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






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






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






4. Risk associated with a particular business.






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






6. 1 Global Economy 2 Wage comparison 3 Trade Agreement 4 International Labor Law






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






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






9. 1 Cost Leadership 2 Differentiation 3 Focus






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






11. 1. R&D 2. production 3. marketing and sales 4. customer service






12. 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.






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






14. Comparing 1 operation in the firm with another






15. A method of planning in which corporate hq develops and provides guidelines - disadvantages: the method of planning restricts initiative at lower level - shows insensitivity to local conditions - advantages: headquarters formulates a plan; this ensur






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 Planning 2 Organizing 3 Directing 4 Controlling






18. Value - Exploit - Rare - Imitate - Substitute






19. Cost savings accomplished by operating combined companies more efficiently.






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






21. The central focus of the department is the provision of goods and services to the customer. Basically this department must ensure that the product/service is produced and delivered to the customer.






22. 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






23. 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.






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






25. 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.






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






27. 1 Demographic Factors 2 Economic Factors 3 Employment Factors 4 International Factors 5 Political Factors 6 Social Factors 7 Technological Factors






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






29. Ensure that organization's strategy and operations are consistent with each other






30. 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






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. 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






33. 1. multinational 2. global 3. transnational






34. A value creating strategy that primary increases perceived value by increasing attractiveness of product






35. 1 Statement of the problem 2 Objectives 3 Description of potential solution 4 Project Time line 5 Project Metrics.






36. 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. )






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






38. 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






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






40. 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.






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






42. primary activities and support activities






43. 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?






44. Cut costs - add value - or increase prices






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






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






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






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






49. When a corporation is able to combine similar primary value chain activities.






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