Question:
‘Best Electronics’ is led by its visionary Chief Executive Officer, Nikhil. It has a reputation for good quality products and customer service. Nikhil recognised the need to continually innovate and provide customers with the latest products. He wanted the company to be the market leader in electronics. Nikhil knew that to realise his ambitious vision, he needed a clear and well-defined plan that would provide broad contours of the company's business. His team conducted extensive market research to uncover emerging trends, customer preferences, and potential competitors. On its basis, a plan was prepared defining the company's direction and scope in the long run. On the implementation of the plan, 'Best Electronics' became the market leader in two years. The type of plan which helped 'Best Electronics' to become the market leader was:
‘Best Electronics’ is led by its visionary Chief Executive Officer, Nikhil. It has a reputation for good quality products and customer service. Nikhil recognised the need to continually innovate and provide customers with the latest products. He wanted the company to be the market leader in electronics. Nikhil knew that to realise his ambitious vision, he needed a clear and well-defined plan that would provide broad contours of the company's business. His team conducted extensive market research to uncover emerging trends, customer preferences, and potential competitors. On its basis, a plan was prepared defining the company's direction and scope in the long run. On the implementation of the plan, 'Best Electronics' became the market leader in two years. The type of plan which helped 'Best Electronics' to become the market leader was:
Updated On: Jan 13, 2026
- Policy
- Rule
- Strategy
- Procedure
Show Solution
Verified By Collegedunia
The Correct Option is C
Solution and Explanation
Step 1: A strategy is a long-term plan designed to achieve specific goals and overcome challenges by utilizing available resources.
Step 2: Nikhil's vision and the extensive market research guided the preparation of a clear, long-term plan, which is characteristic of strategic planning.
Thus, the correct answer is option C.
Was this answer helpful?
0
0
Top CBSE CLASS XII Business Studies Questions
What is the Planning Process?
- ................ is one of the most important attitudes of an entrepreneur, which is defined as the ability to continue to do something, even when it is difficult.
(A) Decisiveness
(B) Interpersonal skills
(C) Perseverance
(D) Taking initiative - Mention any four most common environmental barriers which an entrepreneur may face while running his/her venture.
- ____is the process of searching for prospective employees and stimulating them to apply for jobs in the organization.
‘Vishesh Constructions’, a construction company, decided to strictly implement ‘No Helmet, No Entry’ and put the following sign at their construction sites :
Identify the type of plan indicated by the above sign :
View More Questions
Top CBSE CLASS XII Planning Questions
‘Vishesh Constructions’, a construction company, decided to strictly implement ‘No Helmet, No Entry’ and put the following sign at their construction sites :
Identify the type of plan indicated by the above sign :
- Sudha and Shweta were twin sisters. After completing their education from college, they decided to start a business. As they were Commerce students, they knew the importance of deciding in advance and how to do what to do . It was very challenging for them as this decision was to guide all their future actions. While discussing the same with their mother, they got a new idea of starting a Cloud Kitchen . Both the sisters were very excited to start this. The idea took the shape of a concrete plan and within a month, they were successful in starting their Kitchen. Cloud
Identify the point of importance of planning highlighted in the above case : - After studying Entrepreneurship in Class XII, Neel completed a baking course and started a bakery. He set a target of earning a modest 10 percent return on investment in the first year. As he was supplying healthy bakery products, the demand kept increasing. Cakes and Bakes became a famous bakery in a year. He now wanted to develop a plan to define the direction and scope of Cakes and Bakes the long run. He made a marketing plan to decide if he could charge higher price to improve his return on investment, how to advertise the products, etc.
Quoting lines from the paragraph, identify and explain two types of plans discussed in the above case. - Nalini has an online flower and gifts retail business. She coordinates efforts across eight outlets in four cities. From November to February, the wedding season increases demand. She plans well in advance, ensures adequate workforce, monitors progress, and coordinates with departments for advertising and execution. Quoting lines from the paragraph, identify and explain four features of an important concept of management highlighted in the above case.
- Plans are prepared for a specific period of time, may be for a month, a quarter or a year. At the end of that period, there is a need for a new plan to be drawn on the basis of new requirements and future conditions. The feature of planning reflected in the above lines is:
View More Questions
Top CBSE CLASS XII Questions
- 2, b, c are in A.P. and the range of determinant $\begin{vmatrix}1&1&1\\ 2&b&c\\ 4&b^{2}&c^{2}\end{vmatrix}$ is [2, 16]. Then find range of c is
- A boy of mass 50 kg is standing at one end of a, boat of length 9 m and mass 400 kg. He runs to the other, end. The distance through which the centre of mass of the boat boy system moves is
- A capillary tube of radius r is dipped inside a large vessel of water. The mass of water raised above water level is M. If the radius of capillary is doubled, the mass of water inside capillary will be
- A circular disc is rotating about its own axis. An external opposing torque 0.02 Nm is applied on the disc by which it comes rest in 5 seconds. The initial angular momentum of disc is
- A circular disc is rotating about its own axis at uniform angular velocity \(\omega.\) The disc is subjected to uniform angular retardation by which its angular velocity is decreased to \(\frac {\omega}{2}\) during 120 rotations. The number of rotations further made by it before coming to rest is
View More Questions