You are the Chairman of a French FMCG company in India by the name of “French Shine”. You are operating in the “Soaps & Detergents” category & are facing tough rivals like HUL, Nirma & P&G. You have been operating in India since 2016. During 2020, there has been a steady decline in your revenues & profitability. Your market share has also fallen from 6% to 2.5% during 2020. Your competitors are eating into your market share slowly & steadily during Covid-19 pandemic times. a. What turnaround strategies can you suggest to arrest the decline of revenues & profitability of your company? b. In your opinion, would it be considered appropriate to pursue a Strategic Alliance or a JV Strategy or should “French Shine” go it alone in India? State your response with appropriate justifications & reasons. What would be the advantages & disadvantages of such a strategy?
Answer Cost efficiency strategies- Cost efficiencies involve a varied range of actions aimed at fabricating quick wins for a company. The measures may advance a company’s cash flow or stabilize its finances before coming up with more complex strategies. Cost efficiency strategies are often employed first in any regaining strategy.
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