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. These are the detailed steps a unit - department - or team will take in order to achieve the short term objectives.






2. Comparing similar functional firms in your industry






3. 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






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






5. 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






6. 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.






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






8. 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






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






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






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






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






13. 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"






14. 1 Vision and mission 2 Value Statement






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






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






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






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






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






20. 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






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






22. 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.






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






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






25. Comparing a the firms operations with a direct competitor






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






27. A value creating strategy that creates more perceived value by primarily reducing costs






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






29. 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.






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






31. 1. multinational 2. global 3. transnational






32. 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






33. 1 Advances in technology 2 Technological skills 3 The digital divide 4 Process changes






34. 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






35. 1 The rule is proposed 2 Public comment is invited 3 The final rule is issued






36. 1 Traditional Generation 2 Baby Boom Generation 3 Generation X 4 Generation Y






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






38. 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.






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






40. 1 Global Economy 2 Wage comparison 3 Trade Agreement 4 International Labor Law






41. 1 Cost Benefit Analysis 2 Return On Investment 3 Breakeven Analysis 4 Financial Statement Analysis






42. 1 SWOT analysis and environmental scanning 2 Long term objectives 3 Strategies to achieve these objectives are defined






43. Comparing 1 operation in the firm with another






44. 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






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






46. 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.






47. 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.






48. 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






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






50. 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?