Examlex
Instructions: Please define the following key terms.Show Who? What? Where? When? Why Important?
-relativism
Retrenchment
A strategic reduction of business activities or workforce by a company to cut expenses and stabilize financially.
Turnaround Strategy
A set of actions taken by a company in an attempt to reverse a period of decline or poor performance.
Outplacement Counseling
Support services provided by organizations to help former employees transition to new jobs, offering career guidance, resume advice, and interview preparation.
Differentiation Strategy
A business approach where a company seeks to be unique in its industry along some dimensions valued by customers.
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