The Google translation is incorrect. We say "Молодец" as an interjection when we praise somebody. The English equivalents are Well done! Great job! That's good! For children, cats and dogs -Good boy! Good girl! It can only be used in informal situations.

There are two pretty close but nevertheless different meanings: 1. Молоде́ц means attaboy!, attagirl!, well done! 2. Мо́лодец means a young man. This one a bit old fashioned. Both of them can be used in polite conversation, but they are informal.

Молодец is well done. For example, Молодец! Ты очень хороший студент! - Well done! U are a good student. If you want more information to learn Russian, check this Youtube channel, where you can find useful information for you. http://www.youtube.com/channel/UCC2Bt2rxY7-19ywalxTHevg

We usually use this word as a praise with the meaning: "a good, clever man". It's applied to the person who has done the work bery well or behaved well.

Basically this word is used to say "well done"