Table of Contents

Page #
Acknowledgement 1
Aims and Objectives 2
Methodology 3
esc!i"tion #
Analysis $
%val&ation 1#
'ecommendations 1(
Concl&sion 1)
A""endices 1*
+ibliog!a"hy 3#
1
Acknowledgement
Firstly, it is with gratitude that I recognize God for all the blessings, abilities
and privileges - especially physical and mental ones - which have allowed me to both
commence and conclude this School Based ssessment!
I also wish, secondly, to e"press a sincere appreciation to the teacher of this
wonderful sub#ect, $s!! %ithout the driving force of this individual, the completion of
this assignment would be a most difficult tas& as she thoroughly guided and mentored
me through the various stages of this SB!
'astly, I ac&nowledge my parents who supported me in all of my endeavours
and provided the inspiration and encouragement I needed to fulfil this tas&!
(
Aims and Objectives
)he Barbados )ransport Board was chosen for this School Based ssessment
because of the great value it has to the Barbadian society and economy! In researching
the operations of the Barbados )ransport Board, three main business concepts were
e"plored in an effort to assess, analyse and evaluate the firm!
)he aim of this SB is*
)o investigate the way in which the formation of business ob#ectives affects
the )ransport Board+s ability to cope with change and meet financial
re,uirements!
)he objectives of this SB are*
)o analyse the firm+s ob#ectives!
)o determine the overall reaction to change within the business!
)o determine how the firm is financed and how it manages its debts!
Thesis ,tatement
-By establishing sound business ob#ectives, a firm is able to successfully
implement change and ac,uire the finance necessary for its operations!.
/
Methodology %m"loyed
Information for this assignment was collected by use of "!ima!y and seconda!y
sources!
n interview with the Financial 0ontroller of the Barbados )ransport Board, as
well as a ,uestionnaire consisting of twenty-three ,uestions, was used as "!ima!y
data collection methods-
)he seconda!y so&!ce of !esea!ch was the )ransport Board+s website,
http*11www!transportboard!com! 2n this website, the basic information was gathered
such as*
3ear of founding
4umber of buses
'ocations
4umber of terminals
.imitations/
In carrying out this e"periment in order to formulate this report on the
Barbados )ransport Board, there were a few limitations which impacted on the
reasons for employing the methods of data collection used!
)he ,uestionnaire could not provide all the information re,uired because, by
administering lengthy ,uestionnaires one runs the ris& of several ,uestions
being unanswered!
Some answers had little relation to the ,uestion being as&ed!
'easons fo! %m"loying these Methods
,uestionnaire would be more suitable for the number of ,uestions being
as&ed as well as the number of possibilities listed for each ,uestion!
5
)he formation of a ,uestionnaire is a more efficient way of ac,uiring precise
information!
n interview was used for three ,uestions whose answers were unclear when
the ,uestionnaire was completed! )his was less time consuming and factored
in the verbal interaction that allowed the interviewee to better comprehend the
,uestions being as&ed!
)he website was easier to use and more accessible for any additional
information which was found to be necessary after the interview and receiving
the completed ,uestionnaire!
6
esc!i"tion
)he Barbados )ransport Board was formed by an ct of 7arliament on ugust
(5, 1866! Its mission is -)o be the principal provider of safe, reliable and efficient
transit services and to consistently deliver the highest level of consumer satisfaction to
users of public transport in Barbados.!
7rior to 1866, transportation in Barbados was provided by public
concessionaires which operated on specific routes! 0urrently, however, the )ransport
Board has become a vital part of the economic development of the nation! 'ocated at
9oebuc& Street, Bridgetown, the Board has appro"imately /:5 buses with terminals at
three different locations, a central staging depot and one sub-terminal!
)he ob#ectives of growth and increased mar&et share are paramount to the
organisation+s e"istence! )he ma#or factors that affect change at the Barbados
)ransport Board include consultation with employees as well as clear ob#ectives and
are impacted by political, economic and social changes!
7assive resistance to change is high among the staff mainly because of a fear
of #ob loss and increased wor&load! ;espite this, the firm+s organisational culture
allows for and encourages change in a significant way even though feedbac& is not
considered a ma#or element in the change process!
;ue to the fact that the firm is subsidized by Government, its main financial
re,uirement is for the paying of daily e"penses! %hen capital stoc& of buses needs
replacing, the funds are obtained from the Government+s resources!
<
Analysis
012 3 +&siness Objectives
=ewell >(:::? defines an ob#ective simply as something that we see& to
achieve! t the Barbados )ransport Board, the ob#ectives are growth and increased
mar&et share! @owever, there are several other ob#ectives, corporate ob#ectives as
e"plained in $arcousA et al >(::/?! s shown in )able >? below!
2b#ectives B"planation Implementation in
Barbados )ransport
Board
$a"imising
organisational profit
In the private sector, this is usually
a primary ob#ective as it is done in
the firm+s effort to survive when
threatened in the short-run
1
!
)he Barbados
)ransport Board is
not in the public
sector! )herefore, it
is funded by
Government and
see&s to provide a
service rather than
earn profits! @ence,
this ob#ective is not
implemented!
Growth >size of firm? )he motivation behind this goal is
the desire to see a firm fulfil its
potential and even eliminate
competition >horizontal
integration?!
)he firm aims to
increase the number
of buses it owns and
eliminate or reduce
reliance on route
ta"is and 7SCs
especially on shorter
routes!
1
In the 7ublic Sector most 7ublic 0orporations replace the profit ma"imization ob#ective with goals of
providing essential services!
D
Increased mar&et share )he aim is to control as much as
the mar&ets as possible by having
a mar&eting mi" more successful
than that of competitors!

$a"imising sales
revenue
)he levels at which sales revenue
are determine the salaries and
allowances of staff!
s it is a
Government owned
firm wages are
negotiated by )rade
Enions rather than
sales revenue!
Government+s
ob#ectives and
income tend to
determine the level
of wages!
$a"imising shareholder
revenue
)his usually applies to public
limited companies which aim to
generate increased returns for
shareholders through raising
prices!
)he firm has no
named shareholders
as it is a Government
owned firm see&ing
to provide a public
good
(
!
)able >?* 0orporate ob#ectives and their application to the Barbados )ransport
Board!
;ifferent firms will have different needs, aims and ob#ectives, but ob#ectives
should be sound! Sound ob#ectives, according to =ewell >(:::? should conform to the
,MA'T criteria as shown in )able >B?!
0riteria B"planations
(
public good is one that is non-rivalled and non-e"cludable!
http*11en!wi&ipedia!org1wi&i17ublicFgood!
G
,7B0IFI0 B"actly pertaining to what is needed!
MBSE9B'B
Based on performance-measuring criteria that would
assess whether or not ob#ectives are being achieved!
AG9BB;
)he individuals responsible for achieving the ob#ectives
gree on them!
'B'BC4)
7ertaining to the needs of the organisationH capable of
being achieved within the time and with the resources
available!
TI$B)B'B; 0onstructed with an appro"imated period for completion!
)able B* )able e"plaining the ,MA'T criteria
2f the five areas used in the criterion, the Barbados )ransport Board only chose
relevance to the needs of the organisation, )hough this was the only one chosen, it
may be argued that in setting business ob#ectives, they must consider the specificity,
measurability and time constraints of the ob#ectives!
Mission ,tatement
$ission statements as e"pressed in Stimpson et al >(::D? are attempts to condense the
central purpose of a business+ e"istence into one statement! It is a statement of the
business+ core aims, phrased in a way to motivate employees and to stimulate interest
by outside groups! =ewell >(:::? posits that a well-produced mission statement should
do five things! )able >0? below applies these to the Barbados )ransport Board!
Features pplication to Barbados )ransport Board
2utlines clearly the way
ahead
-)o be the principal providerIof public transport in
Barbados.
7rovide information and
inspiration for employees
-)o be the principal provider ofIhighest level of
customer satisfactionI.
Identifies what the
organisation will be in the
future
-)o be the principal provider ofI.
;efines success -Ithe highest level ofI.
7rovides a statement that -)o be the principal provider of safe, reliable, and
8
can be used as a goal or
ob#ective
efficient mass transit services and to consistently deliver
the highest level of customer satisfaction to users of
public transport in Barbados.!
)able 0* )able applying features of a well-produced mission statement to that of the
Barbados )ransport Board
0112 3 Change Management
=ewell >(:::? outlines some features of organisations which are more
receptive to change! Four of these features were used in the ,uestionnaire! )hese
included*
1? Fre,uent consultation with employees
(? )rust
/? 9etraining facilities
5? 0lear ob#ectives
Figure 1 shows how each was ran&ed on a scale of 1 to 6 within the Barbados
)ransport Board!
1:
In the Barbados )ransport Board, it is clear that the implementation of three of these
features is poor in that the highest level of relevance of the four is three on a scale of
one to five!
4at&!e of Change
Figure 1: Graph showing the levels at which
four
features of organizations receptive to change
are
implemented in the Barbados Transport Board.
0
1
2
3
4
5
1 2 3 4
Feature
L
e
v
e
l

o
f

I
m
p
l
e
m
e
n
t
a
t
i
o
n
11
Stimpson et al >(::D? point out that there are ways that the nature of change
may be manifested within a business in its lifetime! )hese changes and their
applications to the Barbados )ransport Board are e"plained below in )able >;?!
4ature B"planation pplication to Barbados
)ransport Board
7olitical 7olitical and governmental
factors affect organisations and
stimulate change through shifts
in policy encouraging or
discouraging control, protection,
intervention and regarding
financial assistance!
s a Government owned firm,
political changes are prevalent
in that there will be increased
Government intervention in a
situation where the firm+s
survival is threatened! )here is
also protection through subsidies
as the Government would see&
to lower production costs while
stimulating provision and
consumption!
Bconomic )his deals with changes in the
e"ternal environment and
involves concepts such as
demand, supply, ta" rates and
income distribution levels!
;epending on the income, the
elasticity of demand for public
transport would change because,
if income decreases, the ,uantity
demanded will increase because
public transport is an inferior
good!
Social )his refers mainly to the changes
in social structure whether it is a
change in demographics or the
actual lifestyle and culture of
society!
In terms of the lifestyle, there
are fewer young wor&ers as
most individuals are see&ing
higher education! )herefore, the
number of young individuals
entering the labour force and
hence, being employed at the
firm, may very well decline!
)echnological dvances in technology can
result in improved goods and
If the firm were to employ new
machines which would ma&e the
1(
services! maintenance process easier and
more efficient, retraining of staff
would be necessary so as to
ensure this nature of change may
be coped with! For e"ample* by
replacing conductors with fare
bo"es, many employees had to
be trained to operate the bo"es
efficiently!
'egal )his generally spea&s to
regulations and restrictions by
Government!
@ealth and safety laws have
been implemented not only for
the #ob site but on the vehicles to
ensure that a limited number of
persons travel on each bus!
)able ;* )able e"plaining the nature of change and as applied to the Barbados
)ransport Board
'eaction and 'esistance to Change
=ewell >(:::? outlines the possible reactions to change within the organisation!
)he Barbados )ransport Board e"periences all of the reactions from its employees!
@owever, acceptance and active resistance are at a minimum, but indifference and
passive resistance are very dominant! Bmployees are reluctant to contribute and
strictly wor&-to-rule when the change process is occurring!
)hese reactions must be a result of underlying issues which =ewell >(:::? also
lists! 2f these, five were chosen and ran&ed by a member of the $anagement )eam at
the Barbados )ransport Board! )hese included*
1? Fear of #ob loss J (6K
(? ;issolution of wor&ing groups J 1/K
/? Inability to ad#ust J (6K
1/
5? 'oss of power J <K
6? $isunderstanding of the nature of change J /1K
Figure ( demonstrates the e"tent to which each is responsible for the reactions to
change in the firm under analysis!
From Figure ( above, it can be seen that a misunderstanding of the nature of change
caused the greatest resistance to the change, while loss of power caused the least
resistance!
5ays to Ove!come 'esistance to Change
=ewell >(:::? e"plains that there are several strategies to overcome change!
)he firm being analysed only utilises one of these strategies! $anagement at the
Barbados )ransport Board only communicates the need for change to the wor&force!
@owever, educating them about the positive aspect of change, having mutual trust,
15
ensuring there is participation and involvement and getting their support from the
inception can help a firm overcome resistance! 4egotiation and agreement through
incentives as well as providing counselling and retraining facilities are also resistance-
con,uering strategies as outlined by =ewell >(:::?!
01112 6 4eed fo! 7inance
Stimpson et al >(::D? state that finance is re,uired for many business activities
which can include setting up the business, e"panding, paying for e"penses, research
and development and the day-to-day running of the business! )he Barbados )ransport
Board only re,uires finance for all of the above but, because of subsidization by
Government, these costs are mainly covered by the Government, leaving them only to
pay for e"penses! )herefore, management does not have to devote a great deal of
concern to sourcing finance because Government covers any deficit which cannot be
covered by revenue!
)he finance for this firm is usually short-term, that is, one year or less! )his
means that it is sourced from ban& overdrafts rather than creditors or debt factoring as
they do not apply to the type of business being analysed!
$arcousA et al >(::/? define the acid test ratio as a ratio e"amining the
business+ li,uidity position by comparing current assets and liabilities, but omits stoc&
from the total of current assets since stoc& is the most illi,uid current asset! It is
recommended by professionals that the ideal ratio be appro"imately 1*1 to suggest
that the firm is meeting short-term payments! )he Barbados )ransport Board+s ratio is
less than 1*1 which implies cash flow problems and the inability to cover current
costs!
16
%val&ation
)he Barbados )ransport Board has, in its establishment, created a vision and a
main ob#ective to ensure that there is a sense of purpose for its employees and a goal
to wor& towards! From the responses given to certain ,uestions on the ,uestionnaire,
its ob#ectives are only described as -relevant to the needs of the organisation.! %hen
mapped against the S$9) criteria, this spells a problem for the organisation! It
suggests that there is no way for performance to be measuredH the ob#ectives do not
outline e"plicitly what needs to be achieved, how and by what time!
0onversely, it is not possible for an ob#ective, in practice, nor theoretically, to
merely be Lrelevant+! ny ob#ective has to be specific, measurable and timetabled! It
is possible though, for an ob#ective not to be Lagreed upon+ in that, in many cases,
some sta&eholders are unaware of the business+ ob#ectives!
lso, the $anagement by 2b#ectives system is not implemented which means
that performance gaps may e"ist within the firm as the overall aim is not divided to
create specific targets for each department! )his also points out the absence of a
hierarchy of ob#ectives so the overall goal cannot be bro&en into strategies and tactics
and it is not possible to measure performance!
)he firm employs moderate consultation with employees, but &eeps trust at a
low level! 9etraining facilities and clear ob#ectives are very low as they were rated 1
out of 6! In analysing and evaluating how this firm manages, leads and copes with
change, it can be said that the low implementation of trust, retraining facilities, clear
ob#ectives and consultation with employees are somewhat responsible for the firm+s
inability to react positively to change! )herefore, when fare bo"es were implemented,
because of the lac& of retraining facilities, trust, communication and clear ob#ectives,
this change was a difficult one at the firm! )he conductors would have had a negative
reaction to the change because it may have been sudden and they feared #ob loss! )he
drivers, however, were also reluctant in that they would have to change routines and
habits for this change to be implemented successfully!
1<
ll aspects of the nature of change need to be coped with by this government owned
organisation but communication is the only medium through which change is
promoted! )heir communication system does not allow for feedbac& but ensures that
all sta&eholders are briefed! $anagement tries to motivate employees to embrace
change through this medium! @owever, overall reaction to change in the business is
poor! )his is mainly because of the misunderstanding of the nature of change and
various personal insecurities such as fear of #ob loss and the inability to ad#ust!
)he firm+s financial re,uirements are met by the Government which owns and
subsidises it! )his implies that Government will finance and support any unprofitable
operations through ta"ation receipts! )his enables them to pay for short-term any
e"penses! )he day-to-day running of the firm, however, is funded by ban& overdrafts!
'osses in this sector are not seen as management+s inability to ma&e sound financial
decisions, but are acceptable as costs almost always e"ceed revenue! )his is so
because prices are seldom charged to cover costs and ma&e a profit at the same time!
Government may impose spending limits if financial deficits are too e"cessive
/
!
'ecommendations
/
;earden M Foster >188/?
1D
Based on the information gathered in the ,uestionnaire and the comparison of
the results to the literature, there are certain recommendations which could be made to
the Barbados )ransport Board!
It is recommended that ob#ectives be formulated as closely as possible to the
S$9) criteria and be bro&en down into strategies and tactics for each
department within the firm! )his should be done in an effort to ensure that the
wor&force is motivated and coordinated!
By altering the ob#ectives and motivating the wor&force, the firm should also
aim to establish better wor&er-management relations employing trust,
delegation, participation and consultation so that when there is a need for
change, it may be implemented as successfully as possible by removing the
ma#or stressors!
)he Barbados )ransport Board should assess any overhead costs li&e
advertising or professional labour and ma&e the best of any opportunity to
reduce them! It should also sell any assets which are not generating revenue!
)hese should be done in an effort to improve the firm+s li,uidity!
Concl&sion
1G
fter studying, analysing and evaluating the Barbados )ransport Board, it can
be concluded that the establishment of ob#ectives can affect all aspects of the
organisation including the ability or inability to cope with change and fulfil financial
re,uirements! ll aims were met as the firm+s ob#ectives were analysed, proving that
they did not align with the S$9) criteria outlined in =ewell >(:::?! )he negative
reaction to change was identified as well as the Government as the firm+s main source
of finance!
A""endi8 0A2 6 .ite!at&!e 'eview
18
+&siness Objectives/
Jewell (2000) defines an ob#ective as something that we see& to achieve! n
ob#ective is necessary in order to accomplish a variety of things including determining
a strategy and motivating employees! 2b#ectives can come in three forms* strategic,
operational and tactical! Strategic ob#ectives relate to the productivity of the firm,
which tactical ob#ectives are short-term targets and operational ob#ectives are
statements used to define outcomes to be achieved!
2b#ectives should adhere to the ,MA'T criteria! )his simply means that
ob#ectives should be*
1? ,pecific J to the organisation+s needs
(? Measurable J in terms of using a performance measuring system
/? Agreed J persons responsible for achieving ob#ectives have all argeed
5? 'elevant J to the organisation and capable of achievement
6? Timetabled J constructed with a signpost for fulfilment
Stimpson & Mohammed (2007) outline several common ob#ectives of the business
ranging from increasing mar&et share to concentrating on core activities! )hey e"press
that the $anagement by ob#ectives system which is -designed to motivate and co-
ordinate a wor&force by dividing the organisation+s overall aim into specific targets
for each divisionI. can cause delegation and motivation to be very effective!
Management of Change/
Marcous et al (2003) provide that -I0hange is a permanent characteristic of
business activityIin some cases it can be anticipatedIin others it is une"pected!.
Jewell (2000) outlines some e"ternal and internal pressures for change must be
identified! )hese were listed as competition, changes in technology, employees+
e"pectations and the financial environment! @owever, in practice, some organisations
(:
will be more receptive to change than others! )his could be as a result of an
organisation employing trust, retraining facilities, management-employee consultation
and ultimately by establishing clear ob#ectives!
Stimpson & Mohammed (2007) e"plain that there are several ways that the
Lnature of change+ may be manifested within a business! )hese include* political,
economic, social, technological and legal!
7olitical* 7olitical and governmental factors affect organisations and stimulate change
through shifts in policy encouraging of discouraging control, protection, intervention
and regarding financial assistance!
Bconomic* )his deals more so with changes in the e"ternal environment, that is, the
interaction between economies in the global mar&et! )his involves concepts such as
demand, supply, ta"ation, subsidization and distribution of wealth or income!
Social* 0hanges which are caused mainly by changes in social status, lifestyle, culture
and even age fall into this category!
)echnological* %hen innovation and invention occur, change occurs as well, causing
technology to evolve! )his ranges from improved good and services in a mar&et to
faster and more efficient ways of completing various organisational processes!
'egal* ny regulations or restrictions placed on an organisation which is bound by the
laws of that land are seen as legal changes! Esually, Government would impose such
in an effort to ensure fairness in trade, safety and health on the #ob and with the
welfare of society in mind!
Reaction and Resistance to Change*
(1
Jewell (2000) outlines possible reactions to change within an organisation!
0hange can be handled with* acceptance, indifference, passive resistance or active
resistance!
cceptance* )his would occur in situations where employees and all parties impacted
by the change are enthusiastic about the change being implemented it and are willing
to cooperate with management to ensure that it is successful!
Indifference* Bmployees may in some cases e"press a lac& of concern and be
unresponsive to the changes in progress! )his could be mainly e"ecuted through
minimal contribution to organisational activities surrounding the change being
implemented!
7assive 9esistance* Some individuals in the wor& environment would resist by being
inactive! )hey may tend to present a non-learning attitude to the #ob or strictly wor&-
to-rule in an attempt to avoid submitting to the change being implemented!
ctive 9esistance* Slowing down, absenteeism, sabotaging, intentionally ma&ing
errors are attributes of this type of reaction to change! )he change may be viewed as
illogical and wor&ers may be upset or offended by the suggested change! )his would
result in their resistance!
Change is resisted ecause!
Jewell (2000) e"presses that analysing why change occurs is essential! @e outlines
organisational barriers include*
1? Structuring inertia J complacency and belief that change will destroy the logic
behind current ways of operation
(? B"isting power structure J those with little power will feel most threatened by
change! If there is no ability to participate or ma&e decisions, one may be more
threatened by the change!
((
/? 9esistance by wor& groups J change will negatively impact wor& groups
through promotion, demotion or transferral!
Reasons "or resisting change!
Fear of change* =ob security is threatened by change and because the nature is not
properly communicated to employees, fear plays an integral part in resistance!
;isrupted habits* )he methods used to complete a tas& may need to be revised and the
employee may find it difficult or be unwilling to Lbrea& away+ from redundancy!
'oss of control and confidence* )he power an individual has at his1her #ob influences
their confidence! %hen manual labour is replaced by machinery or authority is
reduced, employees lose control and confidence and would therefore oppose the
change!
7oor training* Staff may not be provided with the s&ills needed to deal with new
technology and systems!
9edistribution of wor&load* 4ew tas&s, systems and ob#ectives can result in wor&ers
feeling as though they have been overburdened with wor& when other colleagues
seem to have less!
'ac& of purpose* 0hange tends to leave some people unsure and insecure! If they
were e"cluded from the change process and their new role is not defined they may
suffer lac& of purpose! Stimpson & Mohammed (2007)
9esistance can derail the change process! )he greater involvement, the greater the
probability of acceptance and contribution by wor&ers is! Stimpson & Mohammed
(2007)
)his resistance must be avoided and can be done by*
(/
1? Increasing urgency!
(? Building the team responsible for guiding1leading the change process!
/? Bstablishing a vision identifiable by future staff!
5? 0ommunicating and involving as many employees as possible
6? 9emove obstacles to change by encouraging feedbac& and empowering
employees!
<? 0reate short-term aims that are relatively easy to achieve
D? Bncourage determination and persistence!
G? $a&e change permanent by recruiting and promoting change leaders!
Communication and Change!
Good communication plays a vital role in allowing change to be effectively
introduced within an organisation! %ith two-way communication absent, the chances
of change being delayed and resisted is greater! Stimpson & Mohammed (2007)
4eed fo! 7inance/
Finance is re,uired for several business activities! )hese can include the
following*
a) Setting up* business will need in#ections of cash from owners to purchase
the necessary capital e,uipment and even premises! )his is &nown as start#up
capital!
) ;ay-to-day finance* ll businesses need wor&ing capital to pay for bills and
e"penses and to build up stoc& levels!
c) Increasing capital assets* )his is e"pansion and re,uires further finance and
can involve higher wor&ing capital needs!
d) B"pansion* Finance may be re,uired to by out other firms to increase mar&et
share!
e) 9esearch and development* part from purchasing assets, an organisation
must pay for research and development into new products and even invest in
(5
new mar&eting strategies such as overseas mar&ets! Stimpson & Mohammed
(2007)
A""endi8 0+2 6 9&estionnai!e
(6
1! %hat is the legal name of your businessN
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(! %hat is the aim of your businessN
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/! %hat is the mission statement of your businessN
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5! 0hec& the appropriate bo"es below which describe your organisation+s
ob#ectives!
Specific J clearly states re,uirements
$easurable Jbased on criteria which measures their efficiency
greed J all persons responsible for achieving goals agree
9elevant J to the needs of the organisationH realistic
)imetabled J date for fulfilment and completion
2ther, please specify*
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6! %hich of the following are some of the ob#ectives of your business enterpriseN
7rofit ma"imisation
Growth
Increased mar&et share
(<
$a"imising sales revenue
$a"imising shareholder revenue
2ther, please specify*
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<! Esing a scale of 1 to 6, with 1 being the least and 6 the greatest, assess the
relevance of the following limitations of the above ob#ectives to your firm!

$a"imising profits*
Focus on profits in the short-term increase competition and threaten
long-term survival! FFFF
0onstant changes to price and output in an effort to ma"imise profits
deter consumption or decrease demand! FFFF
Growth*
9apid e"pansion may cause cash flow problems! FFFFF
'arger businesses can e"perience diseconomies of scale FFFFF
D! ;efinition* $B2 - $anagement by 2b#ectives J )his refers to a system where
the ob#ectives of the firm are not only written but used in every day life on the
#ob! )he system allows for individuals to compare their performances to the
goal and eliminate performance gaps!
Is this system implemented in your organisationN
3es 4o
G! In your opinion, does it motivate employeesN
3es 4o
(D
7o! :&estions * to 12, on a scale of 1 to 6, where 1 is the least and 6 the greatest,
assess the impact, relevance of the following where your organisation is concerned!
8! %hich of the following e"ist within your firmN
Fre,uent consultation with employees FFFF
)rust FFFF
9etraining facilities FFFFF
0lear ob#ectives FFFFF
1:! %hich natures of change does your business have to cope withN
7olitical >Government intervention and protection? FFFFFFF
Bconomic >the e"ternal economic environment? FFFFFFF
Social >societal structure? FFFFFFF
)echnological FFFFFFF
'egal >regulations? FFFFFFF
11! %ithin your firm, what are the reactions to changeN
cceptance FFFFFF
9esistance >passive? J non-learning behaviour FFFFFF
9esistance >active? J slowing downH sabotage FFFFFF
Indifference J lac& of interest, care or concern FFFFFF
1(! %hich of the following do you thin& account for the various reactions to
change in your firmN
Fear J whether of #ob loss or increased wor& load FFFFFF
;issolution of groups J being sent to a different department FFFFFF
(G
Inability to ad#ust FFFFFF
'oss of power FFFFFFF
$isunderstanding the nature of the change FFFFFF
1/! In which of the following ways does your organisational culture promote
changeN )hrough*
Bducation
0ommunication
7articipation
2ther, please specify*
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15! In which of the following ways does $anagement motivate employees to
accept positive sides of changeN
0larify intentions
Group discussions
;emonstrations
2ther, please specify*
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16! On a scale of 1 to #; whe!e 1 is the least and # the g!eatest; ran& the
suitability of the following to the communication system implemented in your
organisation!
Feedbac& to assess change FFFFF
Investors and shareholders 24'3 to be briefed on change FFFFF
$essages to be as clear and precise as possible FFFFF
(8
1<! In which of these circumstances is finance >capital? re,uired for your firmN
B"pansion
LBuying out+ other firms
)o pay for e"penses
9esearch and development
2ther, please specify*
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1D! re your financing needs mainly short-term >1 year or less? or long-term >1 to
6 years?N
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1G! %hich of the following ways was start-up capital ac,uiredN
7ersonal savings
Ban&s
Investments by venture capitalists
Government agencies
18! @ow is wor&ing capital ac,uiredN
2verdrafts
0reditors
(:! Esing figures from a previous cid )est 9atio, describe the business+ li,uidity!
B"cellent J /*1 and up
/:
Good J (*1
Fair J 1*1
7oor J less than 1

A""endi8 0C2 3 ,tatement of 7indings
Mod&le 1/ +&siness Objectives
/1
The aim<vision of this fi!m/
-)he )ransport Board shall be an e"emplary transportation institution, e"hibiting the
highest standards of e"cellence and contributing to the social and economic landscape
of Barbados and in so doing assist in the sustainable development of the nation.!
The mission statement of this fi!m/
-)o be the principal provider of safe, reliable, and efficient mass transit services and
to consistently deliver the highest level of customer satisfaction to users of public
transport in Barbados.!
The objectives of this fi!m/
)he ob#ectives are only relevant to the needs of the organisation! )hese include*
Growth
Increased mar&et share
)wo great limitations of their growth ob#ective are that*
9apid e"pansion may cause cash flow problems!
s a larger business, they can e"perience diseconomies of scale!
@owever, the $anagement by 2b#ectives system is not implemented in the Barbados
)ransport Board!
Mod&le 2/ Management of Change
7acto!s which affect Change/
/(
It was found that all of the following e"isted within the firm but, at different levels!
12 0onsultation with employees is mode!ate!
22 )rust, clear ob#ectives and the presence of retraining facilities are at a ve!y
low level-
The nat&!e of Change/
)his business is impacted on by several different factors causing change but, at
different levels!
1? 7olitical change - government intervention and protection J has a very high
impact on the )ransport Board!
(? Bconomic J the state of the e"ternal economy J has a moderate impact on the
)ransport Board!
/? Social, technological and legal natures of change have very little impact on the
)ransport Board!
The !eactions to Change/
%ithin the Barbados )ransport Board, employees react to change in four >5? different
ways!
1? cceptance is very low
(? 7assive resistance is high
/? ctive resistance is very low
5? Indifference is very high
//
$anagement believes that there are several reasons for this behaviour by employees!
1? Fear of #ob loss and increased wor& load
(? ;issolution of wor& groups
/? $isunderstanding of the nature of change
5? 'oss of power
6? Inability to ad#ust
lso, communication is the method by which the firm+s organisational culture
promotes change! s a result, management motivates employees to see change as
positive by*
0larifying intentions
Group discussions
)he type of communication system implemented in the Barbados )ransport Board
allows for*
$essages to be clear and precise
It however does not allow for feedbac& to assess the change or for investors and
shareholders 24'3 to be briefed on change!
Mod&le 3/ The 4eed fo! 7inance
7inancial 'e:&i!ements/
)he Barbados )ransport Board re,uires finance mainly to pay for e"penses! Such
needs are short-term as they last one year or less!
,ta!t3&" and 5o!king Ca"ital/
Start-up capital was ac,uired solely through Government financing! %or&ing capital,
however, is ac,uired by overdrafts!
/5
%hen assessing the firm+s li,uidity, it was found that its ratio was poor because the
firm has less than O1 in assets for every O1 in liabilities!
+ibliog!a"hy
=ewell, B >(:::?! An 1nteg!ated A""!oach to +&siness ,t&dies! 7earson
Bducation 'imited!
/6
$arcousA, I!, Suridge, $ M Gillespie, >(::/?! +&siness ,t&dies fo! A
.evel! 2"ford ;esigns and Illustrations!
Singh, P M Stimpson, 7 >(::D?! CAP% Management of +&siness =nit 1!
0ambridge Eniversity 7ress!
;earden, 0 M Foster, $ >188/?! O!ganisational ecision Making! 'ongman!
http*11en!wi&ipedia!org1wi&i17ublicFgood 9etrieved pril (1, (::8!
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