Question : Case Study: ABC Retail Chain (Continued)
In the planning process for expanding its product range, what should ABC Retail Chain do after identifying various courses of action?
Option 1: Evaluating alternative courses of action
Option 2: Identifying potential risks
Option 3: Setting objectives and goals
Option 4: Allocating resources
Correct Answer:
Evaluating alternative courses of action
Solution : The correct answer is (a). Evaluating alternative courses of action
After identifying different courses of action, it is essential for ABC Retail Chain to thoroughly evaluate each option. This involves assessing the potential benefits, risks, feasibility, and implications associated with each course of action. By conducting a comprehensive evaluation, the retail chain can make an informed decision on the most suitable and effective approach for expanding its product range. This step is crucial for ensuring that the chosen expansion strategy aligns with the company's objectives and maximizes the chances of success.
