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Test your basic knowledge |
Business Strategy
Start Test
Study First
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. 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"
Downscoping
Outsourcing
Strategy Implementation
CLO
2. 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.
Downscoping
top-down
Mid term Objectives
To achieve competitive advantage and superior profitability
3. 1 Age 2 Gender 3 Generational Difference 4 Geographic shifts in population 5 Ethnicity 6 Unskilled Labor 7 Non traditional labor force
Primary Research
External Benchmarks
Demographic Factors
Strategic Planning Phase
4. 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
low-cost strategy
Growth
bottom-up
Strategic Planning
5. The political - economic - social - technological - environmental - and legal dimensions of an organization's external environment.
Long term Objectives
PESTEL
key to success in strategic planning
Spin-off
6. 1. improve bidding success 2. identify competitors key customers 3. identify expansion plans 4. improve understanding of competitors
Directing
benefits of competitor intelligence
Strategic Planning Phase
Strategic Groups
7. They are used to condense and summarize large quantities of data for quick understanding.
Core Values
Corporate strategy
Descriptive Statistic
Directing
8. A strategy by which an organisation offers existing products to new markets.
Organization Structure
Market development
Corporate social responsibility
to maximize profits
9. Refers to an intensive investigation of all factors surrounding a business decision to ensure that all risks are understood.
Cross-sector diversification
Core competences
Due Diligence
Takeover
10. Special Purpose Acquisition Company. Empty-shell firms that promise to buy businesses with the proceeds of their initial public stock offerings.
Downscoping
Long term Objectives
SPAC
Strategy Development
11. The organization of a set of businesses that share identical or very similar strategies or strategic challenges.
Critical success factors
Secondary Research
Strategic business unit (SBU)
Strategic Planning
12. 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
Generational Difference
Internal Benchmarks
Related diversification
Growth
13. 1 Financial 2 Human 3 Physical 4 Technological
Employment Factors
Unrelated diversification
Extended Organization
Resources
14. A company in which 70-95% of revenue comes from a single business
Business strategy
low-cost strategy
Technological Factors
Dominant business
15. 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)
efficiency frontier
Technological Factors
To achieve competitive advantage and superior profitability
STEEP
16. Not necessarily considered HR core function like benefits plan administration - payroll administration - and background checks - etc.
Methodologies Of Operations
Inferential Statistic
External Benchmarks
HR functions that can be outsourced
17. Acquisition of a company that operates in the same industry using the same value chain.
Horizontal diversification
Differentiation
Balanced scorecards
Strategic capability
18. They are often based on industry best practice.
Extended Organization
types of competitive strategies for international businesses
External Benchmarks
Ethical Behavior
19. Acquisition of a company in a different industry - but which employs a similar value chain.
To achieve competitive advantage and superior profitability
Critical success factors
Differentiation
Cross-sector diversification
20. Is the set of internationalization links and relationships that are necessary to create a product or service.
Market development
Value network
Ethics
Employment Factors
21. A strategy by which an organization peruses new product offerings and new markets.
top-down
Internal Benchmarks
To achieve competitive advantage and superior profitability
Diversification
22. Ability to broaden a product line or a customer base achieved through an acquisition.
Organizing
Scope
Strategies at three levels
Introduction
23. 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
Cost Leadership
Cultural web
Environmental scanning
Value chain
24. Those product features with which a organization must outperform the competition because they are particularly valued by a group of customers.
Critical success factors
Factors that affect external environment
Focus
Quantitative Analysis
25. A process where a company is bought primarily using debt. Typically engineered by management of the company - or by private equity firms.
Quantitative Analysis
Leveraged buyout (LBO)
Introduction
Strategic capability
26. primary activities and support activities
Marketing Mix
Value chain
value creating operations in the value chain of operation
Cultural web
27. The decisions made and the direction provided for managing multiple business units under a single corporate umbrella.
Market development
HR functions that can be outsourced
Business Life Cycle Phases
Corporate strategy
28. A value creating strategy that primary increases perceived value by increasing attractiveness of product
Generational Difference
Strategic capability
differentiation
support activities of a business
29. 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.
SWOT Analysis
Outsourcing
Value chain
Emergent Strategy
30. Engaging in those activities that ensure effective operation - including leadership and motivation pf employee action towards goals. eg : Scheduling and conducting interview.
Marketing Mix
Directing
international strategy
Purpose of benchmarks
31. 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
Agency
Strategy Implementation
Emergent Strategy
Methodologies Of Operations
32. Individuals or groups who depend on an organization to fulfill their own goals and on whom - in turn the organization depends.
Action Plan
Stakeholders
Generational Difference
Employment Factors
33. It can be defined as principles of conduct within an organization that guide decision making and behavior.
Strategic capability
Five Forces
Junk bond
Code of Ethics
34. A corporation that owns a large number of businesses that are different sizes and operate in different industry sectors.
Conglomerate
Planning
HR functions that can be outsourced
Holding company
35. It involves data that is gathered firsthand for the specific evaluation being conduced.
Primary Research
Outsourcing
PESTEL
value creating operations in the value chain of operation
36. Independent & entrepreneurial - adopts a more flexible approach to their international operations - More sensitive & responsive to local environment
Environmental Scanning
PESTEL
Inferential Statistic
mentality of a MNC manager
37. 1. information systems 2. logistics 3. HR
support activities of a business
Primary Research
Strategic method
Value chain
38. When a corporation can take synergistic advantage of administrative and support activities of the value chain in making an acquisition.
differentiation
type of responsibilities of a business
Economic Factors
Management fit
39. 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.
Blue ocean Strategy
Corporate strategy
Strategic business management
skills businesses need to create competitive advantage
40. The types of decisions made and direction created for a single business
Business strategy
Marketing Mix
Methodologies Of Operations
Ethical Behavior
41. It is a vivid - guiding image of the organization's desired future. It is the ultimate picture of what leadership envisions for the organization.
Vision Statement
Agency
Value network
primary activities of a business
42. These strategy requires that organizations focus on a particular buyer group - segment of the product line or geographical market within an industry. It is build around serving particular target to the exclusion of others.
Outsourcing
Focus
Strategic method
common practices when analyzing your competition
43. 1 Strategies are reviewed 2 Performance towards objective is measured 3 Corrective action is taken
Parts of Business Case
Code of Ethics
Strategy Evaluation
Strategic Planning
44. It is based on numeric data that is analyzed with statistic method. 1 Descriptive Statistic 2 Inferential Statistic
Management Functions
Strategic capability
Quantitative Analysis
SWOT Analysis
45. Private (nonpublic) corporations or partnerships that use their financial resources to engineer buyouts and acquisitions of other companies.
Strategies at three levels
Cross-sector diversification
Private equity firm
Primary Research
46. 1 The rule is proposed 2 Public comment is invited 3 The final rule is issued
Cross-sector diversification
The law making Process
Stakeholder mapping
value creating operations in the value chain of operation
47. The resources and competences of an organization needed for it to survive and prosper.
Mid term Objectives
Extended Organization
The law making Process
Strategic capability
48. Cut costs - add value - or increase prices
Cross-sector diversification
to increase profitability
Corporate social responsibility
Demographic Factors
49. 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.
STEEP
Operations
benefits of competitor intelligence
Action Plan
50. Describes the structure of product - service - and information flows and the role of participating parties.
The law making Process
Junk bond
Core competences
Business model