Correct Answer: Measurable and specific goals

Solution : The correct answer is (c) Measurable and specific goals

Effective planning involves setting clear, measurable, and specific goals. Measurable and specific goals provide a clear direction for the organization, facilitate decision-making, and allow for objective assessment of progress. In the context of improving production processes, having specific and measurable goals will help XYZ Manufacturing Company track success and ensure alignment with the overall organizational objectives.

Correct Answer: Effectiveness 
 

Solution : Reliance industries is effective as products gets completed on time. But it is not efficient as additional cost has been incurred to complete the target.
Hence Option A is correct.

Correct Answer: Method analysis

Solution : The correct answer is (c) Method analysis

Method analysis involves analyzing and simplifying work processes to improve efficiency and productivity. It aims to eliminate unnecessary steps, reduce complexity, and optimize the workflow to enhance overall performance.

In the context of ABC Pharmaceuticals streamlining its production process, the technique that focuses on analyzing and simplifying work processes is "method analysis." This technique aims to optimize the production process by identifying and eliminating inefficiencies and unnecessary steps, ultimately improving productivity and efficiency.

Correct Answer: Assertion is true, but the reason is false.

Solution : The correct answer is (c) Assertion is true, but the reason is false.

The assertion is true. Under the marketing concept, businesses do indeed focus on understanding and satisfying customer needs. It's a customer-centric approach where businesses strive to identify, anticipate, and fulfill customer needs and wants effectively.

The reason is false. The marketing concept does not disregard customer preferences and focus on mass production. Instead, it emphasizes aligning production with customer preferences, aiming to produce what the market demands rather than pushing products that customers don't need or want.

In summary, the assertion is true, but the reason provided is false as it misrepresents the focus of the marketing concept.

Correct Answer: By promoting traditional craftsmanship
   

Solution : The correct answer is (b) By promoting traditional craftsmanship

Mrs. Sharma's business empowers women by promoting traditional craftsmanship and sourcing products from local artisans. This approach provides economic opportunities for women in rural areas, allowing them to showcase their skills and become financially independent. The focus on traditional craftsmanship aligns with the empowerment of women through economic participation and recognition of their talents.

Correct Answer: into

Solution : The first option is correct.

The word (into) is appropriate in this context because it indicates the direction of the discharge, implying that the contaminated effluent is released into the river and surrounding wetlands.

The use of (into) helps convey the action of releasing or discharging the effluent into a specific area.

Correct Answer: Achieving long-term innovation goals

Solution : The correct answer is (c) Achieving long-term innovation goals

Financial planning in the context of innovation and research involves strategic allocation of financial resources to support long-term innovation goals. This includes funding research projects, developing new products, exploring new technologies, and investing in activities that will position the company for future growth and competitiveness. The focus is on achieving sustained innovation and long-term success rather than short-term profit maximization, minimizing production costs, or meeting immediate operational expenses, although these factors are also considered within the broader financial planning strategy.

Correct Answer: To support costly innovation projects

Solution : The correct answer is (d) To support costly innovation projects

LMN Ventures might need external financing for its research and development (R&D) initiatives primarily to support costly innovation projects. Research and development involve significant investments in terms of resources, technology, talent, and time. Innovative projects can be expensive, especially those involving cutting-edge technologies, advanced research, or development of new products.

To support costly innovation projects is the most relevant and common reason for seeking external financing for R&D initiatives, especially when the projects require substantial financial resources to drive innovation and maintain competitiveness in the market.

Correct Answer: Both statements are correct.

Solution : The correct answer is (a) Both statements are correct.

Statement 1 is correct. The marketing concept indeed emphasizes delivering customer value and building customer relationships. It involves understanding customer needs and preferences, creating products or services that satisfy those needs, and building strong relationships with customers to ensure their loyalty and satisfaction.

Statement 2 is also  correct. The production concept does focus on generating short-term profits through mass production. This concept centers on maximizing production efficiency and output, often by mass-producing standardized products, to reduce production costs and, consequently, increase short-term profits.

Both statements accurately describe their respective marketing concepts.

Correct Answer: Customer Satisfaction

Solution : The correct answer is  (d) Customer Satisfaction

By focusing on understanding customer needs and preferences and aiming to deliver superior value, XYZ Automobiles is placing a strong emphasis on ensuring that their customers are satisfied. This approach is customer-centric and aligns with the goal of providing products and services that meet or exceed customer expectations, ultimately leading to high levels of customer satisfaction. Cost minimization, production efficiency, and mass marketing may also be important considerations, but in this scenario, customer satisfaction is the highlighted feature.