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. Value - Exploit - Rare - Imitate - Substitute






2. They are often based on industry best practice.






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






4. A strategy by which an organization peruses new product offerings and new markets.






5. Internal Benchmarks establish levels of current performance of a particular tasks - such as cost per hire.






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






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






8. 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.






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






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






12. The organization relies on high energy and creativity. Attempts to develop products and services - decision may be made to use experiences staff so training is not an integral part of this phase. may meet or exceed the standard pay range to recruit






13. 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






14. 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.






15. 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.






16. 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






17. 1 Strategy Formulation 2 Strategy Development 3 Strategy Implementation 4 Strategy Evaluation






18. Comparing 1 operation in the firm with another






19. 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






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






21. Comparing operations in totally unrelated industries






22. Risk associated with macro-economic forces.






23. 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"






24. 1 SWOT analysis and environmental scanning 2 Long term objectives 3 Strategies to achieve these objectives are defined






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






26. 1 Advances in technology 2 Technological skills 3 The digital divide 4 Process changes






27. 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






28. 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






29. 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






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






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






32. 1 Cost Benefit Analysis 2 Return On Investment 3 Breakeven Analysis 4 Financial Statement Analysis






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






34. 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






35. 1 Global Economy 2 Wage comparison 3 Trade Agreement 4 International Labor Law






36. Is the means by which a strategy can be pursued.






37. 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.






38. 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






39. 1 Population 2 Sample 3 Normal Distribution






40. Not necessarily considered HR core function like benefits plan administration - payroll administration - and background checks - etc.






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






42. 1 Short term objective 2 Action plan to achieve these objective 3 Allocating resources 4 Motivating employees to manage the plan.






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






44. 1 Traditional Generation 2 Baby Boom Generation 3 Generation X 4 Generation Y






45. When a corporation can take synergistic advantage of administrative and support activities of the value chain in making an acquisition.






46. It specifies what activities the organization intends to pursue and what course of management has charted for the future. It provides general outline of how the organization will achieve the vision. It includes who the company is - what the company






47. 1 Interest Rates 2 Gross Domestic Product (GDP) 3 Consumer Price Index (CPI) 4 Disposable Income 5 Inflation






48. 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






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






50. 1 Preparation 2 Due Diligence 3 Planning integration of the business entities 4 Implementation - monitoring and measurement