Read the passage carefully and answer the following question. Planning at GreenTech Solutions GreenTech Solutions, a renewable energy startup, wanted to expand its operations into the solar panel market. To achieve this, the management developed a structured planning process using different types of plans. To support the strategic goal, the company devised a plan to establish partnerships with suppliers and secure contracts with government and private organizations for solar installations. The production team outlined daily and weekly targets for manufacturing solar panels, ensuring quality control and timely delivery. The management prepared for potential risks like raw material shortages by securing multiple suppliers and maintaining a reserve inventory. A detailed budget was created, allocating resources for manufacturing, marketing, and R&D to ensure cost efficiency. |
What was the result of the planning process? |
Decline in market share Delayed product launch Successful market entry and leadership Loss of partnerships |
Successful market entry and leadership |
The correct answer is Option (3) → Successful market entry and leadership. Successful market entry and leadership was the result of the planning process. The passage clearly states the result of the planning process in the last paragraph- "By aligning all types of plans, GreenTech Solutions successfully launched its solar panels, captured a significant market share, and established itself as a leader in the renewable energy sector within three years." Therefore, the correct answer is Successful market entry and leadership. |