The strategic management process involves the establishment of a company's the mission and vision, its grand strategy and the formulation of its strategic plans and control.
- A company that gradually phases out product lines or liquidates its inventory is pursuing a defensive strategy.
- A defensive strategy is also called retrenchment strategy. its is a strategy that involves reducing in the organization's efforts.
- Example: It reduces costs when a company tightens expenses such as It can sell off (liquidate) assets—land, buildings, inventories, and the like.
Defensive strategy helps organizations to gradually reduce cost and phase out product lines or services. .
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