A ________ strategy is used to deal with minor performance problems. It helps an organization stabilize operations, revitalize organizational resources and capabilities, and prepare to compete once again.
A) turnaround
B) stability
C) renewal
D) retrenchment
Question 2
During the Great Recession, Malcolm's Racing Bikes lost a considerable amount of its business because customers could no longer afford the expensive models in his shop. He was very near bankruptcy.
Malcolm began carrying a line of less expensive bikes to appeal to recreational bicyclists and families and also opened a repair service. Malcolm used a ________ strategy.
A) retrenchment
B) diversification
C) turnaround
D) reorganization
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