Question : Case Study 3: Importance of Entrepreneurship Development

XYZ Electronics is a well-established company that has been manufacturing traditional electronic gadgets for decades. With changing consumer preferences, the demand for their products has declined. The management realized the need to innovate and cater to the growing market for smart devices. They invested in research and development to create cutting-edge smart gadgets, resulting in increased sales and market share.

Question:

How did XYZ Electronics respond to the changing market demands?

Option 1: By ignoring the market trends and continuing with traditional gadgets
  

Option 2: By investing in research and development for smart gadgets
 

Option 3: By shutting down the business

Option 4: By reducing the prices of their traditional gadgets

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:

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 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

Question : Case Study: XYZ Electronics Pvt. Ltd.

XYZ Electronics Pvt. Ltd. is a growing company specializing in the manufacturing of electronic gadgets. The management believes in effective directing to ensure smooth operations. Consider the following scenario to answer the questions.

Question:

The supervisor at XYZ Electronics emphasizes effective communication to prevent:

Option 1: Employee development and growth
 

Option 2: Bureaucratic procedures
 

Option 3: Misunderstandings and conflicts

Option 4: Innovation and creativity

Question : Case Study: XYZ Electronics Pvt. Ltd.

XYZ Electronics Pvt. Ltd. is a growing company specializing in the manufacturing of electronic gadgets. The management believes in effective directing to ensure smooth operations. Consider the following scenario to answer the questions.

Question: 

What is the primary responsibility of a supervisor at XYZ Electronics?

Option 1: Ignoring employee feedback
 

Option 2: Focusing solely on individual tasks
 

Option 3: Ensuring employee development and performance

Option 4: Implementing rigid control over decisions