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Exit Strategy

by System Administrator - Friday, 19 December 2014, 5:40 PM
 

Exit Strategy

Posted by: Margaret Rouse

An exit strategy is a planned approach to terminating a situation in a way that will maximize benefit and/or minimize damage.

The idea of having a strategic approach can be applied to exiting any type of situation but the term is most often used in a business context in reference to partnerships, investments or jobs.

Understanding the most graceful exit strategy for establishing partnerships should be part of due diligence and vetting potential suppliers and service providers. In cloud services, for example, termination or early-withdrawal fees, cancellation notification and data extraction are just a few of the factors to be considered.

An entrepreneur's plan for exiting a startup might include selling the company at a profit or running the business as long as the return on investment (ROI) is attractive and simply terminating it when that ceases to be the case. In the stock market, an exit strategy might include a stop-loss order that instigates a sale when the value of a stock drops below a specified price.

In an employment context, exit strategies are becoming increasingly important not just for corporate executives but for all employees. People change jobs much more frequently than they did in the past, whether voluntarily or involuntarily through firing, downsizing oroutsourcing. An employee's exit strategy might include negotiating a severance agreement,, updating a resume, maintaining lists of potentially helpful contacts and saving enough money to cover a period of unemployment.

No matter what the context, creating an exit strategy should be an important part of anycontingency plan and risk management strategy.

See alsosupplier risk management

Related Terms

DEFINITIONS

  • Chief Risk Officer (CRO)

     - The chief risk officer (CRO) is the corporate executive tasked with assessing and mitigating significant competitive, regulatory and technological risks across the enterprise. (SearchCompliance.com)

  • micromanagement

     - Micromanagement is an approach to overseeing staff that is characterized by a need to control the actions of employees beyond what is useful or effective. (WhatIs.com)

  • third party

     - A third party is an entity that is involved in some way in an interaction that is primarily between two other entities. The third party may or may not be officially a part of the transaction betwee... (WhatIs.com)

GLOSSARIES

  • Project management

     - Terms related to project management, including definitions about project management methodologies and tools.

  • Internet applications

     - This WhatIs.com glossary contains terms related to Internet applications, including definitions about Software as a Service (SaaS) delivery models and words and phrases about web sites, e-commerce ...

Link: http://whatis.techtarget.com

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Extension Strategy

by System Administrator - Monday, 10 August 2015, 9:19 PM
 

Extension Strategy

Posted by: Margaret Rouse

An extension strategy is a practice used to increase the market share for a given product or service and thus keep it in the maturity phase of the marketing product lifecycle rather than going into decline. 

Extension strategies include rebranding, price discounting and seeking new markets. Rebranding is the creation of a new look and feel for an established product in order to differentiate the product from its competitors. At its simplest, rebranding may consist of creating updated packaging to change the perception of the product. 

More complex rebranding efforts can include new advertising strategies, extensive public relations (PR) and social media marketing campaigns.

Related Terms

Definitions

Glossaries

  • Business terms

    - Terms related to business, including definitions about project management and words and phrases about human resources, finance and vertical industries.

  • Internet applications

    - This WhatIs.com glossary contains terms related to Internet applications, including definitions about Software as a Service (SaaS) delivery models and words and phrases about web sites, e-commerce ...

Link: http://whatis.techtarget.com

 


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