In an attempt to stop declining profitability, ICI, a British chemical company, deleted petrochemical products from its production and concentrated on specialty chemicals, a less capital-intensive, less cyclical business. What type of a grand strategy was ICI using?
A) retrenchment
B) stability
C) growth
D) maturity
E) cutback

Question

Quizplus · Accepted Answer

Retrenchment is defined as a strategy that focuses on turning around very poor company performance by shrinking the size or scope of the business. Here, ICI is downscaling from a diversified chemical company to a specialized chemical company.

In an Attempt to Stop Declining Profitability, ICI, a British