MGMT 301 Exam 1 PSU Ron Johnson With 118
Ques ons and answers Newest RATED A+ NEW EDITION
What does "E.A.P" stand for? - Ans E= Excellent Performance
A= Academic Integrity
P= Professional Behavior
What is the Fortune 500? - Ans The largest 500 companies by total revenue in the United
States
What is the Global 500? - Ans The largest 500 companies by total revenue in the world
What are the 4 languages of business? - Ans Accoun+ng
Management
Business Literacy
A Business Major
What type of business language is Accoun+ng? - Ans Technical Language
What type of business language is Management? - Ans People and Organiza+onal Language
What type of business language is Business Literacy? - Ans Conversa+onal Language
What type of business language is a Business Major? - Ans Func+onal Language
What are the 3 skills needed to manage? - Ans 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 - Ans Business to Business Model
If a company primarily sells it products directly to the consumer it employs which type of
business model?
ex. Subway - Ans Business to Consumer
If a company's overall opera+ons include selling both directly to the consumer and to other
corpora+ons what type of business model does it employ?
ex. Amazon - Ans Hybrid model
What does a leader focus on? - Ans A leader focuses on big picture items and is more
concerned with strategy involved in comple+ng a task
ex. Innovates, develops, challenges status quo, asks what and why
What does a manager focus on? - Ans A manager focuses more on day to day opera+ons and
the execu+on of tasks.
ex. administers, maintains, asks how and when
What is the theme of the shirtless dancing man video? - Ans In order to create a movement it
must happen in a public se8ng. Leadership is overrated, there would be no movement if it
weren't for the first follower.
In a for profit corpora+on that operates using the tradi+onal pyramid who does the CEO report
to? - Ans Board of Directors
In a non-profit corpora+on that operates using the tradi+onal pyramid who does the CEO
report to? - Ans Board of Trustees
, Who is at the top of a tradi+onal management pyramid? - Ans CEO
Who is at the top of an inverted management pyramid? - Ans The Customer
What is one of the most popular companies that employs an inverted management pyramid? -
Ans W.L. Gore
creator of Goretex, fabric for extreme condi+ons
What are the 3 major roles managers serve as according to Henry Mintzberg? - Ans
Interpersonal, Informa+onal, and Decisional role
What are the 3 components to the Interpersonal role? - Ans Figure Head, Leader, and Liaison
What is the "Lean In" approach? - Ans Every +me you go to a mee+ng have something to say,
if you don't it's a wasted opportunity
What are the 3 components to the Informa+onal Role? - Ans Monitor, Disseminate, Spokes
Person
What are the 4 components to the Decisional Role? - Ans Nego+ator, Resource Allocator,
Entrepreneur, Disturbance Handler
What are the 4 steps in the management process? - Ans Planning, Organizing, Leading,
Controlling
What does the Planning process of management entail? - Ans Se8ng performance objec+ves
and deciding how to achieve them
Ques ons and answers Newest RATED A+ NEW EDITION
What does "E.A.P" stand for? - Ans E= Excellent Performance
A= Academic Integrity
P= Professional Behavior
What is the Fortune 500? - Ans The largest 500 companies by total revenue in the United
States
What is the Global 500? - Ans The largest 500 companies by total revenue in the world
What are the 4 languages of business? - Ans Accoun+ng
Management
Business Literacy
A Business Major
What type of business language is Accoun+ng? - Ans Technical Language
What type of business language is Management? - Ans People and Organiza+onal Language
What type of business language is Business Literacy? - Ans Conversa+onal Language
What type of business language is a Business Major? - Ans Func+onal Language
What are the 3 skills needed to manage? - Ans 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 - Ans Business to Business Model
If a company primarily sells it products directly to the consumer it employs which type of
business model?
ex. Subway - Ans Business to Consumer
If a company's overall opera+ons include selling both directly to the consumer and to other
corpora+ons what type of business model does it employ?
ex. Amazon - Ans Hybrid model
What does a leader focus on? - Ans A leader focuses on big picture items and is more
concerned with strategy involved in comple+ng a task
ex. Innovates, develops, challenges status quo, asks what and why
What does a manager focus on? - Ans A manager focuses more on day to day opera+ons and
the execu+on of tasks.
ex. administers, maintains, asks how and when
What is the theme of the shirtless dancing man video? - Ans In order to create a movement it
must happen in a public se8ng. Leadership is overrated, there would be no movement if it
weren't for the first follower.
In a for profit corpora+on that operates using the tradi+onal pyramid who does the CEO report
to? - Ans Board of Directors
In a non-profit corpora+on that operates using the tradi+onal pyramid who does the CEO
report to? - Ans Board of Trustees
, Who is at the top of a tradi+onal management pyramid? - Ans CEO
Who is at the top of an inverted management pyramid? - Ans The Customer
What is one of the most popular companies that employs an inverted management pyramid? -
Ans W.L. Gore
creator of Goretex, fabric for extreme condi+ons
What are the 3 major roles managers serve as according to Henry Mintzberg? - Ans
Interpersonal, Informa+onal, and Decisional role
What are the 3 components to the Interpersonal role? - Ans Figure Head, Leader, and Liaison
What is the "Lean In" approach? - Ans Every +me you go to a mee+ng have something to say,
if you don't it's a wasted opportunity
What are the 3 components to the Informa+onal Role? - Ans Monitor, Disseminate, Spokes
Person
What are the 4 components to the Decisional Role? - Ans Nego+ator, Resource Allocator,
Entrepreneur, Disturbance Handler
What are the 4 steps in the management process? - Ans Planning, Organizing, Leading,
Controlling
What does the Planning process of management entail? - Ans Se8ng performance objec+ves
and deciding how to achieve them
