MAN2021 Mid-Term Exam Questions
and All Correct Answers 2026
Updated.
Which of the following is the department manager's tool for daily and weekly operations?
Operational plan
Strategic goal
Strategic plan
Targeted plan
Conventional goal - Answer Operational plan
Jachen, a finance manager at LRV Industries, is asked by her boss to develop a plan in the event
that company sales drop by 20% or more. This type of planning is known as _____.
crisis planning
financial planning
consumer protection
contingency planning
environmental planning - Answer contingency planning
Which of the following is a commonly cited limitation of planning?
Plans make it more difficult to measure standards of performance.
Plans can create a false sense of security.
Plans limit employee motivation and commitment.
Plans boost intuition and creativity.
Plans make resource allocation more difficult. - Answer Plans can create a false sense of
security.
The planning process begins with which of the following?
, Company-wide meeting
Development of a mission statement
Communication of goals to the rest of the organization
Brainstorming
Development of operational goals - Answer Development of a mission statement
"We respect our employees and value their diversity" is an example of a statement you are most
likely to find in the organization's _____.
strategic plans
tactical plans
strategic goals
tactical goals
mission - Answer mission
Which of the following is described by mission statements?
Location of facilities
None of these choices
All of these choices
Product quality
Corporate values - Answer All of these choices
Jahzara is the CEO of a privately held software company. In defining corporate-level strategies,
which of the following questions would she most likely be concerned with?
How can we make manufacturing processes more efficient?
What business are we in?
How can we maximize profits?
How does marketing support the business?
How do we compete? - Answer What business are we in?
Which of the following strategies involves seeking efficient facilities, cutting costs, and using
tight cost controls to be more efficient than competitors?
Liquidation
and All Correct Answers 2026
Updated.
Which of the following is the department manager's tool for daily and weekly operations?
Operational plan
Strategic goal
Strategic plan
Targeted plan
Conventional goal - Answer Operational plan
Jachen, a finance manager at LRV Industries, is asked by her boss to develop a plan in the event
that company sales drop by 20% or more. This type of planning is known as _____.
crisis planning
financial planning
consumer protection
contingency planning
environmental planning - Answer contingency planning
Which of the following is a commonly cited limitation of planning?
Plans make it more difficult to measure standards of performance.
Plans can create a false sense of security.
Plans limit employee motivation and commitment.
Plans boost intuition and creativity.
Plans make resource allocation more difficult. - Answer Plans can create a false sense of
security.
The planning process begins with which of the following?
, Company-wide meeting
Development of a mission statement
Communication of goals to the rest of the organization
Brainstorming
Development of operational goals - Answer Development of a mission statement
"We respect our employees and value their diversity" is an example of a statement you are most
likely to find in the organization's _____.
strategic plans
tactical plans
strategic goals
tactical goals
mission - Answer mission
Which of the following is described by mission statements?
Location of facilities
None of these choices
All of these choices
Product quality
Corporate values - Answer All of these choices
Jahzara is the CEO of a privately held software company. In defining corporate-level strategies,
which of the following questions would she most likely be concerned with?
How can we make manufacturing processes more efficient?
What business are we in?
How can we maximize profits?
How does marketing support the business?
How do we compete? - Answer What business are we in?
Which of the following strategies involves seeking efficient facilities, cutting costs, and using
tight cost controls to be more efficient than competitors?
Liquidation
