Question : Case Study: ABC Retail Chain
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
Once the potential courses of action are identified, the next logical step is to evaluate and compare them to determine which one aligns best with the organization's objectives and goals. This evaluation process may involve considering factors such as feasibility, cost-effectiveness, potential risks, and the expected outcomes of each alternative. After this evaluation, the retail chain can make an informed decision on which course of action to pursue. Subsequently, setting objectives and goals, identifying potential risks, and allocating resources can be part of the further planning process.
