retrenchment strategy
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Imagine that you are a CEO for a large business. Your strategic planning team has just decided to pursue a retrenchment strategy. Describe some of the challenges your organization might face in implementing this strategy.
In summary, you will submit one file in MS Word, which should be 1 page in length.
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Solution Summary
Imagine that you are a CEO for a large business. Your strategic planning team has just decided to pursue a retrenchment strategy. Describe some of the challenges your organization might face in implementing this strategy.
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One of the major challenges that organization would face while pursuing retrenchment strategy is loss of goodwill and dignity of the firm in the industry or marketplace. Retrenchment is often viewed as a negative signal for the company from the perspective of various stakeholders like customers, vendors/suppliers, investors, creditors, etc. The company is expected to suffer a decline in goodwill and reputation which may affect future business of the organization. Retrenchment strategy gives an impression to external parties that firm is facing deep financial and other troubles.
Another major challenge of retrenchment strategy is loss of morale and motivation among the employees. Employees will see retrenchment as a threat to ...
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