Correct Answer: Mergers and acquisitions

Solution : The correct answer is (c) Mergers and acquisitions

Strategic alliances often involve collaborations or partnerships between companies to achieve specific business objectives, such as expanding into new markets. Mergers and acquisitions (M&A) are the appropriate market activities in this scenario. M&A can take the form of partnerships, acquisitions, or joint ventures, all of which align with the concept of strategic alliances for international expansion.

Correct Answer: Planning Commission 

Solution : The correct option is the Planning Commission.

The Planning Commission is not a constitutional body, whereas the Election Commission (Article 324), Finance Commission (Article 280), and Public Service Commission (Articles 315–323) are.

The Planning Commission is a non-constitutional authority in charge of developing and executing five-year economic development plans in India. In 2015, It is known by NITI Aayog as of now.

Correct Answer: Setting objectives and goals
  

Solution : The correct answer is (a) Setting objectives and goals

Setting objectives and goals is typically the initial phase in the planning process. This step involves clearly defining what the company aims to achieve and outlining the desired outcomes. By establishing specific objectives, XYZ Manufacturing Company can provide direction for the subsequent planning steps, such as identifying potential risks, allocating resources, and evaluating alternatives. Clear goals will help guide the development of strategies and action plans to revamp their production processes and regain market share.

Correct Answer: Evaluating alternative courses of action
    

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

Evaluating alternative courses of action is often a crucial step, but not necessarily the immediate next one. Depending on the complexity of the expansion plan and the level of detail already explored in the identified courses of action. Evaluating alternative courses of action, if they have well-defined objectives and sufficient information to proceed.

Ultimately, the best path depends on the specific context and ABC's current stage in their product range expansion planning process.

Correct Answer: Preference shares pay higher dividends
 

Solution : The correct answer is (a) Preference shares pay higher dividends

Preference shares typically have fixed dividend rates, and shareholders holding preference shares are entitled to receive these fixed dividends before any dividends are distributed to equity shareholders. This characteristic often makes preference share dividends appear higher or more stable compared to the variable dividends associated with equity shares.

Correct Answer: Evaluating alternative courses of action
 

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

This involves assessing the feasibility, advantages, disadvantages, and potential outcomes associated with each course of action. By conducting a comprehensive evaluation, the company can make an informed decision on the most suitable and effective approach for its expansion. This step is crucial for ensuring that the chosen expansion strategy aligns with the company's objectives and maximizes the chances of success.

Correct Answer: Achieving long-term sustainability goals
  

Solution : The correct answer is (b) Achieving long-term sustainability goals

Financial planning with a focus on sustainability aims to ensure that UVW Industries can allocate financial resources strategically to achieve their long-term sustainability objectives. This involves budgeting, forecasting, and managing funds in a way that supports sustainable practices, eco-friendly projects, and initiatives that contribute to the company's environmental and social responsibility goals. While financial planning does involve managing operational expenses and meeting financial obligations, the overarching objective in this context is to promote sustainability and responsible business practices for the long-term benefit of the company and the environment.

Correct Answer: Extends throughout the organisation 

Solution : Planning is required at all levels of the management and in all types of organisations. It is not a function restricted to top level managers only but planning is done by managers at every level. That why pervasiveness of planning indicates that planning extends throughout the organisation.
Hence, option 2 is the correct answer.

Correct Answer: Both incorrect.

Solution : The correct answer is  (b) Both incorrect.

Statement 1 is incorrect. Strategic control is not primarily concerned with short-term planning; it is focused on the long-term strategic direction of an organization. It involves monitoring and adjusting an organization's strategic plans to ensure they align with long-term objectives.

Statement 2 is incorrect. Strategic control does not focus on day-to-day operations. It is more concerned with high-level, long-term strategic decisions and their implementation, rather than the detailed evaluation of day-to-day activities.

Correct Answer: First Five-Year Plan

Solution : The correct answer is (a) First Five-Year Plan.

The First Five-Year Plan, covering the period from 1951 to 1956, marked the beginning of economic planning in India. It was launched by the Indian government under the leadership of Prime Minister Jawaharlal Nehru with the objective of rapid industrialization and economic development. The plan focused on agriculture, irrigation, power, and transport infrastructure, with an emphasis on reducing poverty and increasing employment opportunities. The First Five-Year Plan laid the foundation for subsequent plans and the process of planned economic development in India.