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Business Strategy
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Subject
:
business-skills
Instructions:
Answer 50 questions in 15 minutes.
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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 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
Strategy Implementation
Strategy Evaluation
Vertical diversification
top-down
2. 1 Experiments 2 Pilot Projects 3 Surveys/questionnaires 4 Interviews (exit - panel - individual) 5 Focus group 6 Direct observation 7 Testing
Decline
SMART Goals
Primary Research
Ethical Behavior
3. 1. improve bidding success 2. identify competitors key customers 3. identify expansion plans 4. improve understanding of competitors
benefits of competitor intelligence
Agency
Strategic Planning
Marketing Mix
4. 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.
Corporate governance
Blue ocean Strategy
Business Case
skills businesses need to create competitive advantage
5. A corporation that owns a large number of businesses that are different sizes and operate in different industry sectors.
Agency
Operational fit
Conglomerate
Stakeholders
6. Business remain separate entities but may appear to outsiders as one entity. Commonly formed through the use of outsourcing.
Extended Organization
Strategic capability
Ethical Behavior
Focus
7. Cut costs - add value - or increase prices
Core Values
to increase profitability
Blue ocean Strategy
PESTEL
8. 1 Age 2 Gender 3 Generational Difference 4 Geographic shifts in population 5 Ethnicity 6 Unskilled Labor 7 Non traditional labor force
Demographic Factors
Off shoring
Takeover
Differentiation
9. 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)
Secondary Research
Resources
Code of Ethics
Strategic business unit
10. 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.
Ethics
Corporate strategy
Leveraged buyout (LBO)
Unrelated diversification
11. Comparing similar functional firms in your industry
Mission Statement
Vertical diversification
functional benchmarking
Employment Factors
12. These are the detailed steps a unit - department - or team will take in order to achieve the short term objectives.
Ethics
to obtain profit growth
Action Plan
Parts of Business Case
13. 1 Demographic Factors 2 Economic Factors 3 Employment Factors 4 International Factors 5 Political Factors 6 Social Factors 7 Technological Factors
Focus
SWOT Analysis
SMART Goals
Factors that affect external environment
14. Acquisition of a company that operates in the same industry using the same value chain.
Differentiation
Horizontal diversification
Downscoping
Long term Objectives
15. Adhering to set of governing principles whether the philosophy is one of fairness - individual rights - avoiding conflicts of interest or another philosophical grounding.
Ethical Behavior
low-cost strategy
Related diversification
to maximize profits
16. 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
Resources leverage
Strategic Planning Phase
Junk bond
mentality of MNC
17. 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
Strategic method
Introduction
top-down
Environmental scanning
18. The categories of activities within and around an organization which together create a product or service.
to obtain profit growth
HR functions that can be outsourced
Value chain
Factors that affect external environment
19. 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.
Outsourcing
benefits of competitor intelligence
Resources leverage
Descriptive Statistic
20. 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.
international strategy
Core competences
Downscoping
Cross-sector diversification
21. 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
internal benchmarking
to obtain profit growth
Leveraged buyout (LBO)
Five Forces
22. 1 Global Economy 2 Wage comparison 3 Trade Agreement 4 International Labor Law
Outsourcing
International Factors
top-down
Critical success factors
23. A strategy by which an organisation offers existing products to new markets.
support activities of a business
Market development
Directing
external benchmarking
24. 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.
Strategic business unit
Strategic Groups
Organization Structure
Off shoring
25. It can be defined as principles of conduct within an organization that guide decision making and behavior.
Demographic Factors
to maximize profits
Code of Ethics
types of competitive strategies for international businesses
26. A process where a company is bought primarily using debt. Typically engineered by management of the company - or by private equity firms.
Core competences
Scope
Corporate governance
Leveraged buyout (LBO)
27. Ensuring that everything is carried out according to the plan. Eg: Measuring recruiting efforts and effectiveness.
Quantitative Analysis
Stakeholder mapping
Internal Benchmarks
Controlling
28. These strategies attempt to set the product or service apart form its competition by giving it unique characteristic that customers value and for which they will be willing to pay a premium price.
Demographic Factors
Differentiation
Scenarios
Value chain
29. 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.
Vertical diversification
External Benchmarks
Takeover
common practices when analyzing your competition
30. It is based on numeric data that is analyzed with statistic method. 1 Descriptive Statistic 2 Inferential Statistic
Descriptive Statistic
Scope
Quantitative Analysis
Market development
31. Combine both qualitative and quantitative measures - acknowledge the expectations of different stakeholders and relate an assessment of performance to choice of strategy.
Methodologies Of Operations
Value network
PESTEL
Balanced scorecards
32. Where an individual (such as a corporate officer) acts on behalf of someone else (such as a shareholder)
Short term Objectives
Agency
to increase profitability
Decline
33. The political - economic - social - technological - environmental - and legal dimensions of an organization's external environment.
Directing
SWOT Analysis
Operations
PESTEL
34. 1 Balance Scorecard
Inferential Statistic
Business Case
Performance Measures
Downscoping
35. Comparing 1 operation in the firm with another
Extended Organization
Introduction
Takeover
internal benchmarking
36. Cost savings accomplished by operating combined companies more efficiently.
Economizing
Decline
Value Statement
Resources leverage
37. Risk associated with macro-economic forces.
Off shoring
Strategic business unit
Scope
Systematic risk
38. 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
To achieve competitive advantage and superior profitability
international strategy
Porters Competitive Strategies
Economic Factors
39. Organizations within an industry with similar strategic characteristics - following similar strategies or competing on similar bases
types of competitive strategies for international businesses
SPAC
Strategic Groups
Factors that affect external environment
40. 1 Short term objective 2 Action plan to achieve these objective 3 Allocating resources 4 Motivating employees to manage the plan.
Factors that affect external environment
External Benchmarks
Strategy Implementation
Junk bond
41. The benefits that develop through the extension and application of corporate resources to a newly acquired company.
Related diversification
The law making Process
Resources leverage
Maturity
42. Studying the future and arranging the means for dealing with it - which encompass forecasting - selling goals - and determining actions. eg: Forecasting future staffing needs.
Vision Statement
SMART Goals
Operational fit
Planning
43. 1 Planning 2 Organizing 3 Directing 4 Controlling
PESTEL
mentality of MNC
Management Functions
Strategic business unit (SBU)
44. 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)
Strategic Groups
efficiency frontier
to maximize profits
Strategic method
45. 1 SWOT analysis and environmental scanning 2 Long term objectives 3 Strategies to achieve these objectives are defined
bottom-up
Private equity firm
Parts of Business Case
Strategy Development
46. A value creating strategy that creates more perceived value by primarily reducing costs
Private equity firm
Organization Structure
Organizing
low-cost strategy
47. The resources and competences of an organization needed for it to survive and prosper.
Strategic capability
Demographic Factors
Horizontal diversification
Value chain
48. Engaging in those activities that ensure effective operation - including leadership and motivation pf employee action towards goals. eg : Scheduling and conducting interview.
External Benchmarks
Maturity
Directing
Leveraged buyout (LBO)
49. Is the set of internationalization links and relationships that are necessary to create a product or service.
Value network
Conglomerate
mentality of a MNC manager
Operations
50. 1 Cost Leadership 2 Differentiation 3 Focus
Cost Leadership
Porters Competitive Strategies
Management Functions
Leveraged buyout (LBO)
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