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. Comparing 1 operation in the firm with another






2. Specific - Measurable - Attainable - Realistic - Timely






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






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






5. 1 Planning 2 Organizing 3 Directing 4 Controlling






6. 1 Preparation 2 Due Diligence 3 Planning integration of the business entities 4 Implementation - monitoring and measurement






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






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






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






10. It can be defined as principles of conduct within an organization that guide decision making and behavior.






11. 1 Statement of the problem 2 Objectives 3 Description of potential solution 4 Project Time line 5 Project Metrics.






12. 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






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






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






15. 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.






16. 1 Attitudes towards career 2 Immigration 3 Occupational and industry skills 4 Recruitment 5 Unions 6 Unemployment 7 Turnover 8 Relocation






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






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






19. 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






20. Identifies stakeholder expectations and power and helps in understanding political priorities.






21. 1 Interest Rates 2 Gross Domestic Product (GDP) 3 Consumer Price Index (CPI) 4 Disposable Income 5 Inflation






22. 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






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






24. A plant or service department is moved to another country. Although separated geographically - the off shored entity remains part of the organization - and workers are still employees of the organization.






25. 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






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






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. 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.






29. These objectives are generally achieved within 3 to 5 years. Establishing these objectives provides direction - synergy and aids in establishing guidelines for evaluation.






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






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






32. 1 Global Economy 2 Wage comparison 3 Trade Agreement 4 International Labor Law






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






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






35. 1. multinational 2. global 3. transnational






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






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






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






39. Combine both qualitative and quantitative measures - acknowledge the expectations of different stakeholders and relate an assessment of performance to choice of strategy.






40. 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.






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






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






43. 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






44. 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.






45. 1 Strategy Formulation 2 Strategy Development 3 Strategy Implementation 4 Strategy Evaluation






46. Comparing similar functional firms in your industry






47. 1 Cost Leadership 2 Differentiation 3 Focus






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






49. Comparing operations in totally unrelated industries






50. 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