A __________ is used where changes in the scale and/or mix of operations are implemented in order to gain both short-term efficiencies and time to prepare new strategies for improving future performance.

Question

Quizplus · Accepted Answer

A renewal strategy is used in situations where changes in operations are implemented in order to gain short-term efficiencies while preparing for future improvements. This can involve a range of tactics, such as restructuring, cost-cutting, and process improvements, and is typically undertaken in response to changes in the market or competitive environment. The other strategies listed (related diversification, unrelated diversification, backward integration, and forward integration) are focused on different objectives, such as expanding into new markets or acquiring new capabilities.

A __________ Is Used Where Changes in the Scale And/or