Question : Case Study: ABC Retail Chain
ABC Retail Chain is a popular brand with multiple stores across the country. They are planning to expand their product range by adding organic and eco-friendly products. Question:
The importance of planning for ABC Retail Chain in expanding their product range includes:
Option 1: Enhancing the decision-making process
Option 2: Limiting financial resources
Option 3: Ignoring external factors
Option 4: Restricting employee autonomy
Correct Answer: Enhancing the decision-making process
Solution : The correct answer is (a) Enhancing the decision-making process
Planning is crucial for making informed and effective decisions. In the context of expanding the product range, planning helps ABC Retail Chain analyze market trends, consumer preferences, and competitive landscapes. It enables them to make strategic decisions about which organic and eco-friendly products to introduce, where to place them in stores, and how to market them. Limiting financial resources, ignoring external factors, and restricting employee autonomy can be detrimental to successful expansion efforts. Planning, on the other hand, provides a structured approach to consider various factors and make well-thought-out decisions.
ABC Retail Chain is a popular brand with multiple stores across the country. The company is planning to expand its product range and enter new markets to attract a wider customer base.
Question:
The importance of planning for ABC Retail Chain lies in:
Option 1: Restricting employee autonomy
Option 2: Enhancing decision-making process
Option 3: Limiting financial resources
Option 4: Ignoring external factors
ABC Retail Chain is a popular brand with multiple stores across the country. The company is planning to expand its product range and enter new markets to attract a wider customer base. Question:
ABC Retail Chain is a popular brand with multiple stores across the country. They are planning to expand their product range by adding organic and eco-friendly products. Question: The type of plan that ABC Retail Chain should develop to expand their product range is:
Option 1: Strategic plan
Option 2: Operational plan
Option 3: Contingency plan
Option 4: Tactical plan
ABC Retail Chain is a popular brand with multiple stores across the country. They are planning to expand their product range by adding organic and eco-friendly products.
In the planning process for expanding its product range, what should ABC Retail Chain do after developing premises?
Option 1: Identifying various courses of action
Option 2: Evaluating alternative courses of action
Option 3: Setting objectives and goals
Option 4: Allocating resources
The type of plan that ABC Retail Chain needs to develop for their expansion is:
Option 1: Tactical plan
Option 2: Strategic plan
Option 4: Operational plan
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