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.
The nature of management in ABC Retailers is influenced by:
Option 1: Internal factors only
Option 2: External factors only
Option 3: Both internal and external factors
Option 4: -
Correct Answer: Both internal and external factors
Solution : The correct answer is (c) Both internal and external factors
Management in any organization, including ABC Retailers, is influenced by a combination of both internal and external factors. Internal factors can include the organization's structure, culture, resources, and internal strengths and weaknesses. External factors can encompass the competitive environment, economic conditions, legal and regulatory factors, technological advancements, and changes in the market or industry. Effective management requires consideration of both internal and external factors to make informed decisions and adapt to the changing business environment.
