Survival strategy

A plan or approach developed by a company to ensure its continued existence in the face of adverse circumstances or challenging conditions. Survival strategies are typically implemented in response to external factors that threaten a company’s viability, such as economic downturns, market disruption, or changes in consumer behavior. A survival strategy may involve measures such as cost-cutting, downsizing, restructuring, or diversification of products or markets. The ultimate goal of a survival strategy is to help the company weather the storm and emerge stronger and more resilient in the long term.

In business coaching, a survival strategy refers to actions taken by a company to overcome significant challenges or threats to its existence. For example, if a company is facing financial difficulties due to economic downturns or changing market conditions, a coach may help the company identify cost-cutting measures, such as reducing staff or consolidating operations. The coach may also help the company develop a contingency plan for future emergencies, such as a pandemic or natural disaster, to ensure its continued operation.

Survival strategy DEFINITION:

1. A plan or approach to ensure a business's continued viability and success during challenging or uncertain times. 2. Actions taken by a company to adapt to changing market conditions or competitive pressures in order to stay afloat.