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






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






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






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






5. 1 The rule is proposed 2 Public comment is invited 3 The final rule is issued






6. 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






7. 1 They can help to identify improvements in an organization's performance that can be attributed to the projects 2 They can suggest appropriate targets for improvement to be included in project objectives.






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






9. Comparing 1 operation in the firm with another






10. Value - Exploit - Rare - Imitate - Substitute






11. 1 Traditional Generation 2 Baby Boom Generation 3 Generation X 4 Generation Y






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






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






14. 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






15. 1 Capacity 2 Standards 3 Scheduling 4 Inventory 5 Control






16. Risk associated with macro-economic forces.






17. Quality of information and interpretation of it






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






19. Comparing a the firms operations with a direct competitor






20. Is part of an organization for which there is a distinct external market for goods or services that is different from another SBU






21. 1 Age 2 Gender 3 Generational Difference 4 Geographic shifts in population 5 Ethnicity 6 Unskilled Labor 7 Non traditional labor force






22. 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.






23. 1 Planning 2 Organizing 3 Directing 4 Controlling






24. 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






25. 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.






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






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






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






29. primary activities and support activities






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






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






32. Divestiture in which a corporation creates a new company out of one of its businesses. The new company has its own shares of stock and shareholders - and its own board of directors. Typically - shareholders of the corporation will receive newly iss






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






34. The benefits that develop through the extension and application of corporate resources to a newly acquired company.






35. A tool to help you think about the wider issues that have an impact on the industry or service area as a whole - taking five main categories into account: Socio-cultural - Technological - Economic - Environmental - Political






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






37. 1 Balance Scorecard






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






39. 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






40. 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.






41. 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)






42. 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






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






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






45. A strategy by which an organization peruses new product offerings and new markets.






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






47. 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






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






49. The resources and competences of an organization needed for it to survive and prosper.






50. 1 Cost Leadership 2 Differentiation 3 Focus