MGMT 301 EXAM 1 PSU RON JOHNSON | 118
QUESTIONS AND ANSWERS | 2025/2026 UPDATE |
WITH COMPLETE SOLUTION
What does "E.A.P" stand for? Answer - E= Excellent Performance
A= Academic Integrity
P= Professional Behavior
What is the Fortune 500? Answer - The largest 500 companies by total revenue
in the United States
What is the Global 500? Answer - The largest 500 companies by total revenue
in the world
What are the 4 languages of business? Answer - Accounting
Management
Business Literacy
A Business Major
What type of business language is Accounting? Answer - Technical Language
What type of business language is Management? Answer - People and
Organizational Language
,What type of business language is Business Literacy? Answer - Conversational
Language
What type of business language is a Business Major? Answer - Functional
Language
What are the 3 skills needed to manage? Answer - Technical, Leadership, and
Business skills
If a company primarily sells its products to other companies it employs which
type of business model? ex. General Motors Answer - Business to Business
Model
If a company primarily sells it products directly to the consumer it employs
which type of business model?
ex. Subway Answer - Business to Consumer
If a company's overall operations include selling both directly to the consumer
and to other corporations what type of business model does it employ?
ex. Amazon Answer - Hybrid model
What does a leader focus on? Answer - A leader focuses on big picture items
and is more concerned with strategy involved in completing a task
ex. Innovates, develops, challenges status quo, asks what and why
What does a manager focus on? Answer - A manager focuses more on day to
day operations and the execution of tasks.
ex. administers, maintains, asks how and when
, What is the theme of the shirtless dancing man video? Answer - In order to
create a movement it must happen in a public setting. Leadership is overrated,
there would be no movement if it weren't for the first follower.
In a for profit corporation that operates using the traditional pyramid who does
the CEO report to? Answer - Board of Directors
In a non-profit corporation that operates using the traditional pyramid who
does the CEO report to? Answer - Board of Trustees
Who is at the top of a traditional management pyramid? Answer - CEO
Who is at the top of an inverted management pyramid? Answer - The
Customer
What is one of the most popular companies that employs an inverted
management pyramid? Answer - W.L. Gore
creator of Goretex, fabric for extreme conditions
What are the 3 major roles managers serve as according to Henry Mintzberg?
Answer - Interpersonal, Informational, and Decisional role
What are the 3 components to the Interpersonal role? Answer - Figure Head,
Leader, and Liaison
What is the "Lean In" approach? Answer - Every time you go to a meeting have
something to say, if you don't it's a wasted opportunity
QUESTIONS AND ANSWERS | 2025/2026 UPDATE |
WITH COMPLETE SOLUTION
What does "E.A.P" stand for? Answer - E= Excellent Performance
A= Academic Integrity
P= Professional Behavior
What is the Fortune 500? Answer - The largest 500 companies by total revenue
in the United States
What is the Global 500? Answer - The largest 500 companies by total revenue
in the world
What are the 4 languages of business? Answer - Accounting
Management
Business Literacy
A Business Major
What type of business language is Accounting? Answer - Technical Language
What type of business language is Management? Answer - People and
Organizational Language
,What type of business language is Business Literacy? Answer - Conversational
Language
What type of business language is a Business Major? Answer - Functional
Language
What are the 3 skills needed to manage? Answer - Technical, Leadership, and
Business skills
If a company primarily sells its products to other companies it employs which
type of business model? ex. General Motors Answer - Business to Business
Model
If a company primarily sells it products directly to the consumer it employs
which type of business model?
ex. Subway Answer - Business to Consumer
If a company's overall operations include selling both directly to the consumer
and to other corporations what type of business model does it employ?
ex. Amazon Answer - Hybrid model
What does a leader focus on? Answer - A leader focuses on big picture items
and is more concerned with strategy involved in completing a task
ex. Innovates, develops, challenges status quo, asks what and why
What does a manager focus on? Answer - A manager focuses more on day to
day operations and the execution of tasks.
ex. administers, maintains, asks how and when
, What is the theme of the shirtless dancing man video? Answer - In order to
create a movement it must happen in a public setting. Leadership is overrated,
there would be no movement if it weren't for the first follower.
In a for profit corporation that operates using the traditional pyramid who does
the CEO report to? Answer - Board of Directors
In a non-profit corporation that operates using the traditional pyramid who
does the CEO report to? Answer - Board of Trustees
Who is at the top of a traditional management pyramid? Answer - CEO
Who is at the top of an inverted management pyramid? Answer - The
Customer
What is one of the most popular companies that employs an inverted
management pyramid? Answer - W.L. Gore
creator of Goretex, fabric for extreme conditions
What are the 3 major roles managers serve as according to Henry Mintzberg?
Answer - Interpersonal, Informational, and Decisional role
What are the 3 components to the Interpersonal role? Answer - Figure Head,
Leader, and Liaison
What is the "Lean In" approach? Answer - Every time you go to a meeting have
something to say, if you don't it's a wasted opportunity
