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






2. 1 Short term objective 2 Action plan to achieve these objective 3 Allocating resources 4 Motivating employees to manage the plan.






3. 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.






4. 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?






5. 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






6. When a corporation can take synergistic advantage of relationships with suppliers and/or customers in making an acquisition.






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






8. 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






9. 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






10. Specific - Measurable - Attainable - Realistic - Timely






11. 1 Statement of the problem 2 Objectives 3 Description of potential solution 4 Project Time line 5 Project Metrics.






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






13. 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.






14. 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.






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






16. 1 Traditional Generation 2 Baby Boom Generation 3 Generation X 4 Generation Y






17. 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






18. 1 Charts and graphs 2 Measures of central tendency 3 Measures of variation 4 Measures of association






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






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. 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






22. Studying the future and arranging the means for dealing with it - which encompass forecasting - selling goals - and determining actions. eg: Forecasting future staffing needs.






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






24. 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






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






26. 1 Preparation 2 Due Diligence 3 Planning integration of the business entities 4 Implementation - monitoring and measurement






27. Comparing 1 operation in the firm with another






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






29. Risk associated with macro-economic forces.






30. Economic - legal resp. - ethical - and discretionary






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






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






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






34. 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. )






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






36. 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.






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






38. 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)






39. It uses data already gathered by others and reported in various sources.






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






41. A tool to help you think about the wider issues that have an impact on the industry or service area as a whole - taking five main categories into account: Socio-cultural - Technological - Economic - Environmental - Political






42. 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






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






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






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






46. 1 Advances in technology 2 Technological skills 3 The digital divide 4 Process changes






47. Risk associated with a particular business.






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






49. 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.






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