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






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






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






4. Specific - Measurable - Attainable - Realistic - Timely






5. 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.






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






7. Value - Exploit - Rare - Imitate - Substitute






8. 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






9. 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






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






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






12. 1 Planning 2 Organizing 3 Directing 4 Controlling






13. 1 Interest Rates 2 Gross Domestic Product (GDP) 3 Consumer Price Index (CPI) 4 Disposable Income 5 Inflation






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






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






16. It describes an organizational challenge and possible alternative solutions - presenting evidence in support of a proposed solution. They are effective way to compete for limited resources.






17. 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






18. 1 Demographic Factors 2 Economic Factors 3 Employment Factors 4 International Factors 5 Political Factors 6 Social Factors 7 Technological Factors






19. 1 Age 2 Gender 3 Generational Difference 4 Geographic shifts in population 5 Ethnicity 6 Unskilled Labor 7 Non traditional labor force






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






21. Comparing a the firms operations with a direct competitor






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






23. Comparing similar functional firms in your industry






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






25. 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






26. 1 Cost Benefit Analysis 2 Return On Investment 3 Breakeven Analysis 4 Financial Statement Analysis






27. 1. multinational 2. global 3. transnational






28. 1 Cost Leadership 2 Differentiation 3 Focus






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






30. 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






31. 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.






32. Scheduling problems are largely resolved - and staffing and organizational culture begin to stabilize. Policies - procedures and rules are formalized and communicated to all employees. Training gains added emphasis in this phase to maintain flexibi






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






34. 1 Financial 2 Human 3 Physical 4 Technological






35. Quality of information and interpretation of it






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






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






38. 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






39. These are the detailed steps a unit - department - or team will take in order to achieve the short term objectives.






40. 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. )






41. 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






42. 1 Vision and mission 2 Value Statement






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






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






45. 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.






46. Cut costs - add value - or increase prices






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






48. 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.






49. 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.






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