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. 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






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






3. Risk associated with macro-economic forces.






4. The benefits that develop through the extension and application of corporate resources to a newly acquired company.






5. 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)






6. 1 Cost Benefit Analysis 2 Return On Investment 3 Breakeven Analysis 4 Financial Statement Analysis






7. 1 Vision and mission 2 Value Statement






8. Economic - legal resp. - ethical - and discretionary






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






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






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






12. 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






13. 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






14. primary activities and support activities






15. Individuals or groups who depend on an organization to fulfill their own goals and on whom - in turn the organization depends.






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






17. A strategy by which an organisation offers existing products to new markets.






18. 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






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






20. It is a systematic process of gathering and analyzing all relevant data about external opportunities (emerging marketplace - additional capabilities provided through new technology.) and threats (emerging competition - shifts in marketplaces. )






21. 1 Preparation 2 Due Diligence 3 Planning integration of the business entities 4 Implementation - monitoring and measurement






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






23. Risk associated with a particular business.






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






25. The skills and abilities by which resources are deployed through an organization's activities and processes such as to achieve competitive advantage in ways that others cannot imitate or obtain.






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






27. 1 Introduction 2 Growth 3 Maturity 4 Decline






28. 1 Financial 2 Human 3 Physical 4 Technological






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






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






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






32. 1 Global Economy 2 Wage comparison 3 Trade Agreement 4 International Labor Law






33. 1 Balance Scorecard






34. Comparing 1 operation in the firm with another






35. 1 Interest Rates 2 Gross Domestic Product (GDP) 3 Consumer Price Index (CPI) 4 Disposable Income 5 Inflation






36. 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






37. 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






38. 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






39. It describes what is important to an organization and often dictate employee behavior. They are the heart of the culture of an organization.






40. 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.






41. 1 Strategies are reviewed 2 Performance towards objective is measured 3 Corrective action is taken






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






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






44. 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.






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






46. When a corporation is able to combine similar primary value chain activities.






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






48. Information systems with a charter to achieve competitive superiority.






49. 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.






50. 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.