Objectives of Management fulfilled by GenX Fashion

GenX Fashion is a company that is planning to launch a casual wear line for college students in a year's time. To achieve this, the company has reduced the branches of its formal wear by 10% to retain its existing market share. The following are the objectives of management that GenX Fashion is fulfilling by undertaking such activities:

1. Growth and Expansion

One of the primary objectives of management is to ensure growth and expansion of the company. By launching a casual wear line for college students, GenX Fashion is expanding its product line and catering to a new market segment. This will help the company to grow and increase its market share.

2. Customer Satisfaction

Another important objective of management is to ensure customer satisfaction. By launching a casual wear line for college students, GenX Fashion is catering to the needs and preferences of this specific market segment. This will help the company to satisfy its customers and retain them in the long run.

3. Market Penetration

Market penetration is another important objective of management. By reducing the branches of its formal wear by 10%, GenX Fashion is focusing on retaining its existing market share. This will help the company to penetrate the market further and increase its brand recognition.

4. Cost Reduction

Cost reduction is an important objective of management as it helps to increase the profitability of the company. By reducing the branches of its formal wear, GenX Fashion is cutting down on its operational costs. This will help the company to increase its profitability and improve its financial performance.

5. Innovation

Innovation is an important objective of management as it helps the company to stay ahead of its competitors. By launching a casual wear line for college students, GenX Fashion is introducing innovation in its product line. This will help the company to differentiate itself from its competitors and attract more customers.

Conclusion

In conclusion, GenX Fashion is fulfilling several objectives of management by launching a casual wear line for college students and reducing the branches of its formal wear. The company is focusing on growth, customer satisfaction, market penetration, cost reduction, and innovation, which are all important objectives of management. By achieving these objectives, GenX Fashion can increase its market share, profitability, and brand recognition in the long run.

The social objective of an organisation basically involves the creation of benefit and development of the society. The social objective of management that is indicated in the given situation is concern for environment.


Top level of Management: "Team X immediately discusses the change to be brought about in company's plans."