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. 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"






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






3. 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






4. 1 Organizational Strategy 2 Business unit strategy 3 Functional Strategy






5. 1 Work Specialization 2 Departmentalization 3 Chain of Command 4 Centralization and Decentralization 5 Formalization






6. 1 Vision and mission 2 Value Statement






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






8. They are used to condense and summarize large quantities of data for quick understanding.






9. 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






10. 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. )






11. 1 Charts and graphs 2 Measures of central tendency 3 Measures of variation 4 Measures of association






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






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






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






15. 1 Global Economy 2 Wage comparison 3 Trade Agreement 4 International Labor Law






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






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






18. 1. multinational 2. global 3. transnational






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






20. 1 SWOT analysis and environmental scanning 2 Long term objectives 3 Strategies to achieve these objectives are defined






21. 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.






22. 1 Strategies are reviewed 2 Performance towards objective is measured 3 Corrective action is taken






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






24. 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.






25. It describes an organizational challenge and possible alternative solutions - presenting evidence in support of a proposed solution. They are effective way to compete for limited resources.






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






27. Comparing a the firms operations with a direct competitor






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






29. The skills and abilities by which resources are deployed through an organization's activities and processes such as to achieve competitive advantage in ways that others cannot imitate or obtain.






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






31. 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






32. 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






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






34. They are often based on industry best practice.






35. A plant or service department is moved to another country. Although separated geographically - the off shored entity remains part of the organization - and workers are still employees of the organization.






36. 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






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






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






39. To achieve cost advantage - an organization has to be the low cost producer in its industry.The finished products of low cost producers are sold at prices that beat the competition. These industries depend on volume to provide profit and is less bra






40. 1 Population 2 Sample 3 Normal Distribution






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






42. 1 Balance Scorecard






43. Is concerned with the ways in which an organization exeeds its minimum obligations to stakeholders specified through regulation.






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






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






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






47. 1 Advances in technology 2 Technological skills 3 The digital divide 4 Process changes






48. 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






49. 1 Demographic Factors 2 Economic Factors 3 Employment Factors 4 International Factors 5 Political Factors 6 Social Factors 7 Technological Factors






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