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 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
Option 4: Evaluating alternatives
Correct Answer: Allocating resources
Solution : The correct answer is ( b). Allocating resources
Once the goals are established, XYZ Manufacturing Company needs to allocate resources such as finances, manpower, technology, and time to support the initiatives outlined in the plan. Proper resource allocation is crucial for implementing the strategies and ensuring the successful introduction of the smart home appliances.
In summary, while all the options mentioned are important aspects of the planning process, allocating resources is the immediate and practical step that follows setting objectives and goals. It ensures that the necessary means are available to implement the plan effectively.
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.
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
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