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 best described as:
Option 1: Static and unchanging
Option 2: Rigid and inflexible
Option 3: Dynamic and adaptive
Option 4: Autonomous and independent
Correct Answer: Dynamic and adaptive
Solution : The correct answer is (c) Dynamic and adaptive
Management in modern organizations, such as ABC Retailers, is dynamic and adaptive because it needs to respond to changing market conditions, consumer preferences, technological advancements, and other external factors. In a rapidly evolving business environment, successful management involves the ability to adapt, make strategic adjustments, and be responsive to new challenges and opportunities. Rigid or static management approaches are often less effective in today's competitive and constantly changing markets.
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