Simplifying, Shrinking, or Downsizing an Organization's Operations to Lower Operating

question 68

Multiple Choice

Simplifying, shrinking, or downsizing an organization's operations to lower operating costs is known as ________.

• A) restructuring
• B) outsourcing
• C) empowering
• D) innovating

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Definitions:

Contract Law

A body of law regulating the agreements entered into between two or more parties that are enforceable by law.

Condition Subsequent

A future event or circumstance that, upon occurring, will terminate obligations under a contract or legal agreement.

Obligations Cessation

Refers to the termination or discontinuation of legal duties or responsibilities, which can occur due to various reasons including the fulfillment, release, or expiration of the obligation.

Condition Precedent

A condition precedent is a contractual condition that must be fulfilled before a party's promise or obligation becomes binding.