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






2. Risk associated with a particular business.






3. 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.






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






5. 1 Vision and mission 2 Value Statement






6. 1 Organizational Strategy 2 Business unit strategy 3 Functional Strategy






7. Not necessarily considered HR core function like benefits plan administration - payroll administration - and background checks - etc.






8. Value - Exploit - Rare - Imitate - Substitute






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






11. 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"






12. Business remain separate entities but may appear to outsiders as one entity. Commonly formed through the use of outsourcing.






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






14. Comparing operations in totally unrelated industries






15. 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)






16. 1 Population 2 Sample 3 Normal Distribution






17. 1 Work Specialization 2 Departmentalization 3 Chain of Command 4 Centralization and Decentralization 5 Formalization






18. 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.






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






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






21. 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






22. 1 Capacity 2 Standards 3 Scheduling 4 Inventory 5 Control






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






24. Cut costs - add value - or increase prices






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






26. Economic - legal resp. - ethical - and discretionary






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






28. 1 Experiments 2 Pilot Projects 3 Surveys/questionnaires 4 Interviews (exit - panel - individual) 5 Focus group 6 Direct observation 7 Testing






29. 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






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






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






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






33. 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.






34. primary activities and support activities






35. 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






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






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






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. 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






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






41. 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.






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






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






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






45. 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.






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






47. Risk associated with macro-economic forces.






48. Comparing a the firms operations with a direct competitor






49. 1 Statement of the problem 2 Objectives 3 Description of potential solution 4 Project Time line 5 Project Metrics.






50. 1 Balance Scorecard