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






2. 1. multinational 2. global 3. transnational






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






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






5. 1 Strategies are reviewed 2 Performance towards objective is measured 3 Corrective action is taken






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






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






8. 1 Interest Rates 2 Gross Domestic Product (GDP) 3 Consumer Price Index (CPI) 4 Disposable Income 5 Inflation






9. 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.






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






11. 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.






12. 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.






13. 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






14. 1 Global Economy 2 Wage comparison 3 Trade Agreement 4 International Labor Law






15. Value - Exploit - Rare - Imitate - Substitute






16. Sell more in existing markets - or enter new markets






17. 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.






18. 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






19. Risk associated with a particular business.






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






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






22. Cut costs - add value - or increase prices






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






24. 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)






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






26. 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






27. 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






28. Refers to an intensive investigation of all factors surrounding a business decision to ensure that all risks are understood.






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






30. 1 Population 2 Sample 3 Normal Distribution






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






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






34. 1 Attitudes towards career 2 Immigration 3 Occupational and industry skills 4 Recruitment 5 Unions 6 Unemployment 7 Turnover 8 Relocation






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






36. New ideas should not be dismissed simply because they originated at a grassroots level. Business innovations developed under these circumstances will create new objectives or modify existing ones and create an overlay of new direction compared to wha






37. They are often based on industry best practice.






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






39. 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.






40. 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






41. 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






42. 1 Short term objective 2 Action plan to achieve these objective 3 Allocating resources 4 Motivating employees to manage the plan.






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






44. 1 Financial 2 Human 3 Physical 4 Technological






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






46. 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.






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






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






49. 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






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