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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 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






2. Comparing a the firms operations with a direct competitor






3. primary activities and support activities






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






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






6. 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.






7. Ensuring that everything is carried out according to the plan. Eg: Measuring recruiting efforts and effectiveness.






8. Acquisition of a company that operates in the same industry using the same value chain.






9. 1 Charts and graphs 2 Measures of central tendency 3 Measures of variation 4 Measures of association






10. Economic - legal resp. - ethical - and discretionary






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






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






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






14. 1 Global Economy 2 Wage comparison 3 Trade Agreement 4 International Labor Law






15. 1 Financial 2 Human 3 Physical 4 Technological






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






17. Designing a structure to assist in goal accomplishment that effectively relates human and nonhuman resources to the tasks of enterprise.Eg : Designing an interview process.






18. They represent milestones that must be achieved in order to reach the long term objectives. They are usually within 6 months to a year.






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






20. 1. a graph demonstrating the different positions a firm can adopt in creating value 2. compares value and differentiation (Y) versus high cost to low cost (x)






21. These strategy requires that organizations focus on a particular buyer group - segment of the product line or geographical market within an industry. It is build around serving particular target to the exclusion of others.






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






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






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






25. 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






26. 1 Organizational Strategy 2 Business unit strategy 3 Functional Strategy






27. 1. multinational 2. global 3. transnational






28. Studying the future and arranging the means for dealing with it - which encompass forecasting - selling goals - and determining actions. eg: Forecasting future staffing needs.






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






30. 1 Work Specialization 2 Departmentalization 3 Chain of Command 4 Centralization and Decentralization 5 Formalization






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






32. Comparing 1 operation in the firm with another






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






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






35. 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






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






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






38. 1 Demographic Factors 2 Economic Factors 3 Employment Factors 4 International Factors 5 Political Factors 6 Social Factors 7 Technological Factors






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






40. 1 Balance Scorecard






41. 1 Vision and mission 2 Value Statement






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






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






44. 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






45. The categories of activities within and around an organization which together create a product or service.






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






47. Serve the purpose similar to short term objectives but are completed in 1 to 3 years.






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






49. 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






50. 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. )






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