With a ________ strategy,a company attempts to focus on what it does best within its established markets and can be thought of as "sticking to its knitting."

Question

Quizplus · Accepted Answer

The description of "sticking to its knitting" implies that the company is focusing on its core competencies and established markets, which is the strategy of concentration. Retrenchment involves downsizing or reducing operations, benchmarking involves comparing performance to other companies, and divestment involves selling off business units or assets. Downsizing is also different from concentration in that downsizing does not necessarily involve focusing on core competencies and established markets.

With a ________ Strategy,a Company Attempts to Focus on What