Failure (Business)
Business ceasing operations; unable to continue.
Real World
Woolworths collapsed in 2008 after failing to adapt its product range and pricing to competition from supermarkets and online retailers, ultimately unable to service its debt — a lesson in market responsiveness.
Exam Focus
When analysing causes of failure, chain the argument: e.g. poor planning → cash flow crisis → inability to pay creditors → closure.
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