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Practice Reading: Fill in the Blanks (Dropdown) ID: #1189 Corporate Level Businesses
Instructions ›
Below is a text with blanks. Click on each blank, a list of choices will appear: Select the appropriate answer choice for each blank.
* Select the correct answer into all dropdown fields. You need to answer all questions before clicking verify button.
At  the  corporate  level,  businesses  need  to  ask  themselves    questions  such  as  ‘Which  business  should  we  be  in?’  At  the  business  level,  a  business  needs  to  ask  itself.  ‘How  do  we  ?’  It  is  at  this  latter  level  that  we  position  our  thinking.  The  organization  has  decided  that  it  will  compete  in  a  certain  market  and  is  seeking  ways  to  optimize  what  it  should  do  in  pursuing  its  goals,  in  other  words,  what  its  strategy  should  be.  How  we  think  about  business  strategy,  has  evolved  and  changed  as  new  and  better  ideas  have  become  more  widely    and  accepted  as  the  needs  of  business  have  also  changed.  Business  strategy  has  had  many  definitions  but  these  are  two  that  give  a  sense  of  what  is  involved,    of  where  we  are  in  time:  Strategy  is  about  matching  the  competencies  of  the  organization  to  its  environment.  A  strategy  describes  how  an  organization  aims  to  meet  its  objectives’.

Result:

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Correct answer: fundamental

Explanation: The word 'fundamental' fits grammatically and contextually as it refers to essential or basic questions that businesses must consider at the corporate level. It aligns with the idea of asking core questions necessary for strategic decision-making.

Meaning: 'Fundamental' means something that is essential or foundational, indicating the basic questions that need to be addressed by businesses.

Wrong options:

  • elementary: 'Elementary' suggests something simple or basic but lacks the depth implied by 'fundamental' in a business context.
  • structural: 'Structural' relates to the arrangement or organization of something, which does not directly pertain to the nature of the questions being asked.
  • commercial: 'Commercial' pertains to business activities but does not convey the essential nature of the questions needed for strategic planning.
  • monetary: 'Monetary' relates to money and finance, which is not relevant to the type of questions being discussed.
Correct answer: compete

Explanation: The verb 'compete' is the most appropriate choice as it directly addresses the question of how a business will position itself against others in the market. It fits grammatically and contextually within the sentence structure.

Meaning: 'Compete' means to strive against others to achieve a goal, particularly in a market context, indicating how a business intends to operate.

Wrong options:

  • survive: 'Survive' implies merely continuing to exist, which does not capture the proactive nature of business strategy as well as 'compete.'
  • engage: 'Engage' suggests interaction but does not specifically address the competitive aspect of business strategy.
  • stay: 'Stay' lacks the action-oriented focus needed in this context, as it does not convey a strategy for market positioning.
  • brilliant: 'Brilliant' is an adjective that does not fit grammatically as a verb in this context.
Correct answer: known

Explanation: The word 'known' fits well as it indicates that new ideas have become recognized and accepted in the business community. It aligns with the context of evolving business strategies and their acceptance.

Meaning: 'Known' means recognized or acknowledged, indicating that these ideas have gained visibility and acceptance in the business world.

Wrong options:

  • appraised: 'Appraised' means evaluated or assessed, which does not fit the context of ideas becoming widely recognized.
  • rewarded: 'Rewarded' implies receiving a benefit or recognition, which does not accurately describe the process of ideas becoming accepted.
  • awarded: 'Awarded' suggests giving a prize or honor, which is not relevant to the context of ideas being accepted.
  • acknowledged: 'Acknowledged' is similar to 'known' but does not convey the same level of widespread recognition.
Correct answer: irrespective

Explanation: The word 'irrespective' is appropriate as it indicates that the definitions of strategy apply regardless of the time context. It fits grammatically and contextually within the sentence.

Meaning: 'Irrespective' means without regard to something, indicating that the definitions of strategy hold true regardless of the time period.

Wrong options:

  • inspite: 'Inspite' is not a standard word; the correct form is 'in spite of,' which does not fit grammatically in this context.
  • despite: 'Despite' suggests a contrast but does not convey the same meaning as 'irrespective' in this context.
  • mindful: 'Mindful' implies being aware or conscious, which does not fit the context of the definitions being applicable regardless of time.
  • aware: 'Aware' indicates knowledge but does not convey the same sense of unconditional applicability as 'irrespective.'

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