Question

What is the name of the strategy that involves selling off land and buildings to raise needed​ cash, pruning product​ lines,

closing marginal​ businesses,
closing obsolete​ factories,
automating​ processes,
reducing the number of​ employees,
and instituting expense control​ systems?

Answer 1

Retrenchment Strategy

Step-by-step explanation:

Retrenchment Strategy

It is the strategy adopted by an organization , when the aim of the organization is to reduce one or more business operations in order to cut expenses and to attain a stable financial position .

Retrenchment Strategy can also be defined as the strategy which an organisation follows when it decides to eliminates the activities via reduction in the business operations , from the perspective of the group of customer , the functions of the customer and technology alternative , which can be individual or collective .

There are three types of Retrenchment Strategy -

Liquidation , Divestment , Turnaround .