A company is planning to expand its operations internationally. Which of the following strategic actions should the management prioritize to ensure successful entry into a new market?

• Conducting a SWOT analysis to understand the new market environment

• Hiring local employees without any market research

• Reducing the quality of products to cut costs

• Ignoring local regulations and cultural differences

A business is facing declining sales. Which strategic approach should management take to identify the root cause and develop a plan to improve sales?

• Increase advertising without analyzing current market trends

• Conduct market research to understand customer needs and preferences

• Cut costs by reducing the workforce

• Focus solely on online sales channels

In financial management, what strategic decision should a company make to ensure long-term financial stability?

• Invest all profits into high-risk ventures

• Develop a diversified investment portfolio

• Focus only on short-term gains

• Avoid any form of financial analysis

A company is experiencing high employee turnover. What strategic action should the human resources department take to address this issue?

• Ignore employee feedback and continue current practices

• Conduct exit interviews to gather insights and improve retention strategies

• Offer the same benefits package to all employees without considering individual needs

• Focus solely on recruiting new employees

Which strategic marketing approach should a company adopt to successfully launch a new product in a competitive market?

• Launch the product without any promotional activities

• Conduct a comprehensive market analysis to identify target customers and competitors

• Set a high price without considering market demand

• Focus only on traditional marketing channels

A manufacturing company is facing issues with product quality. What strategic step should the operations management take to improve quality control?

• Ignore quality issues and focus on increasing production speed

• Implement a Total Quality Management (TQM) system to continuously improve processes

• Reduce the number of quality checks to save time

• Focus only on reducing production costs

When planning a budget for the upcoming fiscal year, what strategic approach should a company take to ensure financial efficiency?

• Allocate funds equally across all departments without analysis

• Analyze past financial performance and forecast future needs

• Focus only on cutting costs without considering growth opportunities

• Avoid setting any financial goals

A company wants to improve its supply chain efficiency. What strategic action should management take to achieve this goal?

• Ignore supplier feedback and focus only on cost reduction

• Collaborate with suppliers to optimize logistics and reduce lead times

• Focus solely on increasing inventory levels

• Avoid using technology in supply chain management

In a rapidly changing market, what strategic approach should a company take to maintain its competitive advantage?

• Stick to traditional business models without innovation

• Continuously monitor market trends and adapt business strategies accordingly

• Focus only on short-term profits

• Ignore customer feedback and preferences

A company is planning to implement a new technology system. What strategic step should management take to ensure successful implementation?

• Implement the system without any employee training

• Develop a comprehensive training program and involve employees in the transition process

• Focus only on the technical aspects and ignore user experience

• Avoid setting any timelines for implementation