Question : Case Study: ABC Retail Chain (Continued)
The next step ABC Retail Chain should take after evaluating alternative courses of action is:
Option 1: Selecting an alternative
Option 2: Developing premises
Option 3: Setting objectives and goals
Option 4: Allocating resources
Correct Answer: Selecting an alternative
Solution : The correct answer is (a). Selecting an alternative
This involves making a decision on which approach aligns best with the company's objectives, goals, and overall strategic plan for expanding its product range. Selecting an alternative sets the direction for further planning activities, including developing premises, setting specific objectives and goals, and allocating resources accordingly. Making a well-informed decision at this stage is crucial for the successful execution of the chosen course of action.
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Question : Case Study: ABC Retail Chain
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.
What is the first step ABC Retail Chain should take in the planning process for its expansion?
Option 1: Setting objectives and goals
Option 2: Identifying potential risks
Option 3: Allocating resources
Option 4: Evaluating alternatives
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