GMS 200 Study Guide - Final Guide: Outsourcing, Specific Performance, Strategic Management

• School: Ryerson University
• Department: Global Management Studies
• Course: GMS 200
• Professor: Deborah De Lange

Document Summary

Growth strategies: seek an increase in size and the expansion of current operations in respect to such things as total sales, market shares, and operating locations. Stability strategies: try to maintain an existing course of action without major changes. Renewal strategies: try to solve problems and overcome weaknesses that are hurting: a retrenchment strategy is used to correct weaknesses by making changes to the performance of an organization. current ways of operating. Liquidation: is the most extreme form of retrenchment. Operations cease and assets are sold to paid creditors. Combination strategies: pursue one or more of the other strategies at the same time. An example of this is where a diversified firm may be retrenching in one major business while seeking growth in another. Concentration: growth occurs through expansion within the same business area. Vertical integration: where a business acquires suppliers (backward vertical integration) or distributions (forward vertical integration).