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. 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?






2. The choices made through the 4 Ps : Product - Price - Place and Promotion are what makes a product or service unique. This is distinctive blend of marketing decision.






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






4. 1 Financial 2 Human 3 Physical 4 Technological






5. 1 Advances in technology 2 Technological skills 3 The digital divide 4 Process changes






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






7. Comparing similar functional firms in your industry






8. 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






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






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






11. Specific - Measurable - Attainable - Realistic - Timely






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






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






14. 1 Strategy Formulation 2 Strategy Development 3 Strategy Implementation 4 Strategy Evaluation






15. 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






16. 1. choose a viable position on efficiency frontier 2. configure its internal ops to support the chosen position 3.ensure firm has the right orginizational structure in place to execute its strategy






17. 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. )






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






19. 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.






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






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






22. 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.






23. Comparing operations in totally unrelated industries






24. 1 Interest Rates 2 Gross Domestic Product (GDP) 3 Consumer Price Index (CPI) 4 Disposable Income 5 Inflation






25. Acquisition of a company that operates in the same industry using the same value chain.






26. 1 The rule is proposed 2 Public comment is invited 3 The final rule is issued






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






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






29. A strategy by which an organization takes increased share of its existing markets with its existing product range.






30. Detailed and plausible views of how the business environment of an organization might develop in the future based on key drivers for change about which there is a high level of uncertainty






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






32. 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)






33. It is based on numeric data that is analyzed with statistic method. 1 Descriptive Statistic 2 Inferential Statistic






34. 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.






35. 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






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






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






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






39. 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






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






41. 1 Introduction 2 Growth 3 Maturity 4 Decline






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






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






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






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






47. 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"






48. 1 Statement of the problem 2 Objectives 3 Description of potential solution 4 Project Time line 5 Project Metrics.






49. 1 Planning 2 Organizing 3 Directing 4 Controlling






50. 1 Vision and mission 2 Value Statement