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






2. 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






3. 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.






4. 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.






5. Engaging in those activities that ensure effective operation - including leadership and motivation pf employee action towards goals. eg : Scheduling and conducting interview.






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






7. 1 Experiments 2 Pilot Projects 3 Surveys/questionnaires 4 Interviews (exit - panel - individual) 5 Focus group 6 Direct observation 7 Testing






8. Serve the purpose similar to short term objectives but are completed in 1 to 3 years.






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






10. 1 Age 2 Gender 3 Generational Difference 4 Geographic shifts in population 5 Ethnicity 6 Unskilled Labor 7 Non traditional labor force






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






12. 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






13. Specific - Measurable - Attainable - Realistic - Timely






14. Comparing similar functional firms in your industry






15. 1 Traditional Generation 2 Baby Boom Generation 3 Generation X 4 Generation Y






16. 1 Short term objective 2 Action plan to achieve these objective 3 Allocating resources 4 Motivating employees to manage the plan.






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. primary activities and support activities






19. 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






20. 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.






21. 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.






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






23. 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.






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






25. 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)






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






27. 1 Financial 2 Human 3 Physical 4 Technological






28. 1 Strategies are reviewed 2 Performance towards objective is measured 3 Corrective action is taken






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






30. Information systems with a charter to achieve competitive superiority.






31. A corporation that owns a large number of businesses that are different sizes and operate in different industry sectors.






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






34. Comparing 1 operation in the firm with another






35. Cut costs - add value - or increase prices






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






37. 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






38. 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






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






40. 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.






41. 1. multinational 2. global 3. transnational






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






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






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






45. These are the detailed steps a unit - department - or team will take in order to achieve the short term objectives.






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






47. 1 Population 2 Sample 3 Normal Distribution






48. 1 Global Economy 2 Wage comparison 3 Trade Agreement 4 International Labor Law






49. Comparing a the firms operations with a direct competitor






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