The More Specialized That a Business Is, the More Likely

question 11

Multiple Choice

The more specialized that a business is, the more likely it is to:

• A) make money.
• B) require more customers.
• C) need a large inventory.
• D) go bankrupt.

---

Definitions:

Strategic Planning

The process of defining an organization's direction and making decisions on allocating its resources to pursue this strategy.

Human Resource Planning

Involves forecasting the organization's future human resource requirements and developing plans to meet those needs.

Workforce Reduction

Strategies and practices aimed at decreasing the number of employees within an organization through layoffs, attrition, or retirements.

Senior Management

Top-level executives responsible for the strategic direction and overall operations of an organization.