Question : Case Study: ABC Retailers
ABC Retailers is a chain of stores specializing in fashion apparel. They have a hierarchical management structure with top management, middle-level management, and lower-level management. The company aims to provide a wide range of trendy clothing options and outstanding customer service.
ABC Retailers' management team believes in maintaining transparency and open communication with employees. This reflects the management principle of:
Option 1: Centralization
Option 2: Unity of direction
Option 3: Scalar chain
Option 4: Openness
Correct Answer: Openness
Solution : The correct answer is (d) Openness
Openness in management principles emphasizes transparency, honesty, and open communication between management and employees. It encourages a culture of trust and clear communication, where information is shared, feedback is welcomed, and decisions are made in a transparent manner. This helps create a positive and collaborative work environment.
ABC Retailers' management team believes in providing opportunities for employee growth and development. This reflects the management principle of:
Option 1: Scalar chain
Option 2: Centralization
Option 3: Equity
Option 4: Initiative
The primary objective of ABC Retailers is to:
Option 1: Maximize profits
Option 2: Offer a wide range of trendy clothing options
Option 3: Provide outstanding customer service
Option 4: Expand into new markets
Which level of management in ABC Retailers is responsible for formulating long-term strategic plans for the organization?
Option 1: Top management
Option 2: Middle-level management
Option 3: Lower-level management
Option 4: -
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