - panel - individual) 5 Focus group 6 Direct observation 7 Testing






43. 1 Traditional Generation 2 Baby Boom Generation 3 Generation X 4 Generation Y






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






45. 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






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






47. Those product features with which a organization must outperform the competition because they are particularly valued by a group of customers.






48. 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






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






50. 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