Lecture 2

Question 1

When to use retrenchment strategy

Answer 1

1. Downsizing
2. Business sale
3. Shutdown of business

Question 2

When to use stability strategy

Answer 2

When company wants to maintain status quo

Question 3

When to use growth strategy

Answer 3

1. Pursue internally generated growth
2. During acquisitions, mergers or joint ventures

Question 4

Downsizing

Answer 4

1. Determine which positions no longer necessary
2. Identify which employees affected by layoffs or redundancy

Question 5

Business sale

Answer 5

1. Identify workforce associated with those divisions
2. Manage transition of employees to new owner or help with redeployment

Question 6

Business shutdown

Answer 6

1. Manage employee termination
2. Provide support services like severance package/outplacement
3. Retrain or reskill employees

Question 7

Maintain status quo

Answer 7

1. Retain and engage existing employees
2. Enhance employee satisfaction
3. Succession planning and develop internal talent

Question 8

Internal growth

Answer 8

1. Forecast future workforce needs
2. Identify necessary skills & expertise
3. Hire additional staff / develop existing employees

Question 9

Acquisition/merger

Answer 9

1. Integrate workforce from diff org
2. Align culture
3. Identify redundancies and opportunities for redeployment
4. Change management strategies