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Business Strategy

Subject : business-skills
  • Answer 50 questions in 15 minutes.
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  • Match each statement with the correct term.
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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 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. )

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

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

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

5. 1 Traditional Generation 2 Baby Boom Generation 3 Generation X 4 Generation Y

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

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

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

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

10. 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

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

12. 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

13. primary activities and support activities

14. Specific - Measurable - Attainable - Realistic - Timely

15. 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

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

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

18. 1 Financial 2 Human 3 Physical 4 Technological

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

20. Cut costs - add value - or increase prices

21. 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

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

23. A strategy by which an organization takes increased share of its existing markets with its existing product range.

24. 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

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

26. Acquisition of another company upstream (supplier) or downstream (buyer) in the value chain of the same industry in which the corporation operates.

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

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

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

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

31. The underlying principles that guide an organization's strategy

32. Acquisition of a company in a different industry - but which employs a similar value chain.

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

34. New ideas should not be dismissed simply because they originated at a grassroots level. Business innovations developed under these circumstances will create new objectives or modify existing ones and create an overlay of new direction compared to wha

35. 1 SWOT analysis and environmental scanning 2 Long term objectives 3 Strategies to achieve these objectives are defined

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

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

38. 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)

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

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

41. It is a process not just written project plan that helps an organization focus on how to succeed in the future - where the company is now? - where does the company want to go? - How will the company get there?

42. 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

43. 1 Global Economy 2 Wage comparison 3 Trade Agreement 4 International Labor Law

44. 1 Population 2 Sample 3 Normal Distribution

45. 1 Capacity 2 Standards 3 Scheduling 4 Inventory 5 Control

46. 1 Organizational Strategy 2 Business unit strategy 3 Functional Strategy

47. 1 Strategies are reviewed 2 Performance towards objective is measured 3 Corrective action is taken

48. 1 Introduction 2 Growth 3 Maturity 4 Decline

49. Ability to broaden a product line or a customer base achieved through an acquisition.

50. 1 Cost Leadership 2 Differentiation 3 Focus