Correct Answer: The existence of a variety of cultural practices and customs within a society or group

Solution : The correct answer is (C) The existence of a variety of cultural practices and customs within a society or group

The term "cultural diversity" refers to the existence of a variety of cultural practices and customs within a society or group. It reflects the presence of different cultural backgrounds, traditions, languages, and customs among the people in a given society or organization. Cultural diversity can result from factors such as immigration, globalization, or historical cultural influences.

Correct Answer: Measurable and specific goals

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

Measurable and specific goals are crucial in effective planning because they provide clarity and allow for objective evaluation of progress. When goals are measurable, it means there are clear criteria for assessing whether the objectives have been achieved. Specific goals provide a detailed and unambiguous description of what needs to be accomplished, leaving little room for confusion or misinterpretation.

Correct Answer: Evaluating alternative courses of action
  

Solution : The correct answer is (a). Evaluating alternative courses of action

This involves assessing the potential benefits, risks, costs, and impacts associated with each option. By conducting a comprehensive evaluation, ABC Retail Chain can make informed decisions about which course of action aligns best with its objectives and overall strategic plan for expanding its product range.

Correct Answer: By finding alternative suppliers

Solution : The correct answer is (B) By finding alternative suppliers

Adapting to changes in government policies, particularly in the context of taxation, may involve finding alternative suppliers, optimizing the supply chain, or making adjustments to the procurement process to minimize the impact of the policy changes on the company's operations and profitability.

Correct Answer: Order

Solution : The correct answer is (c) Order

The principle of order focuses on organizing resources and activities efficiently. It involves providing clear and specific instructions to employees to ensure smooth and efficient operations.

In summary, XYZ Retail Company providing clear and precise instructions to its employees to streamline operations aligns with the principle of "order," which involves organizing activities efficiently and providing clear guidelines for smooth operations within the organization.

Correct Answer: Unity of direction

Solution : The correct answer is (a) Unity of direction.

Unity of direction is a management principle that states that all members of an organization should work towards common goals. This requires coordination between different departments and individuals.

In the case of XYZ Retail Corporation, the principle of unity of direction is the most relevant to the goal of improving coordination among its various departments. By ensuring that all departments are working towards the same goals, XYZ Retail Corporation can create a more unified and coordinated organization.

Correct Answer: Evaluating alternative courses of action
  

Solution : The correct answer is (a). Evaluating alternative courses of action

Once the potential courses of action are identified, the next logical step is to evaluate and compare them to determine which one aligns best with the organization's objectives and goals. This evaluation process may involve considering factors such as feasibility, cost-effectiveness, potential risks, and the expected outcomes of each alternative. After this evaluation, the retail chain can make an informed decision on which course of action to pursue. Subsequently, setting objectives and goals, identifying potential risks, and allocating resources can be part of the further planning process.

Correct Answer: Rs 1,00,000

Solution : Answer = Rs 1,00,000

Before the company redeems 2,000 debentures on 31st March 2019, it should have a balance in DRR of Rs 1,00,000, i.e., 10 per cent of Rs 10,00,000, being the nominal (face) value of debentures outstanding for redemption.
Hence, the correct option is 3.

Correct Answer: Unity of direction

Solution : The correct answer is (a) Unity of direction

The principle of "Unity of direction" in management focuses on ensuring that activities within the organization are directed towards a common goal. It involves aligning and coordinating the efforts of different departments and individuals to achieve a unified mission and common objectives. XYZ Retail Corporation's aim to improve coordination among its various departments aligns with the principle of unity of direction, emphasizing the need for a cohesive and synchronized approach across departments to work towards the organization's goals.

Correct Answer: Selective Distribution

Solution : The correct answer is (b) Selective Distribution.

In selective distribution, a company selects a limited number of retail outlets to distribute its products based on certain criteria, such as location, target market, or brand image. This strategy allows the company to maintain control over product quality and image while still reaching a broader audience through carefully chosen retail partners.