The Practice of Eliminating Parts of Organizations That Focus on Noncore

question 63

Multiple Choice

The practice of eliminating parts of organizations that focus on noncore sectors of the business and hiring outside forms to perform these functions instead is called:

• A) work restructuring.
• B) rightsizing.
• C) reducing.
• D) outsourcing.

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Definitions:

Unsecured Creditor

A creditor that does not have a claim to specific assets of the borrower as collateral for the debt, placing them at a higher risk of loss.

Secured Creditor

A secured creditor is an individual or entity that lends money with the protection of collateral, ensuring prioritized repayment in case of debtor default.

Re-perfect

The action of renewing or maintaining perfection of a security interest or lien to preserve its priority status against other claims.

Security Interest

A legal claim or right granted to a creditor or lender on a debtor's property as a security for a debt.