Definition: The Retrenchment Strategy is adopted when an organization aims at reducing its one or more business operations with the view to cut expenses and reach to a more stable financial position. In other words, the strategy followed, when a firm decides to eliminate its activities through a considerable reduction in its business operations, in the perspective of … [Read more...] about Retrenchment Strategy
Business
Expansion Strategy
Definition: The Expansion Strategy is adopted by an organization when it attempts to achieve a high growth as compared to its past achievements. In other words, when a firm aims to grow considerably by broadening the scope of one of its business operations in the perspective of customer groups, customer functions and technology alternatives, either individually or jointly, then … [Read more...] about Expansion Strategy
Stability Strategy
Definition: The Stability Strategy is adopted when the organization attempts to maintain its current position and focuses only on the incremental improvement by merely changing one or more of its business operations in the perspective of customer groups, customer functions and technology alternatives, either individually or collectively. Generally, the stability strategy is … [Read more...] about Stability Strategy
Grand Strategies
Definition: The Grand Strategies are the corporate level strategies designed to identify the firm’s choice with respect to the direction it follows to accomplish its set objectives. Simply, it involves the decision of choosing the long term plans from the set of available alternatives. The Grand Strategies are also called as Master Strategies or Corporate Strategies. There … [Read more...] about Grand Strategies
Sampling Plan
Definition: A sampling plan provides an outline based on which the researcher performs research. Also, it provides a sketch required for ensuring that the data gathered is a representation of the defined target population. It is widely used in research studies. A researcher designs a sampling plan to prove that the data collected is valid and reliable for the concerned … [Read more...] about Sampling Plan
Company Secretary (CS)
Definition: Company Secretary (CS) refers to an individual who is a member of ICSI and possesses the requisite qualifications as stated under the law. His/Her position in the organizational hierarchy is pivotal. A CS occupies a high status and position in an organization. To be specific, his/her position is almost equivalent to managing director or general manager. The … [Read more...] about Company Secretary (CS)