Correct Answer: Marketing Concept

Solution : The correct answer is  (c) Marketing Concept

The marketing concept focuses on understanding and meeting customers' needs and preferences by analyzing market trends and implementing innovative marketing strategies. It is customer-centric and aims to deliver superior value to customers in order to achieve the organization's goals and objectives.

Correct Answer: Strategic plan
 

Solution : The correct answer is (b). Strategic plan

A strategic plan outlines the long-term goals and objectives of the company. For XYZ Manufacturing, this would involve defining the vision for the new smart home appliances, understanding the market, identifying target customers, and positioning the products in the competitive landscape. It provides the overall direction and framework for achieving success in the market.

Correct Answer: Control

Solution : The correct answer is (d) Control.

Control is a fundamental function of management and directing that involves monitoring and regulating activities to ensure they are in line with established plans and procedures. This ensures that organizational goals and objectives are being met effectively and efficiently. It involves comparing actual performance against the set standards and taking corrective actions as needed to ensure adherence to the established plans.

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Correct Answer: Contribute to achieving organizational objectives

Solution : The correct answer is (c) Contribute to achieving organizational objectives.

The directing function involves guiding, instructing, and overseeing employees to align their efforts and activities towards achieving the organization's goals and objectives. It includes providing clear instructions, coordinating efforts, and motivating employees to work collectively toward common organizational aims. The directing function is about channeling individual and collective efforts toward organizational success through coordination and alignment of actions.

Correct Answer: Division of labor

Solution : The correct answer is (b) Division of labor

The principle of "Division of labor" involves breaking down the overall work into smaller, specialized tasks and assigning them to individuals or groups based on their skills, expertise, and capabilities. This specialization helps in improving efficiency and productivity within the organization. In the case of XYZ Electronics, assigning specialized tasks to employees based on their skills aligns with the principle of division of labor, aiming to enhance efficiency by utilizing the strengths and capabilities of each employee in specific tasks.

Correct Answer: Open communication and participation

Solution : The correct answer is (c) Open communication and participation.

Encouraging employees to share their opinions and ideas fosters an environment of open communication and active participation. It allows for collaboration, creativity, and the pooling of diverse perspectives to drive innovation and decision-making within the organization. Open communication encourages a democratic approach, collaboration, and involvement of employees in decision-making processes, rather than imposing strict control or isolation.

Correct Answer: Cost-Plus Pricing

Solution : The correct answer is (d) Cost-Plus Pricing. 

ABC Electronics sets its prices based on market demand, competitor pricing, and production costs. Cost-Plus Pricing involves calculating the total cost to produce a product or service and then adding a markup (a certain percentage or amount) to cover desired profit. In this scenario, ABC Electronics considers production costs (the "cost" part of cost-plus pricing), along with market demand and competitor pricing, to determine the appropriate pricing for their electronic products.

Correct Answer: Coordination

Solution : The correct answer is (d) Coordination.

Coordination is the process of harmonizing and integrating the efforts of team members to ensure that tasks align with the overall plan. It involves organizing, synchronizing, and overseeing activities to meet the objectives. Effective coordination ensures that tasks are carried out as intended, minimizing deviations from the planned course of action.

In summary, while decision-making, communication, and motivation are critical aspects of directing, coordination plays a direct role in ensuring that tasks are performed in line with the planned objectives and strategies. Coordination involves orchestrating the actions of individuals and teams to achieve the desired goals as laid out in the plan.

Correct Answer: Motivate and guide their performance

Solution : The correct answer is (c) Motivate and guide their performance.

Constructive feedback is essential in helping employees understand how they are performing in their roles, what they are doing well, and where they can improve. It's meant to be supportive and developmental, aimed at motivating employees to enhance their performance and achieve their goals. By offering constructive feedback, supervisors at XYZ Electronics can guide employees, provide insights, and encourage them to continually improve and contribute effectively to the organization.