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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. 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






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






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






4. 1 Preparation 2 Due Diligence 3 Planning integration of the business entities 4 Implementation - monitoring and measurement






5. These objectives are generally achieved within 3 to 5 years. Establishing these objectives provides direction - synergy and aids in establishing guidelines for evaluation.






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






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






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






9. Is part of an organization for which there is a distinct external market for goods or services that is different from another SBU






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






11. 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






12. 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.






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






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






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






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






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






18. 1 Cost Leadership 2 Differentiation 3 Focus






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






20. 1 Introduction 2 Growth 3 Maturity 4 Decline






21. 1 The rule is proposed 2 Public comment is invited 3 The final rule is issued






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






23. 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)






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






25. 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.






26. 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






27. 1 Organizational Strategy 2 Business unit strategy 3 Functional Strategy






28. 1 Financial 2 Human 3 Physical 4 Technological






29. Serve the purpose similar to short term objectives but are completed in 1 to 3 years.






30. Combine both qualitative and quantitative measures - acknowledge the expectations of different stakeholders and relate an assessment of performance to choice of strategy.






31. Comparing similar functional firms in your industry






32. 1 Global Economy 2 Wage comparison 3 Trade Agreement 4 International Labor Law






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






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






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






36. 1 Statement of the problem 2 Objectives 3 Description of potential solution 4 Project Time line 5 Project Metrics.






37. Is the means by which a strategy can be pursued.






38. 1 Age 2 Gender 3 Generational Difference 4 Geographic shifts in population 5 Ethnicity 6 Unskilled Labor 7 Non traditional labor force






39. 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






40. 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.






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






42. 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.






43. 1 Experiments 2 Pilot Projects 3 Surveys/questionnaires 4 Interviews (exit - panel - individual) 5 Focus group 6 Direct observation 7 Testing






44. 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"






45. Organization become entrenched in rules and policies and leadership become resistant to change. series of efforts to turn the tide such as product enhancement or cost reduction programs. If unsuccessful in these then will focus on reducing workforce






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






47. 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






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






49. 1 Cost Benefit Analysis 2 Return On Investment 3 Breakeven Analysis 4 Financial Statement Analysis






50. 1. multinational 2. global 3. transnational







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