What type of strategy is a renewal strategy for times when the organization's performance problems are more critical?

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A renewal strategy is used when an organization's performance problems are more critical. Turnaround strategy is a type of renewal strategy where the organization focuses on improving overall performance by making major changes in its operations, structure, and culture to overcome the problems. It involves identifying the root cause of the problem, restructuring the organization, and introducing new strategies to turn the organization around. Retrenchment strategy involves cutting down on the organization's resources and activities to improve profitability, while differentiation strategy involves setting the organization apart from its competitors by offering unique products or services. Focus strategy involves targeting a specific niche market and concentrating resources to serve that market segment.

What Type of Strategy Is a Renewal Strategy for Times