Installed Office for Mac 2016 last night, but after I've setup Outlook with my Exchange account, it did not work! Which previously in Office for Mac 2011 version, it works just fine, any ideas why?
It is very possible that your company is running an Exchange Server that is not compatible with Outlook for Mac 2016.
Check with your company's help desk to find out if this is indeed the issue and if so how you can reinstall Outlook 2011.
If your version is activated and all you are still experiencing that, I can suggest you to take a look at the credentials that you have for the account, the server info(under "Advanced...") and the ports.
All could be found by selecting the Outlook, then from the menu you can choose Outlook > Preferences > Accounts > choose the desired account
Also make sure that you are using the right account type.