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






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






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






4. 1 Capacity 2 Standards 3 Scheduling 4 Inventory 5 Control






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






6. 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)






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






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






9. Quality of information and interpretation of it






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






11. 1 Financial 2 Human 3 Physical 4 Technological






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






13. Cut costs - add value - or increase prices






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






15. Private (nonpublic) corporations or partnerships that use their financial resources to engineer buyouts and acquisitions of other companies.






16. Comparing similar functional firms in your industry






17. 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






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






19. 1 Strategy Formulation 2 Strategy Development 3 Strategy Implementation 4 Strategy Evaluation






20. 1 Experiments 2 Pilot Projects 3 Surveys/questionnaires 4 Interviews (exit - panel - individual) 5 Focus group 6 Direct observation 7 Testing






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






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






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






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






25. 1 Balance Scorecard






26. The types of decisions made and direction created for a single business






27. The categories of activities within and around an organization which together create a product or service.






28. 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.






29. Risk associated with a particular business.






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






31. 1 Statement of the problem 2 Objectives 3 Description of potential solution 4 Project Time line 5 Project Metrics.






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






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






34. Risk associated with macro-economic forces.






35. 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.






36. Processes and activities used to formulate HR objectives - practices - and policies.






37. Organization become entrenched in rules and policies and leadership become resistant to change. series of efforts to turn the tide such as product enhancement or cost reduction programs. If unsuccessful in these then will focus on reducing workforce






38. It is simple and effective process for collecting information on the organization's current state. It answers four basic question.






39. 1 SWOT analysis and environmental scanning 2 Long term objectives 3 Strategies to achieve these objectives are defined






40. 1 Cost Leadership 2 Differentiation 3 Focus






41. 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






42. 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






43. A process where a company is bought primarily using debt. Typically engineered by management of the company - or by private equity firms.






44. 1 Work Specialization 2 Departmentalization 3 Chain of Command 4 Centralization and Decentralization 5 Formalization






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






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






47. primary activities and support activities






48. They represent milestones that must be achieved in order to reach the long term objectives. They are usually within 6 months to a year.






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






50. 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