Question : Case Study: ABC Retailers
ABC Retailers is a chain of stores specializing in fashion apparel. They have a hierarchical management structure with top management, middle-level management, and lower-level management. The company aims to provide a wide range of trendy clothing options and outstanding customer service.
Which level of management in ABC Retailers is responsible for developing strategic plans and policies for the entire organization?
Option 1: Top management
Option 2: Middle-level management
Option 3: Lower-level management
Option 4: -
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 policies that guide the overall direction of the entire organization. They are at the highest level of the organizational hierarchy and have the most significant influence on the company's long-term success. Developing strategic plans and policies is a primary function of top management.
