Question : Case Study: XYZ Manufacturing Company
XYZ Manufacturing Company is a well-established firm that produces consumer electronics. The management is planning to launch a new line of smart home appliances. Question:
What is the first step XYZ Manufacturing Company should take in planning the new line of smart home appliances?
Option 1: Setting objectives and goals
Option 2: Identifying potential risks
Option 3: Allocating resources
Option 4: Evaluating alternatives
Correct Answer: Evaluating alternatives
Solution : The correct answer is (d) Evaluating alternatives
Before setting objectives and goals, identifying potential risks, or allocating resources, it's essential for XYZ Manufacturing Company to assess and evaluate different alternatives or options for the new line of smart home appliances. This involves considering various factors such as product features, market demand, competitive landscape, and potential challenges and opportunities associated with each alternative. Once the company has a clear understanding of the available options, it can then proceed to set objectives, identify risks, and allocate resources based on the chosen alternative.
What should XYZ Manufacturing Company do after setting objectives and goals in the planning process for the new line of smart home appliances?
Option 1: Identifying potential risks
Option 2: Allocating resources
Option 3: Developing premises
XYZ Manufacturing Company is a well-established firm that produces consumer electronics. The management is planning to launch a new line of smart home appliances. Question: The type of plan that XYZ Manufacturing Company should develop to introduce the new line of smart home appliances is:
Option 1: Tactical plan
Option 2: Strategic plan
Option 3: Contingency plan
Option 4: Operational plan
Question : Case Study: XYZ Software Solutions
XYZ Software Solutions is a startup that provides innovative software solutions. The company is planning to launch a new product and wants to ensure a successful launch. Question:
The step XYZ Software Solutions should take to identify potential risks and uncertainties in the new product launch is:
Option 1: Evaluating alternatives
Option 2: Setting objectives and goals
Option 3: Identifying potential risks
Option 4: Allocating resources
XYZ Software Solutions is a startup that provides innovative software solutions. The company is planning to launch a new product and wants to ensure a successful launch.
XYZ Manufacturing Company is a well-established firm that produces consumer electronics. They have been facing increased competition and declining sales in recent years. The management is looking for ways to revamp their production processes and regain market share.
Question:
What is the first step XYZ Manufacturing Company should take in the planning process to improve their production processes?
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