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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. A process and goal: the process: choices regarding acquiring and using scared resources: the goal: maintain and achieving a unique and valuable position in the international market






2. Views the world as its unit of analysis - Plants are built to provide local marketing advantages - recognizes the importance of being flexible at the country-level operations - more responsive to local needs






3. 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






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






5. 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.






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






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






8. 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






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






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






11. 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.






12. 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






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






14. 1 Attitudes towards career 2 Immigration 3 Occupational and industry skills 4 Recruitment 5 Unions 6 Unemployment 7 Turnover 8 Relocation






15. 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






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






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






18. 1 Financial 2 Human 3 Physical 4 Technological






19. Sell more in existing markets - or enter new markets






20. 1 Short term objective 2 Action plan to achieve these objective 3 Allocating resources 4 Motivating employees to manage the plan.






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






22. 1 Age 2 Gender 3 Generational Difference 4 Geographic shifts in population 5 Ethnicity 6 Unskilled Labor 7 Non traditional labor force






23. 1 Statement of the problem 2 Objectives 3 Description of potential solution 4 Project Time line 5 Project Metrics.






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






25. 1 Introduction 2 Growth 3 Maturity 4 Decline






26. 1 Global Economy 2 Wage comparison 3 Trade Agreement 4 International Labor Law






27. 1 Vision and mission 2 Value Statement






28. 1 Strategy Formulation 2 Strategy Development 3 Strategy Implementation 4 Strategy Evaluation






29. Is concerned with the structures and systems of control by which managers are held accountable to those who have a legitimate stake an organization.






30. 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.






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






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






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






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






35. 1 Traditional Generation 2 Baby Boom Generation 3 Generation X 4 Generation Y






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






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






38. 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






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






40. A method of planning in which corporate hq develops and provides guidelines - disadvantages: the method of planning restricts initiative at lower level - shows insensitivity to local conditions - advantages: headquarters formulates a plan; this ensur






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






42. 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






43. 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.






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






45. 1 Charts and graphs 2 Measures of central tendency 3 Measures of variation 4 Measures of association






46. 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)






47. 1 The rule is proposed 2 Public comment is invited 3 The final rule is issued






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






49. 1 SWOT analysis and environmental scanning 2 Long term objectives 3 Strategies to achieve these objectives are defined






50. 1 Balance Scorecard







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