Contingency:  a possible plan that is different from the predicted or original plan. People make contingency plans in case the original plan does not work.  200

Differentiation:  doing something different from what others are doing.  199

Retrenchment:  spending less money or reducing activity in part of a business in order to save money. For example, one retrenchment strategy might be to sell buildings in order to save the cost of paying for them to operate.  199

Revamped:  changed something to improve it.  196

Ubiquitous:  everywhere.  210

Visioning process:  actions a company takes to plan for the future by imagining what it wants to become. In the visioning process, companies ask themselves many questions: What does the company want to achieve in the future? What kind of values does it want to have? What position does it want to have in the marketplace? What will customers need? What problems does it have now (inside and outside the company) that it needs to solve in the future? What problems and opportunities might there be in the future that will affect the company?  215