CMA Foundation · Fundamentals of Business Economics and Management · Introduction to Management
Sundaram Auto Ltd. trains staff to adopt new technology, revises its product line each year and shifts to electric components as customer preferences change. This best demonstrates which importance of management?
This shows management helping in adapting to change. By retraining staff, updating products and moving to electric components as technology and customer preferences evolve, management keeps the firm relevant in a changing environment, which is a recognised importance of management.
- AAchieving group goals
- BIncreasing efficiency
- CHelping in adapting to changeCorrect
- DEstablishing a sound organisation
Explanation
Adjusting skills, products and components in response to technology and customer shifts shows management helping the organisation cope with a changing environment. Increasing efficiency concerns cost and output, which is not the main point here.
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