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. A process or function previously performed by an organization is transferred to a separate entity. The workers now performing this function are not employees of the organization but they are employees of entity to whom the work is given.






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






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






4. 1 Balance Scorecard






5. Risk associated with macro-economic forces.






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






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






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






9. It is simple and effective process for collecting information on the organization's current state. It answers four basic question.






10. 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.






11. 1 Introduction 2 Growth 3 Maturity 4 Decline






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






13. A method of planning in which corporate hq develops and provides guidelines - disadvantages: the method of planning restricts initiative at lower level - shows insensitivity to local conditions - advantages: headquarters formulates a plan; this ensur






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






15. 1 Strategy Formulation 2 Strategy Development 3 Strategy Implementation 4 Strategy Evaluation






16. 1 Capacity 2 Standards 3 Scheduling 4 Inventory 5 Control






17. 1 Attitudes towards career 2 Immigration 3 Occupational and industry skills 4 Recruitment 5 Unions 6 Unemployment 7 Turnover 8 Relocation






18. These strategy requires that organizations focus on a particular buyer group - segment of the product line or geographical market within an industry. It is build around serving particular target to the exclusion of others.






19. Special Purpose Acquisition Company. Empty-shell firms that promise to buy businesses with the proceeds of their initial public stock offerings.






20. It describes what is important to an organization and often dictate employee behavior. They are the heart of the culture of an organization.






21. 1 Statement of the problem 2 Objectives 3 Description of potential solution 4 Project Time line 5 Project Metrics.






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






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






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






25. 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






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






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






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






29. 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.






30. 1 Cost Benefit Analysis 2 Return On Investment 3 Breakeven Analysis 4 Financial Statement Analysis






31. 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






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






33. 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






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






35. 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






36. Private (nonpublic) corporations or partnerships that use their financial resources to engineer buyouts and acquisitions of other companies.






37. 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






38. 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






39. 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






40. Cost savings accomplished by operating combined companies more efficiently.






41. Often accompanied by backlogs and scheduling problems while the organization adjusts to increase demands. Policies - procedures and rules should begin to be formalized as organization needs increased structure during this phase to operate effectively






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






43. 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.






44. 1 Charts and graphs 2 Measures of central tendency 3 Measures of variation 4 Measures of association






45. 1 Advances in technology 2 Technological skills 3 The digital divide 4 Process changes






46. 1 Interest Rates 2 Gross Domestic Product (GDP) 3 Consumer Price Index (CPI) 4 Disposable Income 5 Inflation






47. Comparing a the firms operations with a direct competitor






48. 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.






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






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