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?
, MGMT 301 EXAM 1 PSU RON JOHNSON | 118 QUESTIONS AND ANSWERS | 2025/2026
UPDATE | WITH COMPLETE SOLUTION
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
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?
, MGMT 301 EXAM 1 PSU RON JOHNSON | 118 QUESTIONS AND ANSWERS | 2025/2026
UPDATE | WITH COMPLETE SOLUTION
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
