SUBJECTS
|
BROWSE
|
CAREER CENTER
|
POPULAR
|
JOIN
|
LOGIN
Business Skills
|
Soft Skills
|
Basic Literacy
|
Certifications
About
|
Help
|
Privacy
|
Terms
|
Email
Search
Test your basic knowledge |
Business Strategy
Start Test
Study First
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. Independent & entrepreneurial - adopts a more flexible approach to their international operations - More sensitive & responsive to local environment
Economizing
International Factors
type of responsibilities of a business
mentality of a MNC manager
2. 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
bottom-up
Short term Objectives
Controlling
Mission Statement
3. 1. R&D 2. production 3. marketing and sales 4. customer service
primary activities of a business
Cross-sector diversification
Horizontal diversification
Off shoring
4. Comparing 1 operation in the firm with another
Strategy Implementation
Vision Statement
internal benchmarking
Leveraged buyout (LBO)
5. It is the process that involves a systematic survey and interruption of relevant data to identify external opportunities and threats and to assess how these factors affect the organization currently and how they are likely to affect the organization
skills businesses need to create competitive advantage
Leveraged buyout (LBO)
Strategic Planning Phase
Environmental scanning
6. 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
common practices when analyzing your competition
Corporate strategy
Maturity
differentiation
7. 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
Strategy Evaluation
mentality of MNC
Merger and Acquisition Process
Descriptive Statistic
8. Describes the structure of product - service - and information flows and the role of participating parties.
common practices when analyzing your competition
Corporate social responsibility
Strategic Information Systems
Business model
9. 1 Charts and graphs 2 Measures of central tendency 3 Measures of variation 4 Measures of association
Descriptive Statistic
Performance Measures
mentality of a MNC manager
Directing
10. Corporation that owns the majority of voting shares of other companies - but that allows the other companies to operate as independent entities.
SPAC
External Benchmarks
Controlling
Holding company
11. The political - economic - social - technological - environmental - and legal dimensions of an organization's external environment.
CLO
PESTEL
Technological Factors
STEEP
12. 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
Factors that affect external environment
international strategy
Strategic business unit (SBU)
CLO
13. The types of decisions made and direction created for a single business
Inferential Statistic
Business strategy
top-down
Strategy Evaluation
14. Individuals or groups who depend on an organization to fulfill their own goals and on whom - in turn the organization depends.
Leveraged buyout (LBO)
Focus
Stakeholders
generic benchmarking
15. primary activities and support activities
Parts of Business Case
Primary Research
value creating operations in the value chain of operation
Takeover
16. 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.
Primary Research
Marketing Mix
functional benchmarking
Long term Objectives
17. 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.
The law making Process
Employment Factors
Business Case
Operations
18. Comparing a the firms operations with a direct competitor
external benchmarking
Maturity
Market fit
benefits of competitor intelligence
19. It is a vivid - guiding image of the organization's desired future. It is the ultimate picture of what leadership envisions for the organization.
Leveraged buyout (LBO)
efficiency frontier
Vision Statement
Strategy Evaluation
20. Combine both qualitative and quantitative measures - acknowledge the expectations of different stakeholders and relate an assessment of performance to choice of strategy.
Horizontal diversification
Value network
Environmental scanning
Balanced scorecards
21. 1 Demographic Factors 2 Economic Factors 3 Employment Factors 4 International Factors 5 Political Factors 6 Social Factors 7 Technological Factors
generic benchmarking
Stakeholders
skills businesses need to create competitive advantage
Factors that affect external environment
22. 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.
Strategic Planning Phase
Business Case
Corporate social responsibility
Strategic business management
23. Acquisition of another company upstream (supplier) or downstream (buyer) in the value chain of the same industry in which the corporation operates.
Mission Statement
Vertical diversification
Management Functions
Value Statement
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. )
Strategic business unit
Environmental Scanning
Marketing Mix
Internal Benchmarks
25. Internal Benchmarks establish levels of current performance of a particular tasks - such as cost per hire.
Market development
Strategic business unit (SBU)
Business Life Cycle Phases
Internal Benchmarks
26. Not necessarily considered HR core function like benefits plan administration - payroll administration - and background checks - etc.
HR functions that can be outsourced
types of competitive strategies for international businesses
Financial Measures
Management fit
27. 1 Statement of the problem 2 Objectives 3 Description of potential solution 4 Project Time line 5 Project Metrics.
Strategic method
Value Statement
Parts of Business Case
Management fit
28. Is the means by which a strategy can be pursued.
Strategic method
Management Functions
Resources leverage
type of responsibilities of a business
29. Ensuring that everything is carried out according to the plan. Eg: Measuring recruiting efforts and effectiveness.
Secondary Research
Controlling
SWOT Analysis
Inferential Statistic
30. It involves data that is gathered firsthand for the specific evaluation being conduced.
Leveraged buyout (LBO)
Cost Leadership
Corporate governance
Primary Research
31. It can be defined as principles of conduct within an organization that guide decision making and behavior.
Merger and Acquisition Process
international strategy
Diversification
Code of Ethics
32. Adhering to set of governing principles whether the philosophy is one of fairness - individual rights - avoiding conflicts of interest or another philosophical grounding.
SPAC
Methodologies Of Operations
Mid term Objectives
Ethical Behavior
33. 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
Corporate governance
Descriptive Statistic
Agency
top-down
34. 1 Balance Scorecard
Takeover
SWOT Analysis
Performance Measures
Environmental scanning
35. Risk associated with macro-economic forces.
Systematic risk
Market fit
to obtain profit growth
SMART Goals
36. 1 Short term objective 2 Action plan to achieve these objective 3 Allocating resources 4 Motivating employees to manage the plan.
Strategic Information Systems
Strategic Groups
Strategy Implementation
Corporate governance
37. 1 Capacity 2 Standards 3 Scheduling 4 Inventory 5 Control
Purpose of benchmarks
Business Case
Methodologies Of Operations
Leveraged buyout (LBO)
38. 1 Attitudes towards career 2 Immigration 3 Occupational and industry skills 4 Recruitment 5 Unions 6 Unemployment 7 Turnover 8 Relocation
Business Case
Conglomerate
Employment Factors
key to success in strategic planning
39. 1 Global Economy 2 Wage comparison 3 Trade Agreement 4 International Labor Law
SMART Goals
International Factors
Unrelated diversification
Management Functions
40. 1 Organizational Strategy 2 Business unit strategy 3 Functional Strategy
STEEP
Environmental Scanning
Ethics
Strategies at three levels
41. It is based on numeric data that is analyzed with statistic method. 1 Descriptive Statistic 2 Inferential Statistic
Balanced scorecards
Business Case
CLO
Quantitative Analysis
42. Divestiture in which a corporation creates a new company out of one of its businesses. The new company has its own shares of stock and shareholders - and its own board of directors. Typically - shareholders of the corporation will receive newly iss
Spin-off
low-cost strategy
Strategic Planning Phase
Unrelated diversification
43. A company in which 70-95% of revenue comes from a single business
Environmental Scanning
Dominant business
Emergent Strategy
Due Diligence
44. A process where a company is bought primarily using debt. Typically engineered by management of the company - or by private equity firms.
Five Forces
skills businesses need to create competitive advantage
Leveraged buyout (LBO)
Operations
45. They represent milestones that must be achieved in order to reach the long term objectives. They are usually within 6 months to a year.
Operational fit
Environmental Scanning
Short term Objectives
Strategic capability
46. A corporation that owns a large number of businesses that are different sizes and operate in different industry sectors.
Unsystematic risk
Conglomerate
Long term Objectives
functional benchmarking
47. 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
Introduction
Cross-sector diversification
Factors that affect external environment
Business model
48. A strategy by which an organisation offers existing products to new markets.
Market development
Conglomerate
Financial Measures
Merger and Acquisition Process
49. A strategy by which an organization takes increased share of its existing markets with its existing product range.
Horizontal diversification
Ethics
Market Penetrati
Cost Leadership
50. 1 Experiments 2 Pilot Projects 3 Surveys/questionnaires 4 Interviews (exit - panel - individual) 5 Focus group 6 Direct observation 7 Testing
Ethical Behavior
Secondary Research
Primary Research
Off shoring