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Question
Biology
Posted 7 months ago
Define industrial sickness. Explain the different stages of industrial sickness with examples
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Answer from Sia
Posted 7 months ago
Answer
Industrial sickness refers to the decline in the overall health and productivity of an industrial company or sector.
Solution
a
Initial Symptoms: This stage is characterized by a decline in sales, profits, and productivity. Example: A textile company may start to see a decrease in orders due to changing fashion trends
b
Financial Crunch: The company begins to face liquidity issues and may delay salary payments. Example: The same textile company might delay payments to its suppliers due to reduced cash flow
c
Chronic Sickness: The company consistently underperforms, with potential for bankruptcy. Example: The textile company may file for bankruptcy after failing to adapt to market changes
Key Concept
Stages of industrial sickness include initial symptoms, financial crunch, and chronic sickness.
Explanation
These stages reflect the progressive decline in a company's performance and financial stability, often leading to its failure.
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