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How Business Leaders Can Halt Business Decline

Why do organizations decline? What steps can organizational leaders take to halt decline and restore organizational growth? Provide an example of a company that is in decline and list several options the company can do to stop the decline.

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Organizations decline for a number of reasons but the two that come readily to mind are the economy and competition. The economy dictates what people have to spend on any type of products and influences mood and confidence. Competition can steer potential customers in a different direction as most people prefer the newest and freshest product or service. When prices are comparable for the same product or service and the competition is offering it cheaper, faster and better many businesses will begin to see a ...

Solution Summary

This solution provides a brief description of how business leaders can halt business decline and restore growth.