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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. 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






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






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






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






5. 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"






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






7. 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.






8. 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






9. Ensure that organization's strategy and operations are consistent with each other






10. primary activities and support activities






11. 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.






12. Cost savings accomplished by operating combined companies more efficiently.






13. Designing a structure to assist in goal accomplishment that effectively relates human and nonhuman resources to the tasks of enterprise.Eg : Designing an interview process.






14. 1 Work Specialization 2 Departmentalization 3 Chain of Command 4 Centralization and Decentralization 5 Formalization






15. 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.






16. 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.






17. 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






18. 1 Experiments 2 Pilot Projects 3 Surveys/questionnaires 4 Interviews (exit - panel - individual) 5 Focus group 6 Direct observation 7 Testing






19. 1 Financial 2 Human 3 Physical 4 Technological






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






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






22. Internal Benchmarks establish levels of current performance of a particular tasks - such as cost per hire.






23. 1 Age 2 Gender 3 Generational Difference 4 Geographic shifts in population 5 Ethnicity 6 Unskilled Labor 7 Non traditional labor force






24. 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






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






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






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






28. 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.






29. Where an individual (such as a corporate officer) acts on behalf of someone else (such as a shareholder)






30. 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.






31. Cut costs - add value - or increase prices






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






33. 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.






34. 1 Strategy Formulation 2 Strategy Development 3 Strategy Implementation 4 Strategy Evaluation






35. 1 Interest Rates 2 Gross Domestic Product (GDP) 3 Consumer Price Index (CPI) 4 Disposable Income 5 Inflation






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






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






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






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






40. 1 Organizational Strategy 2 Business unit strategy 3 Functional Strategy






41. 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






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






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






44. 1 SWOT analysis and environmental scanning 2 Long term objectives 3 Strategies to achieve these objectives are defined






45. 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






46. Processes and activities used to formulate HR objectives - practices - and policies.






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






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






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






50. 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







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