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 management function of planning in ABC Retailers involves:
Option 1: Allocating resources to different departments
Option 2: Guiding and motivating employees
Option 3: Setting organizational goals and strategies
Option 4: Monitoring employee performance
Correct Answer: Setting organizational goals and strategies
Solution : The correct answer is (c) Setting organizational goals and strategies
Planning involves defining the organization's goals and objectives, and determining the strategies and actions necessary to achieve them. In the context of a retail business like ABC Retailers, this would include setting goals related to providing a wide range of trendy clothing options and outstanding customer service, and then creating strategies to realize those goals.
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