Firms Following A(n) _____ Strategy Shrink One or More of Their

question 58

Multiple Choice

Firms following a(n) _____ strategy shrink one or more of their business units.

• A) blue ocean
• B) diversification
• C) integration
• D) retrenchment
• E) disintermediation

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Definitions:

Economically Efficient

A situation in which resources are distributed in a manner that maximizes overall societal benefits.

Production Techniques

The methods and processes employed in the manufacturing of goods or provision of services, often aimed at improving efficiency and productivity.

Labor and Capital

The primary factors of production where "labor" refers to workforce efforts and "capital" denotes tools, machinery, and buildings used in production.

Creative Destruction

A process in which new inventions and technologies create new industries and ways of doing things, leading to the demise of older industries and practices.