Correct Answer: By providing benefits and exemptions
   

Solution : The correct answer is (b) By providing benefits and exemptions

The Startup India initiative is designed to provide various benefits and exemptions to support startups. By applying for and participating in this initiative, the tech startup likely gained access to specific advantages, which could include tax exemptions, regulatory benefits, and other support mechanisms aimed at fostering the growth of startups in the country.

Correct Answer: Provide cutting-edge technology solutions
  

Solution : The correct answer is (b) Provide cutting-edge technology solutions

The primary focus of XYZ Tech Solutions, as a software development company known for innovative products, is likely to be on providing cutting-edge technology solutions. While maximizing profits is an important consideration for many businesses, it often goes hand in hand with delivering cutting-edge solutions. Offering excellent customer support is essential but typically supports the broader objective of providing innovative technology solutions. Expanding into new markets could be a strategic goal that aligns with the primary objective but may not be the primary objective itself.

Correct Answer: Top management
   

Solution : The correct answer is (a) Top management

Top management, also known as senior management or executive management, is responsible for making strategic decisions, setting organizational goals, and formulating long-term plans and policies that guide the overall direction of the entire organization. Developing long-term strategic plans is a primary function of top management. Middle-level management is often involved in translating top-level strategies into specific departmental or unit plans, while lower-level management focuses on more operational and day-to-day activities.

Correct Answer: Selecting an alternative
 

Solution : The correct answer is (a). Selecting an alternative

Once various courses of action have been identified, the next step is to evaluate and select the most appropriate alternative that aligns with the organization's objectives and goals. This involves considering factors such as feasibility, cost-effectiveness, and potential risks associated with each option. Once an alternative is selected, the organization can then proceed with developing premises, setting objectives and goals, and allocating resources accordingly.

Correct Answer: Team spirit

Solution : The correct answer is (d) Team spirit

Team spirit in management principles emphasizes fostering a collaborative and cooperative work environment where employees work together as a team to achieve common goals. It promotes unity, mutual support, and synergy among team members. This principle encourages employees to work together and share their expertise and efforts to enhance productivity and achieve organizational objectives.

Correct Answer: Identifying potential risks

Solution : The correct answer is (c) Identifying potential risks

Identifying potential risks is a crucial step in the risk management process for any project, including a new product launch. This involves systematically analyzing the project to recognize any factors or events that may pose a threat to its success. By identifying potential risks early in the planning phase, XYZ Software Solutions can take proactive measures to mitigate or manage these risks effectively. Identifying potential risks involves a systematic assessment of the project to uncover any factors that could impact its success negatively.

Correct Answer: Initiative

Solution : The correct answer is (d) Initiative

Initiative in management principles encourages employees to take the initiative, be proactive, and take on responsibilities beyond their basic job requirements. It involves empowering employees to make decisions, propose new ideas, and contribute to the organization's success. This principle reflects a culture of encouraging innovation and independent thinking among employees.

Correct Answer: Guiding and motivating employees to achieve organizational goals
   

Solution : The correct answer is (b) Guiding and motivating employees to achieve organizational goals

Leading is the management function that focuses on inspiring, guiding, and motivating employees to work toward the achievement of the organization's objectives. It involves creating a positive work environment, communicating a clear vision, and supporting and developing employees to help them reach their full potential. While elements of the other options are also important aspects of management, they are more related to the controlling, planning, and organizing functions of management. Leading specifically focuses on influencing and motivating people within the organization to contribute to its success.

Correct Answer: Openness

Solution : The correct answer is (d) Openness

Openness in management principles emphasizes transparency, clear communication, and an open-door policy that encourages employees to share their ideas, concerns, and feedback with the management. It promotes a culture of honesty, trust, and free exchange of information within the organization, which can lead to improved employee engagement and collaboration.

Correct Answer: By providing benefits and exemptions
   

Solution : The correct answer is (b) By providing benefits and exemptions

The Startup India initiative is designed to provide various benefits and exemptions to support startups. By applying for and participating in this initiative, the tech startup likely gained access to specific advantages, which could include tax exemptions, regulatory benefits, and other support mechanisms aimed at fostering the growth of startups in the country.