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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 Capacity 2 Standards 3 Scheduling 4 Inventory 5 Control






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






3. 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.






4. 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






5. 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






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






7. 1 Preparation 2 Due Diligence 3 Planning integration of the business entities 4 Implementation - monitoring and measurement






8. Where an individual (such as a corporate officer) acts on behalf of someone else (such as a shareholder)






9. The types of decisions made and direction created for a single business






10. Comparing operations in totally unrelated industries






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






12. 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.






13. 1 Introduction 2 Growth 3 Maturity 4 Decline






14. Identifies stakeholder expectations and power and helps in understanding political priorities.






15. 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






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






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






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






19. 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






20. 1 Interest Rates 2 Gross Domestic Product (GDP) 3 Consumer Price Index (CPI) 4 Disposable Income 5 Inflation






21. 1 Short term objective 2 Action plan to achieve these objective 3 Allocating resources 4 Motivating employees to manage the plan.






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






23. 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.






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






25. Ensure that organization's strategy and operations are consistent with each other






26. Risk associated with a particular business.






27. 1 Attitudes towards career 2 Immigration 3 Occupational and industry skills 4 Recruitment 5 Unions 6 Unemployment 7 Turnover 8 Relocation






28. 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"






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






30. 1 Cost Leadership 2 Differentiation 3 Focus






31. 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.






32. 1 The rule is proposed 2 Public comment is invited 3 The final rule is issued






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






34. 1 Balance Scorecard






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






36. 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






37. Comparing 1 operation in the firm with another






38. 1 Financial 2 Human 3 Physical 4 Technological






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






40. 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.






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






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






43. 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.






44. 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.






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






46. 1 Age 2 Gender 3 Generational Difference 4 Geographic shifts in population 5 Ethnicity 6 Unskilled Labor 7 Non traditional labor force






47. 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






48. It is a system of moral principles and values that establish appropriate conduct.






49. 1 Planning 2 Organizing 3 Directing 4 Controlling






50. 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.