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. 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






2. When a corporation can take synergistic advantage of relationships with suppliers and/or customers in making an acquisition.






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






4. 1 Financial 2 Human 3 Physical 4 Technological






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






6. Comparing 1 operation in the firm with another






7. 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.






8. 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






9. 1 Experiments 2 Pilot Projects 3 Surveys/questionnaires 4 Interviews (exit - panel - individual) 5 Focus group 6 Direct observation 7 Testing






10. 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






11. Risk associated with macro-economic forces.






12. 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.






13. Quality of information and interpretation of it






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






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






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






17. 1 SWOT analysis and environmental scanning 2 Long term objectives 3 Strategies to achieve these objectives are defined






18. 1 Population 2 Sample 3 Normal Distribution






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






20. 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.






21. 1. information systems 2. logistics 3. HR






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






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






24. 1 Traditional Generation 2 Baby Boom Generation 3 Generation X 4 Generation Y






25. 1 Cost Leadership 2 Differentiation 3 Focus






26. 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






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






28. 1 Strategies are reviewed 2 Performance towards objective is measured 3 Corrective action is taken






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






30. 1 Capacity 2 Standards 3 Scheduling 4 Inventory 5 Control






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






32. Cut costs - add value - or increase prices






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






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






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






36. A merger or acquisition where there is some similarity of industry and/or value chain between the corporation and the company it seeks to acquire.






37. 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






38. 1 Cost Benefit Analysis 2 Return On Investment 3 Breakeven Analysis 4 Financial Statement Analysis






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






40. Comparing a the firms operations with a direct competitor






41. 1 Introduction 2 Growth 3 Maturity 4 Decline






42. Comparing similar functional firms in your industry






43. A value creating strategy that creates more perceived value by primarily reducing costs






44. 1 Balance Scorecard






45. Ensuring that everything is carried out according to the plan. Eg: Measuring recruiting efforts and effectiveness.






46. 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"






47. 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.






48. 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






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






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