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A major telecom company recently hired a new Chief Financial Officer to take command of the company’s finances. This move came against the backdrop of national and global economic crises.
The CFO is charged with the responsibility of realigning the finances of the largest Strategic Business Unit which deals with network solutions to major corporate clients in the country. In wake of the overall financial slump, many of the corporate clients have been delaying the payment of their recurring dues for the monthly network and internet services utilised. The local account managers handling those clients and their respective Regional Managers had been given the authority to maintain client relations and if necessary allow the delayed payments with a view to continue a long-term relationship with the key clients. However, the new CFO after taking stock of the situation decided to put an affirmative end to this practice. He sent a mail to every regional and local account manager asking them to discontinue services to the defaulting clients. In spite of such a strong communication, most major clients delayed the payments in the next month. As a response to this, the CFO resent his earlier mail asking for comments. In the next month, the single largest client defaulted on the payment and the regional manager promptly asked the technology company to terminate services to that client. The regional manger merely informed the client that the delay in payment was responsible for the termination of services and the service would be reconstituted on payment of the dues.
The CFO is charged with the responsibility of realigning the finances of the largest Strategic Business Unit which deals with network solutions to major corporate clients in the country. In wake of the overall financial slump, many of the corporate clients have been delaying the payment of their recurring dues for the monthly network and internet services utilised. The local account managers handling those clients and their respective Regional Managers had been given the authority to maintain client relations and if necessary allow the delayed payments with a view to continue a long-term relationship with the key clients. However, the new CFO after taking stock of the situation decided to put an affirmative end to this practice. He sent a mail to every regional and local account manager asking them to discontinue services to the defaulting clients. In spite of such a strong communication, most major clients delayed the payments in the next month. As a response to this, the CFO resent his earlier mail asking for comments. In the next month, the single largest client defaulted on the payment and the regional manager promptly asked the technology company to terminate services to that client. The regional manger merely informed the client that the delay in payment was responsible for the termination of services and the service would be reconstituted on payment of the dues.
The client faced severe difficulties due to discontinuation of the internet and local network services. The CEO of that company wrote a scathing email to the Chairman of the telecom company.
The CEO pointed out the sudden, mishandled and improperly communicated decision and its severe impact on his company’s business. He pointed out that they were one of the largest clients of the telecom company. The CEO also hinted that his company would want to reconsider their future engagement. The Chairman decided to maintain the relations with that important client and yet protect his company’s image. He promptly restarted the network services and yet requested the client to clear the dues within a week and to avoid major delays especially in these times of crisis. The client replied to this communication, agreeing to the specified norms. However, the Chairman decided to severely reprimand the Regional Manager and suspended him for 2 weeks. He also severely questioned the CFO for his error. At the next board of directors meeting, there was support for the Chairman’s action in spite of protests by some senior directors who defended the CFO and the Regional Manager's actions.
Q. The Chairman’s decision is vindicated because:
- a)The client was happy that the Regional manager was reprimanded.
- b)The client accepted the new payment norms.
- c)The client threatened to discontinue the engagement with the telecom company.
- d)The board of directors supported the Chairman.
- e)The CFO was taught a befitting lesson.
Correct answer is option 'B'. Can you explain this answer?
Verified Answer
A major telecom company recently hired a new Chief Financial Officer t...
Solution: The best interests of the company are in regular receipt of payments and maintaining good relations with their biggest clients. The Chairman’s efforts helped achieve both these objectives. Hence, his response is vindicated by this outcome.Option 1 is irrelevant as no clear indication of the same is evident from the passage.Option 3 is a fact, but it was probably because of the Regional Manager's decision- not the Chairman’s.Option 4 is confusing, as the Board does not unanimously support the Chairman. Moreover, the limited support that the Chairman received was only because his decision fulfilled the company's objectives.Option 5 is irrelevant to the question asked.Hence, the correct answer is option 2.
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A major telecom company recently hired a new Chief Financial Officer t...
Understanding the Chairman’s Decision
The Chairman's decision to reprimand the Regional Manager and question the CFO is justified, primarily because the client accepted the new payment norms. This outcome reflects a successful resolution of a potentially damaging situation.
Key Reasons for the Justification
- Client Acceptance of Payment Norms: The client agreed to the specified payment norms, indicating their willingness to continue the relationship under new terms. This agreement demonstrates that the Chairman's intervention was effective in stabilizing the relationship, which is crucial for the telecom company's financial health.
- Maintaining Client Relationships: The Chairman prioritized the long-term relationship with a major client over the immediate financial strictness enforced by the CFO. This decision showcases the importance of client retention, especially during economic downturns.
- Mitigating Potential Loss: By quickly reinstating services, the Chairman mitigated the risk of losing a significant client, which could have had severe repercussions on the company's revenues and reputation.
- Board Support: The backing from the board of directors for the Chairman's actions further reinforces the decision's appropriateness. It suggests a consensus on the need for strategic flexibility in client management.
Conclusion
In summary, the Chairman's actions were vindicated by the client's acceptance of the new payment norms, showcasing the importance of balancing financial discipline with relationship management in a challenging economic environment. This approach not only safeguarded the company’s image but also ensured ongoing business with a key client.
The Chairman's decision to reprimand the Regional Manager and question the CFO is justified, primarily because the client accepted the new payment norms. This outcome reflects a successful resolution of a potentially damaging situation.
Key Reasons for the Justification
- Client Acceptance of Payment Norms: The client agreed to the specified payment norms, indicating their willingness to continue the relationship under new terms. This agreement demonstrates that the Chairman's intervention was effective in stabilizing the relationship, which is crucial for the telecom company's financial health.
- Maintaining Client Relationships: The Chairman prioritized the long-term relationship with a major client over the immediate financial strictness enforced by the CFO. This decision showcases the importance of client retention, especially during economic downturns.
- Mitigating Potential Loss: By quickly reinstating services, the Chairman mitigated the risk of losing a significant client, which could have had severe repercussions on the company's revenues and reputation.
- Board Support: The backing from the board of directors for the Chairman's actions further reinforces the decision's appropriateness. It suggests a consensus on the need for strategic flexibility in client management.
Conclusion
In summary, the Chairman's actions were vindicated by the client's acceptance of the new payment norms, showcasing the importance of balancing financial discipline with relationship management in a challenging economic environment. This approach not only safeguarded the company’s image but also ensured ongoing business with a key client.
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A major telecom company recently hired a new Chief Financial Officer to take command of the company’s finances. This move came against the backdrop of national and global economic crises.The CFO is charged with the responsibility of realigning the finances of the largest Strategic Business Unit which deals with network solutions to major corporate clients in the country. In wake of the overall financial slump, many of the corporate clients have been delaying the payment of their recurring dues for the monthly network and internet services utilised. The local account managers handling those clients and their respective Regional Managers had been given the authority to maintain client relations and if necessary allow the delayed payments with a view to continue a long-term relationship with the key clients. However, the new CFO after taking stock of the situation decided to put an affirmative end to this practice. He sent a mail to every regional and local account manager asking them to discontinue services to the defaulting clients. In spite of such a strong communication, most major clients delayed the payments in the next month. As a response to this, the CFO resent his earlier mail asking for comments. In the next month, the single largest client defaulted on the payment and the regional manager promptly asked the technology company to terminate services to that client. The regional manger merely informed the client that the delay in payment was responsible for the termination of services and the service would be reconstituted on payment of the dues.The client faced severe difficulties due to discontinuation of the internet and local network services. The CEO of that company wrote a scathing email to the Chairman of the telecom company.The CEO pointed out the sudden, mishandled and improperly communicated decision and its severe impact on his company’s business. He pointed out that they were one of the largest clients of the telecom company. The CEO also hinted that his company would want to reconsider their future engagement. The Chairman decided to maintain the relations with that important client and yet protect his company’s image. He promptly restarted the network services and yet requested the client to clear the dues within a week and to avoid major delays especially in these times of crisis. The client replied to this communication, agreeing to the specified norms. However, the Chairman decided to severely reprimand the Regional Manager and suspended him for 2 weeks. He also severely questioned the CFO for his error. At the next board of directors meeting, there was support for the Chairman’s action in spite of protests by some senior directors who defended the CFO and the Regional Manager's actions.Q. The Chairman’s decision is vindicated because:a)The client was happy that the Regional manager wasreprimanded.b)The client accepted the new payment norms.c)The client threatened to discontinue the engagement with the telecom company.d)The board of directors supported the Chairman.e)The CFO was taught a befitting lesson.Correct answer is option 'B'. Can you explain this answer?
Question Description
A major telecom company recently hired a new Chief Financial Officer to take command of the company’s finances. This move came against the backdrop of national and global economic crises.The CFO is charged with the responsibility of realigning the finances of the largest Strategic Business Unit which deals with network solutions to major corporate clients in the country. In wake of the overall financial slump, many of the corporate clients have been delaying the payment of their recurring dues for the monthly network and internet services utilised. The local account managers handling those clients and their respective Regional Managers had been given the authority to maintain client relations and if necessary allow the delayed payments with a view to continue a long-term relationship with the key clients. However, the new CFO after taking stock of the situation decided to put an affirmative end to this practice. He sent a mail to every regional and local account manager asking them to discontinue services to the defaulting clients. In spite of such a strong communication, most major clients delayed the payments in the next month. As a response to this, the CFO resent his earlier mail asking for comments. In the next month, the single largest client defaulted on the payment and the regional manager promptly asked the technology company to terminate services to that client. The regional manger merely informed the client that the delay in payment was responsible for the termination of services and the service would be reconstituted on payment of the dues.The client faced severe difficulties due to discontinuation of the internet and local network services. The CEO of that company wrote a scathing email to the Chairman of the telecom company.The CEO pointed out the sudden, mishandled and improperly communicated decision and its severe impact on his company’s business. He pointed out that they were one of the largest clients of the telecom company. The CEO also hinted that his company would want to reconsider their future engagement. The Chairman decided to maintain the relations with that important client and yet protect his company’s image. He promptly restarted the network services and yet requested the client to clear the dues within a week and to avoid major delays especially in these times of crisis. The client replied to this communication, agreeing to the specified norms. However, the Chairman decided to severely reprimand the Regional Manager and suspended him for 2 weeks. He also severely questioned the CFO for his error. At the next board of directors meeting, there was support for the Chairman’s action in spite of protests by some senior directors who defended the CFO and the Regional Manager's actions.Q. The Chairman’s decision is vindicated because:a)The client was happy that the Regional manager wasreprimanded.b)The client accepted the new payment norms.c)The client threatened to discontinue the engagement with the telecom company.d)The board of directors supported the Chairman.e)The CFO was taught a befitting lesson.Correct answer is option 'B'. Can you explain this answer? for UPSC 2025 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about A major telecom company recently hired a new Chief Financial Officer to take command of the company’s finances. This move came against the backdrop of national and global economic crises.The CFO is charged with the responsibility of realigning the finances of the largest Strategic Business Unit which deals with network solutions to major corporate clients in the country. In wake of the overall financial slump, many of the corporate clients have been delaying the payment of their recurring dues for the monthly network and internet services utilised. The local account managers handling those clients and their respective Regional Managers had been given the authority to maintain client relations and if necessary allow the delayed payments with a view to continue a long-term relationship with the key clients. However, the new CFO after taking stock of the situation decided to put an affirmative end to this practice. He sent a mail to every regional and local account manager asking them to discontinue services to the defaulting clients. In spite of such a strong communication, most major clients delayed the payments in the next month. As a response to this, the CFO resent his earlier mail asking for comments. In the next month, the single largest client defaulted on the payment and the regional manager promptly asked the technology company to terminate services to that client. The regional manger merely informed the client that the delay in payment was responsible for the termination of services and the service would be reconstituted on payment of the dues.The client faced severe difficulties due to discontinuation of the internet and local network services. The CEO of that company wrote a scathing email to the Chairman of the telecom company.The CEO pointed out the sudden, mishandled and improperly communicated decision and its severe impact on his company’s business. He pointed out that they were one of the largest clients of the telecom company. The CEO also hinted that his company would want to reconsider their future engagement. The Chairman decided to maintain the relations with that important client and yet protect his company’s image. He promptly restarted the network services and yet requested the client to clear the dues within a week and to avoid major delays especially in these times of crisis. The client replied to this communication, agreeing to the specified norms. However, the Chairman decided to severely reprimand the Regional Manager and suspended him for 2 weeks. He also severely questioned the CFO for his error. At the next board of directors meeting, there was support for the Chairman’s action in spite of protests by some senior directors who defended the CFO and the Regional Manager's actions.Q. The Chairman’s decision is vindicated because:a)The client was happy that the Regional manager wasreprimanded.b)The client accepted the new payment norms.c)The client threatened to discontinue the engagement with the telecom company.d)The board of directors supported the Chairman.e)The CFO was taught a befitting lesson.Correct answer is option 'B'. Can you explain this answer? covers all topics & solutions for UPSC 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for A major telecom company recently hired a new Chief Financial Officer to take command of the company’s finances. This move came against the backdrop of national and global economic crises.The CFO is charged with the responsibility of realigning the finances of the largest Strategic Business Unit which deals with network solutions to major corporate clients in the country. In wake of the overall financial slump, many of the corporate clients have been delaying the payment of their recurring dues for the monthly network and internet services utilised. The local account managers handling those clients and their respective Regional Managers had been given the authority to maintain client relations and if necessary allow the delayed payments with a view to continue a long-term relationship with the key clients. However, the new CFO after taking stock of the situation decided to put an affirmative end to this practice. He sent a mail to every regional and local account manager asking them to discontinue services to the defaulting clients. In spite of such a strong communication, most major clients delayed the payments in the next month. As a response to this, the CFO resent his earlier mail asking for comments. In the next month, the single largest client defaulted on the payment and the regional manager promptly asked the technology company to terminate services to that client. The regional manger merely informed the client that the delay in payment was responsible for the termination of services and the service would be reconstituted on payment of the dues.The client faced severe difficulties due to discontinuation of the internet and local network services. The CEO of that company wrote a scathing email to the Chairman of the telecom company.The CEO pointed out the sudden, mishandled and improperly communicated decision and its severe impact on his company’s business. He pointed out that they were one of the largest clients of the telecom company. The CEO also hinted that his company would want to reconsider their future engagement. The Chairman decided to maintain the relations with that important client and yet protect his company’s image. He promptly restarted the network services and yet requested the client to clear the dues within a week and to avoid major delays especially in these times of crisis. The client replied to this communication, agreeing to the specified norms. However, the Chairman decided to severely reprimand the Regional Manager and suspended him for 2 weeks. He also severely questioned the CFO for his error. At the next board of directors meeting, there was support for the Chairman’s action in spite of protests by some senior directors who defended the CFO and the Regional Manager's actions.Q. The Chairman’s decision is vindicated because:a)The client was happy that the Regional manager wasreprimanded.b)The client accepted the new payment norms.c)The client threatened to discontinue the engagement with the telecom company.d)The board of directors supported the Chairman.e)The CFO was taught a befitting lesson.Correct answer is option 'B'. Can you explain this answer?.
A major telecom company recently hired a new Chief Financial Officer to take command of the company’s finances. This move came against the backdrop of national and global economic crises.The CFO is charged with the responsibility of realigning the finances of the largest Strategic Business Unit which deals with network solutions to major corporate clients in the country. In wake of the overall financial slump, many of the corporate clients have been delaying the payment of their recurring dues for the monthly network and internet services utilised. The local account managers handling those clients and their respective Regional Managers had been given the authority to maintain client relations and if necessary allow the delayed payments with a view to continue a long-term relationship with the key clients. However, the new CFO after taking stock of the situation decided to put an affirmative end to this practice. He sent a mail to every regional and local account manager asking them to discontinue services to the defaulting clients. In spite of such a strong communication, most major clients delayed the payments in the next month. As a response to this, the CFO resent his earlier mail asking for comments. In the next month, the single largest client defaulted on the payment and the regional manager promptly asked the technology company to terminate services to that client. The regional manger merely informed the client that the delay in payment was responsible for the termination of services and the service would be reconstituted on payment of the dues.The client faced severe difficulties due to discontinuation of the internet and local network services. The CEO of that company wrote a scathing email to the Chairman of the telecom company.The CEO pointed out the sudden, mishandled and improperly communicated decision and its severe impact on his company’s business. He pointed out that they were one of the largest clients of the telecom company. The CEO also hinted that his company would want to reconsider their future engagement. The Chairman decided to maintain the relations with that important client and yet protect his company’s image. He promptly restarted the network services and yet requested the client to clear the dues within a week and to avoid major delays especially in these times of crisis. The client replied to this communication, agreeing to the specified norms. However, the Chairman decided to severely reprimand the Regional Manager and suspended him for 2 weeks. He also severely questioned the CFO for his error. At the next board of directors meeting, there was support for the Chairman’s action in spite of protests by some senior directors who defended the CFO and the Regional Manager's actions.Q. The Chairman’s decision is vindicated because:a)The client was happy that the Regional manager wasreprimanded.b)The client accepted the new payment norms.c)The client threatened to discontinue the engagement with the telecom company.d)The board of directors supported the Chairman.e)The CFO was taught a befitting lesson.Correct answer is option 'B'. Can you explain this answer? for UPSC 2025 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about A major telecom company recently hired a new Chief Financial Officer to take command of the company’s finances. This move came against the backdrop of national and global economic crises.The CFO is charged with the responsibility of realigning the finances of the largest Strategic Business Unit which deals with network solutions to major corporate clients in the country. In wake of the overall financial slump, many of the corporate clients have been delaying the payment of their recurring dues for the monthly network and internet services utilised. The local account managers handling those clients and their respective Regional Managers had been given the authority to maintain client relations and if necessary allow the delayed payments with a view to continue a long-term relationship with the key clients. However, the new CFO after taking stock of the situation decided to put an affirmative end to this practice. He sent a mail to every regional and local account manager asking them to discontinue services to the defaulting clients. In spite of such a strong communication, most major clients delayed the payments in the next month. As a response to this, the CFO resent his earlier mail asking for comments. In the next month, the single largest client defaulted on the payment and the regional manager promptly asked the technology company to terminate services to that client. The regional manger merely informed the client that the delay in payment was responsible for the termination of services and the service would be reconstituted on payment of the dues.The client faced severe difficulties due to discontinuation of the internet and local network services. The CEO of that company wrote a scathing email to the Chairman of the telecom company.The CEO pointed out the sudden, mishandled and improperly communicated decision and its severe impact on his company’s business. He pointed out that they were one of the largest clients of the telecom company. The CEO also hinted that his company would want to reconsider their future engagement. The Chairman decided to maintain the relations with that important client and yet protect his company’s image. He promptly restarted the network services and yet requested the client to clear the dues within a week and to avoid major delays especially in these times of crisis. The client replied to this communication, agreeing to the specified norms. However, the Chairman decided to severely reprimand the Regional Manager and suspended him for 2 weeks. He also severely questioned the CFO for his error. At the next board of directors meeting, there was support for the Chairman’s action in spite of protests by some senior directors who defended the CFO and the Regional Manager's actions.Q. The Chairman’s decision is vindicated because:a)The client was happy that the Regional manager wasreprimanded.b)The client accepted the new payment norms.c)The client threatened to discontinue the engagement with the telecom company.d)The board of directors supported the Chairman.e)The CFO was taught a befitting lesson.Correct answer is option 'B'. Can you explain this answer? covers all topics & solutions for UPSC 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for A major telecom company recently hired a new Chief Financial Officer to take command of the company’s finances. This move came against the backdrop of national and global economic crises.The CFO is charged with the responsibility of realigning the finances of the largest Strategic Business Unit which deals with network solutions to major corporate clients in the country. In wake of the overall financial slump, many of the corporate clients have been delaying the payment of their recurring dues for the monthly network and internet services utilised. The local account managers handling those clients and their respective Regional Managers had been given the authority to maintain client relations and if necessary allow the delayed payments with a view to continue a long-term relationship with the key clients. However, the new CFO after taking stock of the situation decided to put an affirmative end to this practice. He sent a mail to every regional and local account manager asking them to discontinue services to the defaulting clients. In spite of such a strong communication, most major clients delayed the payments in the next month. As a response to this, the CFO resent his earlier mail asking for comments. In the next month, the single largest client defaulted on the payment and the regional manager promptly asked the technology company to terminate services to that client. The regional manger merely informed the client that the delay in payment was responsible for the termination of services and the service would be reconstituted on payment of the dues.The client faced severe difficulties due to discontinuation of the internet and local network services. The CEO of that company wrote a scathing email to the Chairman of the telecom company.The CEO pointed out the sudden, mishandled and improperly communicated decision and its severe impact on his company’s business. He pointed out that they were one of the largest clients of the telecom company. The CEO also hinted that his company would want to reconsider their future engagement. The Chairman decided to maintain the relations with that important client and yet protect his company’s image. He promptly restarted the network services and yet requested the client to clear the dues within a week and to avoid major delays especially in these times of crisis. The client replied to this communication, agreeing to the specified norms. However, the Chairman decided to severely reprimand the Regional Manager and suspended him for 2 weeks. He also severely questioned the CFO for his error. At the next board of directors meeting, there was support for the Chairman’s action in spite of protests by some senior directors who defended the CFO and the Regional Manager's actions.Q. The Chairman’s decision is vindicated because:a)The client was happy that the Regional manager wasreprimanded.b)The client accepted the new payment norms.c)The client threatened to discontinue the engagement with the telecom company.d)The board of directors supported the Chairman.e)The CFO was taught a befitting lesson.Correct answer is option 'B'. Can you explain this answer?.
Solutions for A major telecom company recently hired a new Chief Financial Officer to take command of the company’s finances. This move came against the backdrop of national and global economic crises.The CFO is charged with the responsibility of realigning the finances of the largest Strategic Business Unit which deals with network solutions to major corporate clients in the country. In wake of the overall financial slump, many of the corporate clients have been delaying the payment of their recurring dues for the monthly network and internet services utilised. The local account managers handling those clients and their respective Regional Managers had been given the authority to maintain client relations and if necessary allow the delayed payments with a view to continue a long-term relationship with the key clients. However, the new CFO after taking stock of the situation decided to put an affirmative end to this practice. He sent a mail to every regional and local account manager asking them to discontinue services to the defaulting clients. In spite of such a strong communication, most major clients delayed the payments in the next month. As a response to this, the CFO resent his earlier mail asking for comments. In the next month, the single largest client defaulted on the payment and the regional manager promptly asked the technology company to terminate services to that client. The regional manger merely informed the client that the delay in payment was responsible for the termination of services and the service would be reconstituted on payment of the dues.The client faced severe difficulties due to discontinuation of the internet and local network services. The CEO of that company wrote a scathing email to the Chairman of the telecom company.The CEO pointed out the sudden, mishandled and improperly communicated decision and its severe impact on his company’s business. He pointed out that they were one of the largest clients of the telecom company. The CEO also hinted that his company would want to reconsider their future engagement. The Chairman decided to maintain the relations with that important client and yet protect his company’s image. He promptly restarted the network services and yet requested the client to clear the dues within a week and to avoid major delays especially in these times of crisis. The client replied to this communication, agreeing to the specified norms. However, the Chairman decided to severely reprimand the Regional Manager and suspended him for 2 weeks. He also severely questioned the CFO for his error. At the next board of directors meeting, there was support for the Chairman’s action in spite of protests by some senior directors who defended the CFO and the Regional Manager's actions.Q. The Chairman’s decision is vindicated because:a)The client was happy that the Regional manager wasreprimanded.b)The client accepted the new payment norms.c)The client threatened to discontinue the engagement with the telecom company.d)The board of directors supported the Chairman.e)The CFO was taught a befitting lesson.Correct answer is option 'B'. Can you explain this answer? in English & in Hindi are available as part of our courses for UPSC.
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Here you can find the meaning of A major telecom company recently hired a new Chief Financial Officer to take command of the company’s finances. This move came against the backdrop of national and global economic crises.The CFO is charged with the responsibility of realigning the finances of the largest Strategic Business Unit which deals with network solutions to major corporate clients in the country. In wake of the overall financial slump, many of the corporate clients have been delaying the payment of their recurring dues for the monthly network and internet services utilised. The local account managers handling those clients and their respective Regional Managers had been given the authority to maintain client relations and if necessary allow the delayed payments with a view to continue a long-term relationship with the key clients. However, the new CFO after taking stock of the situation decided to put an affirmative end to this practice. He sent a mail to every regional and local account manager asking them to discontinue services to the defaulting clients. In spite of such a strong communication, most major clients delayed the payments in the next month. As a response to this, the CFO resent his earlier mail asking for comments. In the next month, the single largest client defaulted on the payment and the regional manager promptly asked the technology company to terminate services to that client. The regional manger merely informed the client that the delay in payment was responsible for the termination of services and the service would be reconstituted on payment of the dues.The client faced severe difficulties due to discontinuation of the internet and local network services. The CEO of that company wrote a scathing email to the Chairman of the telecom company.The CEO pointed out the sudden, mishandled and improperly communicated decision and its severe impact on his company’s business. He pointed out that they were one of the largest clients of the telecom company. The CEO also hinted that his company would want to reconsider their future engagement. The Chairman decided to maintain the relations with that important client and yet protect his company’s image. He promptly restarted the network services and yet requested the client to clear the dues within a week and to avoid major delays especially in these times of crisis. The client replied to this communication, agreeing to the specified norms. However, the Chairman decided to severely reprimand the Regional Manager and suspended him for 2 weeks. He also severely questioned the CFO for his error. At the next board of directors meeting, there was support for the Chairman’s action in spite of protests by some senior directors who defended the CFO and the Regional Manager's actions.Q. The Chairman’s decision is vindicated because:a)The client was happy that the Regional manager wasreprimanded.b)The client accepted the new payment norms.c)The client threatened to discontinue the engagement with the telecom company.d)The board of directors supported the Chairman.e)The CFO was taught a befitting lesson.Correct answer is option 'B'. Can you explain this answer? defined & explained in the simplest way possible. Besides giving the explanation of
A major telecom company recently hired a new Chief Financial Officer to take command of the company’s finances. This move came against the backdrop of national and global economic crises.The CFO is charged with the responsibility of realigning the finances of the largest Strategic Business Unit which deals with network solutions to major corporate clients in the country. In wake of the overall financial slump, many of the corporate clients have been delaying the payment of their recurring dues for the monthly network and internet services utilised. The local account managers handling those clients and their respective Regional Managers had been given the authority to maintain client relations and if necessary allow the delayed payments with a view to continue a long-term relationship with the key clients. However, the new CFO after taking stock of the situation decided to put an affirmative end to this practice. He sent a mail to every regional and local account manager asking them to discontinue services to the defaulting clients. In spite of such a strong communication, most major clients delayed the payments in the next month. As a response to this, the CFO resent his earlier mail asking for comments. In the next month, the single largest client defaulted on the payment and the regional manager promptly asked the technology company to terminate services to that client. The regional manger merely informed the client that the delay in payment was responsible for the termination of services and the service would be reconstituted on payment of the dues.The client faced severe difficulties due to discontinuation of the internet and local network services. The CEO of that company wrote a scathing email to the Chairman of the telecom company.The CEO pointed out the sudden, mishandled and improperly communicated decision and its severe impact on his company’s business. He pointed out that they were one of the largest clients of the telecom company. The CEO also hinted that his company would want to reconsider their future engagement. The Chairman decided to maintain the relations with that important client and yet protect his company’s image. He promptly restarted the network services and yet requested the client to clear the dues within a week and to avoid major delays especially in these times of crisis. The client replied to this communication, agreeing to the specified norms. However, the Chairman decided to severely reprimand the Regional Manager and suspended him for 2 weeks. He also severely questioned the CFO for his error. At the next board of directors meeting, there was support for the Chairman’s action in spite of protests by some senior directors who defended the CFO and the Regional Manager's actions.Q. The Chairman’s decision is vindicated because:a)The client was happy that the Regional manager wasreprimanded.b)The client accepted the new payment norms.c)The client threatened to discontinue the engagement with the telecom company.d)The board of directors supported the Chairman.e)The CFO was taught a befitting lesson.Correct answer is option 'B'. Can you explain this answer?, a detailed solution for A major telecom company recently hired a new Chief Financial Officer to take command of the company’s finances. This move came against the backdrop of national and global economic crises.The CFO is charged with the responsibility of realigning the finances of the largest Strategic Business Unit which deals with network solutions to major corporate clients in the country. In wake of the overall financial slump, many of the corporate clients have been delaying the payment of their recurring dues for the monthly network and internet services utilised. The local account managers handling those clients and their respective Regional Managers had been given the authority to maintain client relations and if necessary allow the delayed payments with a view to continue a long-term relationship with the key clients. However, the new CFO after taking stock of the situation decided to put an affirmative end to this practice. He sent a mail to every regional and local account manager asking them to discontinue services to the defaulting clients. In spite of such a strong communication, most major clients delayed the payments in the next month. As a response to this, the CFO resent his earlier mail asking for comments. In the next month, the single largest client defaulted on the payment and the regional manager promptly asked the technology company to terminate services to that client. The regional manger merely informed the client that the delay in payment was responsible for the termination of services and the service would be reconstituted on payment of the dues.The client faced severe difficulties due to discontinuation of the internet and local network services. The CEO of that company wrote a scathing email to the Chairman of the telecom company.The CEO pointed out the sudden, mishandled and improperly communicated decision and its severe impact on his company’s business. He pointed out that they were one of the largest clients of the telecom company. The CEO also hinted that his company would want to reconsider their future engagement. The Chairman decided to maintain the relations with that important client and yet protect his company’s image. He promptly restarted the network services and yet requested the client to clear the dues within a week and to avoid major delays especially in these times of crisis. The client replied to this communication, agreeing to the specified norms. However, the Chairman decided to severely reprimand the Regional Manager and suspended him for 2 weeks. He also severely questioned the CFO for his error. At the next board of directors meeting, there was support for the Chairman’s action in spite of protests by some senior directors who defended the CFO and the Regional Manager's actions.Q. The Chairman’s decision is vindicated because:a)The client was happy that the Regional manager wasreprimanded.b)The client accepted the new payment norms.c)The client threatened to discontinue the engagement with the telecom company.d)The board of directors supported the Chairman.e)The CFO was taught a befitting lesson.Correct answer is option 'B'. Can you explain this answer? has been provided alongside types of A major telecom company recently hired a new Chief Financial Officer to take command of the company’s finances. This move came against the backdrop of national and global economic crises.The CFO is charged with the responsibility of realigning the finances of the largest Strategic Business Unit which deals with network solutions to major corporate clients in the country. In wake of the overall financial slump, many of the corporate clients have been delaying the payment of their recurring dues for the monthly network and internet services utilised. The local account managers handling those clients and their respective Regional Managers had been given the authority to maintain client relations and if necessary allow the delayed payments with a view to continue a long-term relationship with the key clients. However, the new CFO after taking stock of the situation decided to put an affirmative end to this practice. He sent a mail to every regional and local account manager asking them to discontinue services to the defaulting clients. In spite of such a strong communication, most major clients delayed the payments in the next month. As a response to this, the CFO resent his earlier mail asking for comments. In the next month, the single largest client defaulted on the payment and the regional manager promptly asked the technology company to terminate services to that client. The regional manger merely informed the client that the delay in payment was responsible for the termination of services and the service would be reconstituted on payment of the dues.The client faced severe difficulties due to discontinuation of the internet and local network services. The CEO of that company wrote a scathing email to the Chairman of the telecom company.The CEO pointed out the sudden, mishandled and improperly communicated decision and its severe impact on his company’s business. He pointed out that they were one of the largest clients of the telecom company. The CEO also hinted that his company would want to reconsider their future engagement. The Chairman decided to maintain the relations with that important client and yet protect his company’s image. He promptly restarted the network services and yet requested the client to clear the dues within a week and to avoid major delays especially in these times of crisis. The client replied to this communication, agreeing to the specified norms. However, the Chairman decided to severely reprimand the Regional Manager and suspended him for 2 weeks. He also severely questioned the CFO for his error. At the next board of directors meeting, there was support for the Chairman’s action in spite of protests by some senior directors who defended the CFO and the Regional Manager's actions.Q. The Chairman’s decision is vindicated because:a)The client was happy that the Regional manager wasreprimanded.b)The client accepted the new payment norms.c)The client threatened to discontinue the engagement with the telecom company.d)The board of directors supported the Chairman.e)The CFO was taught a befitting lesson.Correct answer is option 'B'. Can you explain this answer? theory, EduRev gives you an
ample number of questions to practice A major telecom company recently hired a new Chief Financial Officer to take command of the company’s finances. This move came against the backdrop of national and global economic crises.The CFO is charged with the responsibility of realigning the finances of the largest Strategic Business Unit which deals with network solutions to major corporate clients in the country. In wake of the overall financial slump, many of the corporate clients have been delaying the payment of their recurring dues for the monthly network and internet services utilised. The local account managers handling those clients and their respective Regional Managers had been given the authority to maintain client relations and if necessary allow the delayed payments with a view to continue a long-term relationship with the key clients. However, the new CFO after taking stock of the situation decided to put an affirmative end to this practice. He sent a mail to every regional and local account manager asking them to discontinue services to the defaulting clients. In spite of such a strong communication, most major clients delayed the payments in the next month. As a response to this, the CFO resent his earlier mail asking for comments. In the next month, the single largest client defaulted on the payment and the regional manager promptly asked the technology company to terminate services to that client. The regional manger merely informed the client that the delay in payment was responsible for the termination of services and the service would be reconstituted on payment of the dues.The client faced severe difficulties due to discontinuation of the internet and local network services. The CEO of that company wrote a scathing email to the Chairman of the telecom company.The CEO pointed out the sudden, mishandled and improperly communicated decision and its severe impact on his company’s business. He pointed out that they were one of the largest clients of the telecom company. The CEO also hinted that his company would want to reconsider their future engagement. The Chairman decided to maintain the relations with that important client and yet protect his company’s image. He promptly restarted the network services and yet requested the client to clear the dues within a week and to avoid major delays especially in these times of crisis. The client replied to this communication, agreeing to the specified norms. However, the Chairman decided to severely reprimand the Regional Manager and suspended him for 2 weeks. He also severely questioned the CFO for his error. At the next board of directors meeting, there was support for the Chairman’s action in spite of protests by some senior directors who defended the CFO and the Regional Manager's actions.Q. The Chairman’s decision is vindicated because:a)The client was happy that the Regional manager wasreprimanded.b)The client accepted the new payment norms.c)The client threatened to discontinue the engagement with the telecom company.d)The board of directors supported the Chairman.e)The CFO was taught a befitting lesson.Correct answer is option 'B'. Can you explain this answer? tests, examples and also practice UPSC tests.
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