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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. They are often based on industry best practice.






2. 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






3. 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.






4. 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






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






6. 1 Interest Rates 2 Gross Domestic Product (GDP) 3 Consumer Price Index (CPI) 4 Disposable Income 5 Inflation






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






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






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






10. 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)






11. 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.






12. 1 Age 2 Gender 3 Generational Difference 4 Geographic shifts in population 5 Ethnicity 6 Unskilled Labor 7 Non traditional labor force






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






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






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






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






18. It is a systematic process of gathering and analyzing all relevant data about external opportunities (emerging marketplace - additional capabilities provided through new technology.) and threats (emerging competition - shifts in marketplaces. )






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






20. A merger or acquisition where there is some similarity of industry and/or value chain between the corporation and the company it seeks to acquire.






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






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






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






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






25. 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






26. Quality of information and interpretation of it






27. 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






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






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






30. 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.






31. Divestiture in which a corporation creates a new company out of one of its businesses. The new company has its own shares of stock and shareholders - and its own board of directors. Typically - shareholders of the corporation will receive newly iss






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






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






34. 1 Charts and graphs 2 Measures of central tendency 3 Measures of variation 4 Measures of association






35. Comparing operations in totally unrelated industries






36. 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)






37. 1 Cost Benefit Analysis 2 Return On Investment 3 Breakeven Analysis 4 Financial Statement Analysis






38. 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.






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






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






41. 1 Organizational Strategy 2 Business unit strategy 3 Functional Strategy






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






43. Value - Exploit - Rare - Imitate - Substitute






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






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






46. 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






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






48. 1 Financial 2 Human 3 Physical 4 Technological






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






50. 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







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Can you answer 50 questions in 15 minutes?


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