MGMT 3000 Exam questions and
answers graded A+
Business is all about... - ANS✅✅Results! and achieving it the right way
What kind of results? - ANS✅✅Financial and non-financial
What is meant by the "right way"? - ANS✅✅Legally, ethically, morally, honestly, you'd be proud,
etc.
Every action done impacts results in some way so managers... - ANS✅✅need to consider how each
employee is affected by this
Companies generally hire those that can... - ANS✅✅get things done and produce results
Know your job! In terms of - ANS✅✅-Results
-Focus
-People
-Customers
-Processes
-Authority
Business is a global system of... - ANS✅✅interconnected and interdependent parts
Heighten your situational awareness to... - ANS✅✅improve your ability to anticipate and predict
to make better management decisions
What type of situations? - ANS✅✅External and internal
Business is a - ANS✅✅team sport
Characteristics of highly effective teams - ANS✅✅-Members know each other well
,-Members know what is expected (from the team, each other)
-Members depend on, support, and respect each other
-Hold each other accountable for integrity, quality, and performance
-The team focus on achieving results the right way!
Those who adapt best - ANS✅✅win!
Your external and internal environment is constantly changing and evolving so you should... -
ANS✅✅-Heighten your situational awareness to anticipate and predict in order to make better
decisions
-And adapt and adjust your management approach to the changing environment because those who
adapt and adjust best win
How do managers heighten their situational awareness? - ANS✅✅-Keeping their eyes and ears
open: Know their job. Show up, listen, observe, be visible
-Get outside their bubble, make connections
-Stay connected to current events, news, etc
-Be curious
Cultures that adapt best - ANS✅✅win!
Values are the - ANS✅✅guide rails
What is your true north? - ANS✅✅Your personal values
If behaviors in your organization are not consistent with your organizational values (guide rails),
what do you do? - ANS✅✅-Communicate the values and expectations for understanding and WHY
important
-Hold people accountable
, Values provide the guide rails for - ANS✅✅decision making
Values answer the questions of - ANS✅✅-How we do business
-How we treat people
-What we believe in
3 core values of this course - ANS✅✅1. Integrity
2. Engagement
3. Accountability
Every job impacts financials - ANS✅✅in some way
Jobs that impact revenue examples - ANS✅✅-Sales
-Marketing
-Customer service
-Reception
-Any jobs that touch the customer
Jobs that impact costs - ANS✅✅-Purchasing
-After sales repairs
-Production
-HR
-R&D
-Risk management
-Finance
-All jobs that impact costs
Jobs that affect cash flow - ANS✅✅-Sales and marketing
-Finance
-Purchasing
answers graded A+
Business is all about... - ANS✅✅Results! and achieving it the right way
What kind of results? - ANS✅✅Financial and non-financial
What is meant by the "right way"? - ANS✅✅Legally, ethically, morally, honestly, you'd be proud,
etc.
Every action done impacts results in some way so managers... - ANS✅✅need to consider how each
employee is affected by this
Companies generally hire those that can... - ANS✅✅get things done and produce results
Know your job! In terms of - ANS✅✅-Results
-Focus
-People
-Customers
-Processes
-Authority
Business is a global system of... - ANS✅✅interconnected and interdependent parts
Heighten your situational awareness to... - ANS✅✅improve your ability to anticipate and predict
to make better management decisions
What type of situations? - ANS✅✅External and internal
Business is a - ANS✅✅team sport
Characteristics of highly effective teams - ANS✅✅-Members know each other well
,-Members know what is expected (from the team, each other)
-Members depend on, support, and respect each other
-Hold each other accountable for integrity, quality, and performance
-The team focus on achieving results the right way!
Those who adapt best - ANS✅✅win!
Your external and internal environment is constantly changing and evolving so you should... -
ANS✅✅-Heighten your situational awareness to anticipate and predict in order to make better
decisions
-And adapt and adjust your management approach to the changing environment because those who
adapt and adjust best win
How do managers heighten their situational awareness? - ANS✅✅-Keeping their eyes and ears
open: Know their job. Show up, listen, observe, be visible
-Get outside their bubble, make connections
-Stay connected to current events, news, etc
-Be curious
Cultures that adapt best - ANS✅✅win!
Values are the - ANS✅✅guide rails
What is your true north? - ANS✅✅Your personal values
If behaviors in your organization are not consistent with your organizational values (guide rails),
what do you do? - ANS✅✅-Communicate the values and expectations for understanding and WHY
important
-Hold people accountable
, Values provide the guide rails for - ANS✅✅decision making
Values answer the questions of - ANS✅✅-How we do business
-How we treat people
-What we believe in
3 core values of this course - ANS✅✅1. Integrity
2. Engagement
3. Accountability
Every job impacts financials - ANS✅✅in some way
Jobs that impact revenue examples - ANS✅✅-Sales
-Marketing
-Customer service
-Reception
-Any jobs that touch the customer
Jobs that impact costs - ANS✅✅-Purchasing
-After sales repairs
-Production
-HR
-R&D
-Risk management
-Finance
-All jobs that impact costs
Jobs that affect cash flow - ANS✅✅-Sales and marketing
-Finance
-Purchasing
