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. 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






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






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






4. 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






5. A strategy by which an organisation offers existing products to new markets.






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






7. 1 The rule is proposed 2 Public comment is invited 3 The final rule is issued






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






9. 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






10. 1 Introduction 2 Growth 3 Maturity 4 Decline






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






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






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






14. It is a system of moral principles and values that establish appropriate conduct.






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






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






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






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






19. 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.






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






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






22. Risk associated with macro-economic forces.






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






24. 1 Charts and graphs 2 Measures of central tendency 3 Measures of variation 4 Measures of association






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






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






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






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






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






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






31. Risk associated with a particular business.






32. They are often based on industry best practice.






33. 1 Strategies are reviewed 2 Performance towards objective is measured 3 Corrective action is taken






34. 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






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






36. Comparing 1 operation in the firm with another






37. 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)






38. Is concerned with the structures and systems of control by which managers are held accountable to those who have a legitimate stake an organization.






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






40. 1 Historical Data (HR records - census records) 2 Benchmarking and best practices reports 3 Purchased Data ( Gallup or Roper data) 4 Professional Journals - Books - and other media 5 Secondhand reports (grapevine reports)






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






42. 1 Preparation 2 Due Diligence 3 Planning integration of the business entities 4 Implementation - monitoring and measurement






43. Independent & entrepreneurial - adopts a more flexible approach to their international operations - More sensitive & responsive to local environment






44. 1 Global Economy 2 Wage comparison 3 Trade Agreement 4 International Labor Law






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






46. Suppliers - buyers - competitive rivalry - product substitutes and potential entrants; reinforces the importance of economic theory; analytical tool of previously lacking the field of strategy; determines the nature/level of competition and profit






47. 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.






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






49. 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.






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