Correct Answer: By investing in market research and product development

Solution : The correct answer is (C) By investing in market research and product development

Understanding the social environment can help JKL Enterprises in dealing with changes in consumer preferences and lifestyle trends by enabling the company to invest in market research and product development. By conducting research and staying attuned to evolving consumer preferences, JKL Enterprises can tailor its products and services to better align with the changing tastes and demands of its target market.

Correct Answer: Selecting an alternative
   

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

Selecting an alternative involves making a decision on which option aligns best with the company's objectives and goals. After selecting the alternative, the company can then proceed with developing premises, setting specific objectives and goals, and allocating resources as part of the detailed planning process for implementing the chosen course of action.

Correct Answer: Selecting an alternative
  

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

Once ABC Retail Chain has assessed and evaluated different courses of action for expanding its product range, the next logical step is to select the most suitable alternative. Selecting an alternative involves making a decision on which option aligns best with the company's objectives and goals. After selecting the alternative, the company can then proceed with developing premises, setting specific objectives and goals, and allocating resources as part of the detailed planning process for implementing the chosen course of action.

Correct Answer: Evaluating alternative courses of action
    

Solution : The correct answer is (a). Evaluating alternative courses of action

Evaluating alternative courses of action is often a crucial step, but not necessarily the immediate next one. Depending on the complexity of the expansion plan and the level of detail already explored in the identified courses of action. Evaluating alternative courses of action, if they have well-defined objectives and sufficient information to proceed.

Ultimately, the best path depends on the specific context and ABC's current stage in their product range expansion planning process.

Correct Answer: Strategic plan
 

Solution : The correct answer is (b) Strategic plan

A strategic plan is the most appropriate for guiding the overall direction and long-term goals of the organization. It involves making decisions about resource allocation, defining objectives, and setting strategies to achieve those objectives. In the case of ABC Retail Chain, a strategic plan would help outline the expansion goals, target markets, product range, and overall approach to achieving success in new areas.

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.

Correct Answer: By finding alternative suppliers

Solution : The correct answer is (B) By finding alternative suppliers

Adapting to changes in government policies, particularly in the context of taxation, may involve finding alternative suppliers, optimizing the supply chain, or making adjustments to the procurement process to minimize the impact of the policy changes on the company's operations and profitability.

Correct Answer: Evaluating alternative courses of action
 

Solution : The correct answer is (a). Evaluating alternative courses of action

After identifying different courses of action, it is essential for ABC Retail Chain to thoroughly evaluate each option. This involves assessing the potential benefits, risks, feasibility, and implications associated with each course of action. By conducting a comprehensive evaluation, the retail chain can make an informed decision on the most suitable and effective approach for expanding its product range. This step is crucial for ensuring that the chosen expansion strategy aligns with the company's objectives and maximizes the chances of success.

Correct Answer: Marketing Concept

Solution : The correct answer is (c) Marketing Concept

The marketing concept is centered around understanding and meeting customer needs and preferences, delivering superior value, and prioritizing customer satisfaction and long-term relationships. XYZ Retail's focus on building strong relationships with customers and emphasizing customer satisfaction and long-term loyalty aligns with the principles of the marketing concept.

Correct Answer: Setting customer service standards.

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

The first step for IJK Retail in the process of controlling would be to set customer service standards. This involves defining clear and specific expectations for customer service quality that the company aims to achieve across all its outlets. By establishing these standards, IJK Retail provides a benchmark against which it can measure actual customer service performance and determine whether any deviations occur.

Once the standards are set, the subsequent steps such as measuring customer satisfaction, comparing sales data with targets, and taking corrective action will follow to ensure that the established standards are being met and maintained consistently across all outlets.