What Does "Retrenchment" Mean in Terms of Business Strategy

question 168

Multiple Choice

What does "retrenchment" mean in terms of business strategy?

• A) A change in the mission for the organization
• B) Ceasing to do business
• C) Cutting back some operations
• D) An increase in the market share for two or more products
• E) Growth at a modest rate

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Definitions:

Substitution Effect

The economic principle that as prices rise or incomes decrease, consumers will replace more expensive items with less costly alternatives.

Hamburger

A popular food item consisting of a cooked patty of ground meat, typically beef, placed inside a sliced bread roll or bun.

Substitution Effect

The economic principle that as prices rise or incomes decrease, consumers replace more expensive items with less costly alternatives.

Dr. Pepper

A popular brand of carbonated soft drink, recognized for its unique blend of 23 flavors.