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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 Introduction 2 Growth 3 Maturity 4 Decline






2. 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.






3. Comparing operations in totally unrelated industries






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






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






6. 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"






7. 1 Cost Leadership 2 Differentiation 3 Focus






8. 1 Financial 2 Human 3 Physical 4 Technological






9. Cut costs - add value - or increase prices






10. It is a vivid - guiding image of the organization's desired future. It is the ultimate picture of what leadership envisions for the organization.






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






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






13. 1 Work Specialization 2 Departmentalization 3 Chain of Command 4 Centralization and Decentralization 5 Formalization






14. 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)






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






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






17. 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.






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






19. 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.






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.






21. 1 Population 2 Sample 3 Normal Distribution






22. 1 SWOT analysis and environmental scanning 2 Long term objectives 3 Strategies to achieve these objectives are defined






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






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






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






26. 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.






27. Value - Exploit - Rare - Imitate - Substitute






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






29. 1 Preparation 2 Due Diligence 3 Planning integration of the business entities 4 Implementation - monitoring and measurement






30. 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






31. 1 Balance Scorecard






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






33. 1 Capacity 2 Standards 3 Scheduling 4 Inventory 5 Control






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






35. 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






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. 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.






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






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






40. 1 Charts and graphs 2 Measures of central tendency 3 Measures of variation 4 Measures of association






41. 1 Interest Rates 2 Gross Domestic Product (GDP) 3 Consumer Price Index (CPI) 4 Disposable Income 5 Inflation






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






43. Comparing 1 operation in the firm with another






44. 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






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






46. 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






47. 1. R&D 2. production 3. marketing and sales 4. customer service






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






49. A company in which 70-95% of revenue comes from a single business






50. 1 Advances in technology 2 Technological skills 3 The digital divide 4 Process changes







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