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. 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"






2. When a corporation reduces its level of diversification and strategically refocuses on core businesses where the synergies of scope - economizing - and leverage are more evident and more easily realized.






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






4. 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






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






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






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






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






9. Refers to an intensive investigation of all factors surrounding a business decision to ensure that all risks are understood.






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






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






12. 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






13. 1 Financial 2 Human 3 Physical 4 Technological






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






15. 1. a graph demonstrating the different positions a firm can adopt in creating value 2. compares value and differentiation (Y) versus high cost to low cost (x)






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






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






18. They are often based on industry best practice.






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






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






21. A strategy by which an organization peruses new product offerings and new markets.






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






23. 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






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






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






26. primary activities and support activities






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






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






29. 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.






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






31. 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






32. Individuals or groups who depend on an organization to fulfill their own goals and on whom - in turn the organization depends.






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






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






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






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






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






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






39. Organization that follow this approach are not competing in an established market. They see themselves as a creating entirely new value. This strategy values innovation - creativity and rule breaking.






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






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






42. 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.






43. 1 Strategies are reviewed 2 Performance towards objective is measured 3 Corrective action is taken






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






45. Private (nonpublic) corporations or partnerships that use their financial resources to engineer buyouts and acquisitions of other companies.






46. 1 The rule is proposed 2 Public comment is invited 3 The final rule is issued






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






48. Cut costs - add value - or increase prices






49. 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.






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