BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -Solution: A retrenchment strategy addresses organizational weaknesses, helps stabilize operations and revitalizes organizational resources and capabilities. This strategy is often used in order to cut expenses with the goal of becoming a more financial stable business.

Detailed explanation-2: -A retrenchment strategy addresses organizational weaknesses, helps stabilize operations, and revitalizes organizational resources and capabilities.

Detailed explanation-3: -The retrenchment strategy is a short-run renewal strategy designed to address organizational weaknesses that are leading to performance declines.

Detailed explanation-4: -The business concern must formulate a suitable strategy to exploit the opportunities or manage threats depending up on its strengths or weaknesses. iii. Analysis of the Industry: The third step in the formulation of a strategy is an analysis of the industry.

Detailed explanation-5: -A retrenchment strategy is a short-run renewal strategy that helps an organization stabilize operations, revitalize organizational resources and capabilities, and prepare to compete once again. A turnaround strategy is a type of renewal strategy used when an organization is in serious trouble.