Question C1

Company K is an electronics manufacturer. In the past years, it experienced rapid growth. The goals of the company's sales revenues were traditionally formulated and decided by the old Chairman and General Manager. First, they decided the goals of sales revenues for coming three years. After that, the Production Manager, Marketing Manager, and Sales Manager followed the set goals to implement sub-goals for their own departments.

The old Chairman retired last year, and the current Chairman assumed the role then. The current Chairman instructs the General Manager not to follow the original practice of the old chairman in goal setting, but to set the company's goals of sales revenues together with other managers of the organisation.

1. (a)Illustrate with example from the case the goal setting approach previously practiced by theRETIREDChairman of Company K. (3 marks)
2. (b)What is the most probable goal setting approach adopted by theCURRENTChairman? Clarify with example from the case. Also, explain theFOURkey elements of such an approach. (6 marks)
3. (c)What kind of plan was adopted when Company K set the goals of sales revenues? Define the characteristics of this kind of plan. (2 marks)
4. (d)Propose with brief description,OTHER THANsocial media, four sources that the managers in Company K could gather useful and specific information when detecting emerging trends of the environment. (4 marks)