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. They are used to condense and summarize large quantities of data for quick understanding.






2. 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?






3. 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






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






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






6. Ability to broaden a product line or a customer base achieved through an acquisition.






7. 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"






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






9. 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






10. It can be defined as principles of conduct within an organization that guide decision making and behavior.






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






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






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






14. 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






15. 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






16. Acquisition of another company upstream (supplier) or downstream (buyer) in the value chain of the same industry in which the corporation operates.






17. 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






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






19. To achieve cost advantage - an organization has to be the low cost producer in its industry.The finished products of low cost producers are sold at prices that beat the competition. These industries depend on volume to provide profit and is less bra






20. 1 Traditional Generation 2 Baby Boom Generation 3 Generation X 4 Generation Y






21. Comparing a the firms operations with a direct competitor






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






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






24. They represent milestones that must be achieved in order to reach the long term objectives. They are usually within 6 months to a year.






25. 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.






26. 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






27. 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.






28. Is part of an organization for which there is a distinct external market for goods or services that is different from another SBU






29. 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






30. 1 Charts and graphs 2 Measures of central tendency 3 Measures of variation 4 Measures of association






31. 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)






32. A strategy by which an organization takes increased share of its existing markets with its existing product range.






33. 1 Preparation 2 Due Diligence 3 Planning integration of the business entities 4 Implementation - monitoring and measurement






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






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






36. 1 Attitudes towards career 2 Immigration 3 Occupational and industry skills 4 Recruitment 5 Unions 6 Unemployment 7 Turnover 8 Relocation






37. 1 Short term objective 2 Action plan to achieve these objective 3 Allocating resources 4 Motivating employees to manage the plan.






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






39. 1 Strategies are reviewed 2 Performance towards objective is measured 3 Corrective action is taken






40. 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.






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






42. 1 Demographic Factors 2 Economic Factors 3 Employment Factors 4 International Factors 5 Political Factors 6 Social Factors 7 Technological Factors






43. Quality of information and interpretation of it






44. Adhering to set of governing principles whether the philosophy is one of fairness - individual rights - avoiding conflicts of interest or another philosophical grounding.






45. 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






46. Comparing operations in totally unrelated industries






47. 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






48. 1 The rule is proposed 2 Public comment is invited 3 The final rule is issued






49. Processes and activities used to formulate HR objectives - practices - and policies.






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