Explain Profit Sharing

question 20

Essay

Explain profit sharing.

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Definitions:

Redress

The act of correcting an injustice or receiving compensation for wrongs or injuries.

Harvest Strategy

A business approach focused on extracting maximum profits from a product, division, or business segment with minimal investment.

Retrenchment Strategy

A strategy used by businesses to reduce their size or operations in response to economic challenges or poor performance in order to become more financially stable.

Restructure

The process of changing the organizational, ownership, or operational structure of a company to make it more profitable, efficient, or to adapt to new conditions.