Which strategy is most appropriate as a temporary strategy to enable a corporation to consolidate its resources after prolonged rapid growth in an industry?

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26-08-2022
Business

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Which strategy is most appropriate as a temporary strategy to enable a corporation to consolidate its resources after prolonged rapid growth in an industry?

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anjithaka anjithaka · Answer 1 · 2022-09-03T11:03:01+02:00

When a firm uses a no-change approach to try to hold onto its current position in the market, it is also known as a stability or consolidation strategy.

What is the most appropriate strategy to enable a corporation to consolidate its resources after prolonged rapid growth in an industry?

When a firm uses a no-change approach to try to hold onto its current position in the market, it is also known as a stability or consolidation strategy. It does not imply inaction, but trying to stay still is a tactic in and of itself. This implies that the company is not actively exploring any new initiatives.

Here, the company does the least amount of effort possible to preserve its current clientele. It denotes making an effort to keep things as they are while occasionally being employed as a protective tactic.

In the situation mentioned in the question where the organization is trying to consolidate its resources after prolonged rapid growth in an industry now facing an uncertain future, the no-change strategy can be called a holding strategy. Here the organization aims to rest, digest and consolidate after rapid growth or it can also be applied after a turbulent event before continuing with a growth strategy.

The holding pattern also helps the organization in an uncertain or hostile environment where stability or remaining with no change will give clarity on the future. Here the company is trying to hold its current market share, i.e. leaving it for natural incremental growth.

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