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Questions and Answers
What is the primary goal of the retrenchment strategy discussed in the text?
What is the primary goal of the retrenchment strategy discussed in the text?
- To expand the company's resources
- To promote overstaffing
- To increase competition within the industry
- To reduce waste and cut costs (correct)
In what situations might a company adopt a retrenchment strategy according to the text?
In what situations might a company adopt a retrenchment strategy according to the text?
- When facing tough competition (correct)
- In situations of excessive resource availability
- During periods of stable growth
- During a period of economic prosperity
What does a business turnaround strategy aim to achieve?
What does a business turnaround strategy aim to achieve?
- Encourage prolonged challenges
- Promote external interference
- Maintain financial distress
- Restore profitability and resilience (correct)
Which of the following correctly describes the role of an outside specialist in a turnaround strategy?
Which of the following correctly describes the role of an outside specialist in a turnaround strategy?
When might a retrenchment strategy be considered necessary for a company?
When might a retrenchment strategy be considered necessary for a company?
What is the key difference between retrenchment and business turnaround strategies discussed in the text?
What is the key difference between retrenchment and business turnaround strategies discussed in the text?
Which statement is true about the success of the retrenchment strategy as per the text?
Which statement is true about the success of the retrenchment strategy as per the text?
When should the outside specialist be employed in a business turnaround strategy?
When should the outside specialist be employed in a business turnaround strategy?
Which scenario makes the adoption of the retrenchment strategy necessary according to the text?
Which scenario makes the adoption of the retrenchment strategy necessary according to the text?
What would primarily motivate a company to implement a turnaround strategy over retrenchment?
What would primarily motivate a company to implement a turnaround strategy over retrenchment?
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