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. It involves data that is gathered firsthand for the specific evaluation being conduced.






2. 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)






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






4. 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






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






6. The decisions made and the direction provided for managing multiple business units under a single corporate umbrella.






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






8. Comparing similar functional firms in your industry






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






10. 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.






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. Comparing operations in totally unrelated industries






13. The organization relies on high energy and creativity. Attempts to develop products and services - decision may be made to use experiences staff so training is not an integral part of this phase. may meet or exceed the standard pay range to recruit






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






15. 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.






16. 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






17. Cut costs - add value - or increase prices






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






19. 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.






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






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






22. 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.






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






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






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






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






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






28. 1 Short term objective 2 Action plan to achieve these objective 3 Allocating resources 4 Motivating employees to manage the plan.






29. 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.






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






31. 1 Statement of the problem 2 Objectives 3 Description of potential solution 4 Project Time line 5 Project Metrics.






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






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






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






36. 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






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






38. They represent milestones that must be achieved in order to reach the long term objectives. They are usually within 6 months to a year.






39. 1 Balance Scorecard






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






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






42. 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






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






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






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






46. They are often based on industry best practice.






47. Risk associated with a particular business.






48. 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.






49. Adhering to set of governing principles whether the philosophy is one of fairness - individual rights - avoiding conflicts of interest or another philosophical grounding.






50. primary activities and support activities