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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 formulating long-term strategic plans for the organization?

Option 1: Top management
    

Option 2: Middle-level management

 

Option 3: Lower-level management

Option 4: -


Team Careers360 16th Jan, 2024
Answer (1)
Team Careers360 23rd Jan, 2024

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 long-term plans and policies that guide the overall direction of the entire organization. Developing long-term strategic plans is a primary function of top management. Lower-level management focuses on more operational and day-to-day activities, while middle-level management is often involved in translating top-level strategies into specific departmental or unit plans.

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