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. 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






2. 1. talking to competitors - customers - and distributors 2. testing competitors products 3. view competitors exhibits at trade shows






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






4. Is concerned with the ways in which an organization exeeds its minimum obligations to stakeholders specified through regulation.






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






6. Comparing similar functional firms in your industry






7. The resources and competences of an organization needed for it to survive and prosper.






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






9. 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






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






11. 1 Strategy Formulation 2 Strategy Development 3 Strategy Implementation 4 Strategy Evaluation






12. Combine both qualitative and quantitative measures - acknowledge the expectations of different stakeholders and relate an assessment of performance to choice of strategy.






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






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






15. Cut costs - add value - or increase prices






16. It involves data that is gathered firsthand for the specific evaluation being conduced.






17. The underlying principles that guide an organization's strategy






18. Value - Exploit - Rare - Imitate - Substitute






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






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






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






22. 1 Financial 2 Human 3 Physical 4 Technological






23. 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






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






25. 1 Global Economy 2 Wage comparison 3 Trade Agreement 4 International Labor Law






26. Comparing a the firms operations with a direct competitor






27. 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.






28. 1 Statement of the problem 2 Objectives 3 Description of potential solution 4 Project Time line 5 Project Metrics.






29. 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. )






30. Risk associated with a particular business.






31. 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.






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






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






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






35. It refers to relocation of processes or functions from a home country to another country and it appeals to organization for cost saving.






36. 1 Balance Scorecard






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






38. 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.






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






40. 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






41. 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.






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






43. Acquisition of a company that operates in the same industry using the same value chain.






44. 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?






45. 1 The rule is proposed 2 Public comment is invited 3 The final rule is issued






46. 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






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






48. Business remain separate entities but may appear to outsiders as one entity. Commonly formed through the use of outsourcing.






49. 1 Population 2 Sample 3 Normal Distribution






50. 1 Traditional Generation 2 Baby Boom Generation 3 Generation X 4 Generation Y