INTRODUCTION TO ENTREPRENEURSHIP
DEFINITION OF ENTREPRENEURSHIP
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Retrenchment strategy
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Turnaround strategy
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Either A or B
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None of the above
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Detailed explanation-1: -The retrenchment strategy is a short-run renewal strategy designed to address organizational weaknesses that are leading to performance declines.
Detailed explanation-2: -A retrenchment strategy addresses organizational weaknesses, helps stabilize operations and revitalizes organizational resources and capabilities.
Detailed explanation-3: -What is Retrenchment Strategy ? Retrenchment is a corporate strategy that aims to decrease the scale of operations of the company. It can also involve cutting down the expenditure of the company so that it becomes financially viable.
Detailed explanation-4: -In addition to integrative, intensive, and diversification strategies, organizations also could pursue defensive strategies such as retrenchment, divestiture, or liquidation.
Detailed explanation-5: -Business strategy. A business strategy typically defines how a company intends to compete in the market. Operational strategy. Operational strategies focus on a company’s employees and management team. Transformational strategy. Functional strategy. 30-Sept-2022