Blue ocean strategy is a strategy that challenges the firms to foresee beyond competition by creating new uncontested market space i.e. Blue Ocean that makes the current competition irrelevant. It is about growing demand and breaking away from the competition. Learn about:- 1. Meaning & Need of Blue Ocean Strategy 2. Foundation 3. Characteristics 4. Principles 5. Analytical Tools & [...]
In simple terms, a retrenchment strategy involves the abandonment of those products or services, which are no longer profitable for the organization. It also includes withdrawal of the business from those markets where even sustenance is difficult. For example, a corporate hospital may decide to focus only on specialized treatments, and thus, realize higher revenues. Besides, a retrenchment strategy also [...]
100+ Multiple Choice Questions and Answers on Strategic Management (MCQs). Strategic Management MCQ: Multiple Choice Questions and Answers on Strategic Management 1. The fundamental purpose for the existence of any organization is described by its a. policies b. mission c. procedures d. strategy Ans. b 2. The fundamental purpose of an organization's mission statement is to a. create a good [...]