A Strategy Whose Objective Is to Correct Major Problems in the Business

question 62

Multiple Choice

A strategy whose objective is to correct major problems in the business through radical changes to current operations is called a _________ strategy.

• A) going out of business
• B) growth
• C) status quo
• D) retrenchment

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Definitions:

Mortgage

A legal agreement by which a bank, credit union, or other lender lends money at interest in exchange for taking title of the borrower's property, with the condition that the conveyance of title becomes void upon the payment of the debt.

Default

The failure to fulfill a legal obligation, such as not making a scheduled payment on a loan.

Public Restrictions

Legal limitations placed by government entities on how properties can be used, often to designate zoning and land use.

Private Restrictions

Limitations imposed by private parties rather than governmental entities on the use of property, often found in deeds or homeowners' association rules.