Correct Answer: Identifying potential risks

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

Identifying potential risks is a crucial step in risk management and planning. This involves assessing the various factors that could impact the success of the new product launch. By recognizing potential risks, XYZ Software Solutions can develop strategies to mitigate or manage these challenges effectively.

Correct Answer: Middle-level management

Solution : The correct answer is (b) Middle-level management

Middle-level management plays a crucial role in coordinating and overseeing the work of project teams and ensuring that project plans are executed effectively. They bridge the gap between top management's strategic decisions and lower-level management's implementation of those plans. Middle-level managers are often responsible for translating top-level strategies into specific project plans, assigning tasks, and monitoring project progress. 

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: Trade unions and leftist parties

Solution :  Trade unions and leftist parties were among the groups that opposed the New Economic Policy, as they were concerned about its impact on workers' rights and the influence of foreign companies.

Correct Answer: Personal objective

Solution : The correct answer is (d) Personal objective

Personal objectives in the context of management relate to the individual goals and aspirations of employees, which may include career growth, skill development, job satisfaction, and personal achievements. While economic objectives focus on financial goals, social objectives relate to fulfilling social responsibilities, and organizational objectives pertain to the goals of the organization as a whole, personal objectives are specific to the desires and ambitions of individual employees.

Correct Answer: Evaluating alternative courses of action
 

Solution : The correct answer is (a). Evaluating alternative courses of action

This evaluation process may involve considering factors such as feasibility, cost-effectiveness, and potential risks associated with each alternative. After a thorough evaluation, the company can then make an informed decision on which course of action to pursue. Subsequently, developing premises, setting objectives and goals, and allocating resources can be part of the further planning process.

Correct Answer: Middle-level management

Solution : The correct answer is (b) Middle-level management

Middle-level management is typically responsible for interpreting and implementing the strategic plans and policies formulated by top management. They act as a bridge between top management and lower-level management, ensuring that the strategies and policies are translated into specific departmental or unit-level plans and actions. While lower-level management also plays a role in implementing plans, they do so with a more operational and day-to-day focus. Top management formulates the overarching strategies and policies for the entire organization but relies on middle-level management to ensure these are effectively carried out.

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 company known for providing innovative technology solutions, is likely to be on delivering cutting-edge technology solutions to its customers. 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: Allocating resources and assigning tasks
 

Solution : The correct answer is (b) Allocating resources and assigning tasks

Organizing is the management function that entails arranging resources, such as human resources, finances, and physical assets, and assigning tasks and responsibilities to ensure that the organization's objectives are achieved efficiently. In the context of a software development company like XYZ Tech Solutions, organizing would involve allocating resources, forming project teams, and assigning tasks to employees to deliver innovative technology solutions and support customers effectively.