Correct Answer: Setting customer service standards.

Solution : The correct answer is (a) Setting customer service standards.

In the process of control, the first step for IJK Retail would be setting customer service standards. Control begins with establishing clear and specific standards or goals against which performance will be measured. In this case, the company needs to define the expected customer service standards that it wants to maintain across its outlets before it can measure, compare, and take corrective action if necessary.

Correct Answer: Political environment

Solution : The correct answer is (D) Political environment

The dimension of the business environment highlighted in this case is the political environment. The case involves changes in government policies related to taxation, which fall under the political environment. This dimension includes government regulations, policies, and political factors that can significantly impact businesses. 

Correct Answer: Identifying various courses of action
 

Solution : The correct answer is (a). Identifying various courses of action

Once the premises are established, the next logical step is to identify different courses of action or strategies that align with the assumptions made during the premises development. This step involves exploring various options for expanding the product range.

Correct Answer: Multi-brand product retail trading

Solution : The correct option is Multi-brand product retail trading.

The Foreign Direct Investment (FDI) policy of India stipulates limitations on the amount of 100% FDI in equity that can be invested in multi-brand goods retail commerce. There are restrictions on the amount of foreign investment allowed in this industry, and under the current policy framework, foreign organizations are not allowed to own all of their shares.

Correct Answer: Government policies

Solution : The correct answer is (C) Government policies

The business environment factor affecting PQR Enterprises in this case is government policies, particularly those related to taxation. Changes in government policies can have a significant impact on a business, and in this scenario, PQR Enterprises needs to adapt its operations to comply with these new policies and minimize the impact on its profitability.

Correct Answer: Order

Solution : The correct answer is (c) Order

The principle of "Order" in management emphasizes organizing and structuring the workplace to provide clear and precise instructions to employees. It involves arranging resources and activities in a systematic manner to ensure efficiency and effectiveness in operations. XYZ Retail Company's belief in providing clear and precise instructions to its employees aligns with the principle of order, aiming to streamline operations and create a well-organized work environment.

Correct Answer: Dual Distribution

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

Dual distribution involves using both direct and indirect distribution channels to reach customers. In this case, XYZ Sports Equipment sells its products directly through their own online platform and indirectly through retail stores, providing customers with multiple channels to access and purchase their sports equipment. This strategy enhances accessibility and convenience for customers by allowing them to choose the buying method that suits them best.

Correct Answer: Selecting an alternative
  

Solution : The correct answer is (a). Selecting an alternative

Once ABC Retail Chain has evaluated the various courses of action, the next logical step is to select the most appropriate alternative based on the evaluation criteria. This involves making a decision and choosing the specific approach or plan that aligns with the company's goals and overall strategic objectives for expanding its product range.

Correct Answer: The rules and guidelines set by the government for businesses and industries

Solution : The correct answer is (C) The rules and guidelines set by the government for businesses and industries

The term "government regulations" refers to the rules and guidelines set by the government for businesses and industries. These regulations are established to govern various aspects of business operations, ensuring compliance with laws and standards that promote safety, fairness, and various other societal goals. Government regulations can cover areas such as environmental protection, consumer safety, labor practices, product quality, and more.

Correct Answer: Government policies

Solution : The correct answer is (C) Government policies

The business environment factor affecting ABC Ltd. in this case is government policies. The challenges the company faces in meeting government regulations related to packaging and waste management are directly related to regulatory policies set by the government.