| Direction: Q. 5 to 8 |
| Read the given passages and answer the questions that follow. |
| II. A car company, Car Ltd., is facing problem of declining market share due to increased competition from other new and existing players in the market. Its competitors are introducing lower priced models for mass consumers who are price sensitive. Car Ltd. realises that it needs to take steps immediately to improve its market standing in the future. |
| It decides to increase sales by 15% and gave directions to all departments at all levels about what they are expected to do to achieve the objective. The managers also make certain assumptions about the future and forecasting is made about the demand for new products, prices of machinery and equipment needed, etc. For quality conscious consumers, Car Limited plans to introduce new models with added features and new technological advancements. The company has formed a team with representatives from all the levels of management. This team will brainstorm and determine the steps that will be adopted by the organisation for implementing the above strategy. However, it is very difficult to assess future trends in the environment if economic policies are modified or political conditions in the country are not stable. Intense competition in the market can also upset financial plans, then sales targets may have to be revised. |
A) Planning
B) Organising
C) Directing
D) Controlling
Correct Answer: A
Solution :
[a] Planning means setting objectives for a given time period, formulating various courses of action to achieve them and then selecting the best possible alternative.
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