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Firms often use the downscoping and downsizing strategies simultaneously as did Citigroup in its restructuring
(Chapter 7 Strategic Focus).
Standard of Living
The degree of prosperity, ease, consumer goods, and basic needs accessible to a specific social class or location.
GDP
Gross Domestic Product, a monetary measure of the market value of all final goods and services produced in a country during a specific time period.
Labor Productivity Growth
An increase in the amount of goods and services produced per hour by the workforce.
Great Depression
A severe worldwide economic downturn in the 1930s, marked by high unemployment and financial instability.
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