Final answer:
Raj is fulfilling the figurehead role by presenting certificates and gold watches to retiring employees, representing the company and acknowledging employee service.
Step-by-step explanation:
When Raj, the plant manager for Bell Electronics, presented two retiring employees with certificates of appreciation and gold watches, he was fulfilling the figurehead role. According to management theory, specifically Mintzberg's managerial roles, a figurehead represents an organization ceremonially and symbolically. In this scenario, Raj is enacting a formal role that involves certain social, ceremonial and legal responsibilities, epitomizing the company's values and contributing to the internal corporate culture by recognizing employees' contributions.