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 refers to relocation of processes or functions from a home country to another country and it appeals to organization for cost saving.






2. Value - Exploit - Rare - Imitate - Substitute






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






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






5. 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






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






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






8. 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.






9. 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






10. Risk associated with macro-economic forces.






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






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






13. 1 Traditional Generation 2 Baby Boom Generation 3 Generation X 4 Generation Y






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






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






16. 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.






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






18. 1 Balance Scorecard






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






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






21. The organization of a set of businesses that share identical or very similar strategies or strategic challenges.






22. Specific - Measurable - Attainable - Realistic - Timely






23. 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.






24. 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. )






25. 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.






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






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






28. They are often based on industry best practice.






29. 1 Cost Leadership 2 Differentiation 3 Focus






30. 1 Organizational Strategy 2 Business unit strategy 3 Functional Strategy






31. 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.






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






33. 1 Global Economy 2 Wage comparison 3 Trade Agreement 4 International Labor Law






34. 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)






35. 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.






36. 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






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






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






39. 1 Planning 2 Organizing 3 Directing 4 Controlling






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






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






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






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






44. 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






45. Comparing a the firms operations with a direct competitor






46. Independent & entrepreneurial - adopts a more flexible approach to their international operations - More sensitive & responsive to local environment






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






48. 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.






49. 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






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







Sorry!:) No result found.

Can you answer 50 questions in 15 minutes?


Let me suggest you:

Browse all subjects

Browse all tests

Most popular tests



Major Subjects

Tests & Exams


AP
CLEP
DSST
GRE
SAT
GMAT

Browse all subjects

Browse all tests

Most popular tests