With A(n)_____ Strategy, a Company Attempts to Focus on What

question 90

Multiple Choice

With a(n) _____ strategy, a company attempts to focus on what it does best within its established markets and can be thought of as "sticking to its knitting."

• A)concentration
• B)retrenchment
• C)benchmarking
• D)divestment
• E)downsizing

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Definitions:

Maximin Criterion

A decision-making rule used for minimizing the worst-case scenario loss.

Uncertainty

The state of having limited knowledge where it is impossible to exactly describe the existing state, a future outcome, or more than one possible outcome.

EMV

stands for Expected Monetary Value, a concept in risk management used to calculate the average outcome of future events and their financial impacts.