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






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






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






4. Not necessarily considered HR core function like benefits plan administration - payroll administration - and background checks - etc.






5. 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






6. 1 Organizational Strategy 2 Business unit strategy 3 Functional Strategy






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






8. 1 Introduction 2 Growth 3 Maturity 4 Decline






9. 1 Demographic Factors 2 Economic Factors 3 Employment Factors 4 International Factors 5 Political Factors 6 Social Factors 7 Technological Factors






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






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






12. 1 Interest Rates 2 Gross Domestic Product (GDP) 3 Consumer Price Index (CPI) 4 Disposable Income 5 Inflation






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






14. Comparing a the firms operations with a direct competitor






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






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






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






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






19. 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






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






21. 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






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






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






24. 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






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. 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






27. 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






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






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






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






31. 1 Traditional Generation 2 Baby Boom Generation 3 Generation X 4 Generation Y






32. 1. multinational 2. global 3. transnational






33. 1 Experiments 2 Pilot Projects 3 Surveys/questionnaires 4 Interviews (exit - panel - individual) 5 Focus group 6 Direct observation 7 Testing






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






35. 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.






36. 1 Planning 2 Organizing 3 Directing 4 Controlling






37. 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)






38. 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.






39. 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






40. Comparing 1 operation in the firm with another






41. 1 Capacity 2 Standards 3 Scheduling 4 Inventory 5 Control






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






43. 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






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






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






46. 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.






47. 1 The rule is proposed 2 Public comment is invited 3 The final rule is issued






48. Organizations within an industry with similar strategic characteristics - following similar strategies or competing on similar bases






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






50. 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