During an economic recession, a small furniture manufacturer in Vietnam reduces its product range and cuts costs significantly. Which business objective is most likely being pursued?

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Question

During an economic recession, a small furniture manufacturer in Vietnam reduces its product range and cuts costs significantly. Which business objective is most likely being pursued?

Accepted Answer

Survival — Award 1 mark for recognising that during recession, firms often prioritise survival by cutting costs and reducing operations. A is incorrect — profit maximisation would involve expanding profitable activities. B is incorrect — growth involves expansion, not reduction. D is incorrect — increasing market share requires investment, not cost-cutting.

Answer

Increasing market share

Answer

Survival

Answer

Growth

Answer

Profit maximisation

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