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: -
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.
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
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