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.
The management function of controlling in ABC Retailers involves:
Option 1: Setting performance standards and measuring actual performance
Option 2: Guiding and motivating employees to achieve organizational goals
Option 3: Allocating resources and assigning tasks
Option 4: Monitoring and evaluating employee performance
Correct Answer: Setting performance standards and measuring actual performance
Solution : The correct answer is (a) Setting performance standards and measuring actual performance
Controlling in management involves setting performance standards or benchmarks, measuring actual performance against these standards, and taking corrective actions as necessary to ensure that the organization's objectives are being met. It focuses on monitoring and regulating various activities and processes to maintain performance within established parameters. While guiding and motivating employees , allocating resources and assigning tasks , and monitoring and evaluating employee performance are important aspects of management, they are not the primary components of the controlling function.
The management function of organizing in ABC Retailers involves:
Option 1: Guiding and motivating employees
Option 2: Setting performance standards
Option 4: Monitoring employee performance
The management function of leading in ABC Retailers involves:
Option 3: Monitoring and evaluating employee performance
Option 4: Assigning tasks and responsibilities to employees
The management function of planning in ABC Retailers involves:
Option 1: Allocating resources to different departments
Option 2: Guiding and motivating employees
Option 3: Setting organizational goals and strategies
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