Question : Case Study: XYZ Corporation
XYZ Corporation is a manufacturing company known for producing high-quality electronic devices. It is divided into three levels of management: top management, middle-level management, and lower-level management. The company's main objective is to expand its market reach and maintain a strong reputation for innovation and customer satisfaction.
XYZ Corporation's management team is known for its ability to adapt to changing market conditions and technology advancements. This demonstrates the management principle of:
Option 1: Unity of direction
Option 2: Scalar chain
Option 3: Initiative
Option 4: Flexibility
Correct Answer: Flexibility
Solution : The correct answer is (d) Flexibility
Flexibility in management means being open to change and adaptation in response to shifting circumstances and opportunities. It involves the willingness to adjust strategies, processes, and structures to remain competitive and responsive to the evolving business environment. This adaptability is a key factor in a company's success in dynamic and changing markets.
