BUSINESS AND MANAGEMENT HOMEWORK

2022 - 2023
NOMBRE: ______________________________________ 1ERO. EGB: _____
DOCENTE: Tatiana Barzallo Carrillo FECHA: ___/___/_____

Instructions:
Use internet or any other resources to complete these questions in class we are
going to go through each one.
You can answer them in this document make sure to print before the class.
You can also answer in your notebook.
It is important to participate during the class review.
DUE DATE: SEPTEMBER 5th, 2022 (LETTER H)- OCTOBER 3RD, 2022 (LETTER L)

Research questions:
1. Organizational objectives
a. What are organizational objectives?
A human resources objective could be to reduce employee turnover by 20
percent by introducing a new employee-assistance program. Another objective
could be to improve productivity by implementing a company-wide training
program. The staffing of an organization is also a focus of human resources.

b. What are aims, objectives, plans and strategies?

An aim is where the business wants to go in the future, its goals. It is a
statement of purpose, e.g. we want to grow the business into Europe.
Business objectives are the stated, measurable targets of how to
achieve business aims.
Strategic objectives are statements that indicate what is critical or
important in your organizational strategy. In other words, they're goals
you're trying to achieve in a certain period of time—typically 3-5 years.
Your objectives link out to your measures and initiatives.
i. Definition each.
c. Differences between aims and objectives (5)

 The term aim is described as the ultimate goal, which an individual or the entity
strive to achieve. The objective is something a person/entity seeks to achieve,
by continuously chasing it.
 The aim of the entity reflects its long-term outcomes while its objectives indicate
the short term targets of the entity.
 Aim refers to the general direction or intent of an individual/company. On the
other hand, the objective is the specific goal of an individual or company.
 .The aim is related to the company’s mission and purpose whereas objectives
are concerned with the achievements of the company.
 Aim answers the question, what is to be achieved? Unlike objective which
answers, How it is to be achieved?

d. Define
i. Tactical objectives
 BUSINESS AND MANAGEMENT HOMEWORK
2022 - 2023
NOMBRE: ______________________________________ 1ERO. EGB: _____
DOCENTE: Tatiana Barzallo Carrillo FECHA: ___/___/_____

The tactical objectives, (Rescue, Fire Control, Property

Conservation) are clear, measurable, and obtainable objectives.
Completion and priority of the objectives is directly correlated to
the size up, risk management and conditions of the incident.
ii. Strategic objectives
Strategic objectives are high-level goals outlining what an
organization wants to achieve, with a clearly stated deadline.
Strategic objectives populate your plan's Focus Areas and are
very specific. Each strategic objective contributes to at least one
strategic Focus Area and, once completed, is replaced by
another.
e. Differences between strategic and tactical objectives

 Tactics are the properly organized actions that help to achieve a certain end.
The strategy is the integrated plan that ensures the achievement of organization
objectives.
 Tactics is a subset of strategy, i.e. without the strategy, tactics can do nothing.
 Tactics try to find out the methods through which strategy can be implemented.
Conversely, Strategy is a unified set of activities that can help the organization
to gain an advantageous position.
 Tactics are formulated by middle-level management, whereas top level
management formulates a strategy.
 Tactics involve lower risk as compared to strategy.

f. Corporate objectives
i. Definition
Corporate objectives are those that relate to the business as a
whole. They are usually set by the top management of the
business and they provide the focus for setting more detailed
objectives for the main functional activities of the business.
g. Common objectives
i. Definition of:
1. Profit maximization
Profit maximisation is a process business firms undergo
to ensure the best output and price levels are achieved in
order to maximise its returns. Influential factors such as
sale price, production cost and output levels are adjusted
by the firm as a way of realising its profit goals.
2. Profit satisficing
Satisficing behaviour is an alternative business objective
to maximising profits. It means a business is making
enough profit to keep shareholders happy or it's sufficient
for investors to maintain confidence in the management
they appoint.

3. Growth
 BUSINESS AND MANAGEMENT HOMEWORK
2022 - 2023
NOMBRE: ______________________________________ 1ERO. EGB: _____
DOCENTE: Tatiana Barzallo Carrillo FECHA: ___/___/_____

Business Growth is a stage where the business reaches

the point for expansion and seeks additional options to
generate more profit. Business growth is a function of the
business lifecycle, industry growth trends, and the
owners desire for equity value creation.

4. Increasing market share

To increase market share means increasing the effort
you put into sales as a business, and using new or
additional strategies to help you get there. Market share
is the percent of total sales in an industry generated by a
particular company.
5. Survival
Business survival refers to keeping the business
operating for a certain amount of time, especially when
some crisis situation comes.
h. Conflicts between corporate objectives
A conflict of objectives exists when individual objectives contradict each
other in part or as a whole and cannot be fully achieved as a result. In
other words, there is a competing relationship between the goals – also
referred to as goal rivalry. The desirable, positive counterpart is a
compatible goal relationship.
i. Factors determining corporate objectives
Attitude to Profit - Is the business run to earn profits or it is not-for profit?
Ethical Stance - Do ethics play a role in a business' decision-making?
Organisational Culture - How is the business structured? How are
objectives set and decisions taken?
i. Define
1. Corporate culture: is the collection of values, beliefs,
ethics and attitudes that characterize an organization and
guide its practices
2. Size and legal form of business: The legal form a firm
chooses to operate under is an important decision with
implications for how a firm structures its resources and
assets.
3. Public sector o private sector business: The most
significant difference between the private and public
sectors is the ownership of the organizations within
them.
4. Well-established business:firmly established, especially
because of a long existence.
j. Changing business objectives
i. Define

There are many environmental factors that can cause business objective to change at
any time. Due to competitive changes in economic environment caused by new
 BUSINESS AND MANAGEMENT HOMEWORK
2022 - 2023
NOMBRE: ______________________________________ 1ERO. EGB: _____
DOCENTE: Tatiana Barzallo Carrillo FECHA: ___/___/_____

powerful competitors entering into the market, business objectives might change from
profit maximization to survival.

k. Ethical objectives
i. Define ethic: a set of moral principles, especially ones relating to or
affirming a specified group, field, or form of conduct.a set of moral
principles, especially ones relating to or affirming a specified group,
field, or form of conduct.
ii. Two examples of ethic objectives: being honest when calculating
costs and profit, paying fair salaries to the employees, providing
safe working environment for production workers or righteously
buying raw materials from suppliers.
iii. Two examples of unethical behavior:
● Someone lies to their spouse about how much money they spent.
● A teenager lies to their parents about where they were for the evening.

l. Corporate social responsibility CRS

i. Definition
Corporate social responsibility (CSR) is a self-regulating
business model that helps a company be socially accountable to
itself, its stakeholders, and the public.
ii. Example
● Reducing carbon footprint.
● Engaging in charity work.
● Purchasing fair trade products.

iii. Benefits and disadvantage of CRS

Avantages:
● Profitability and Value
● Better Customer Relations

Disadvantages:
● CSR Costs Money to Implement
● Conflicts with the Profit Motive

Instructions:
Use internet or any other resources to complete these questions in class we are
going to go through each one.
You can answer them in this document make sure to print before the class.
 BUSINESS AND MANAGEMENT HOMEWORK
2022 - 2023
NOMBRE: ______________________________________ 1ERO. EGB: _____
DOCENTE: Tatiana Barzallo Carrillo FECHA: ___/___/_____

You can also answer in your notebook.

It is important to participate during the class review.
DUE DATE: OCTOBER 3RD 2022
Research questions:

2. Ansoff matrix
a. What is the definition
The Ansoff Matrix, often called the Product/Market Expansion Grid, is a
two-by-two framework used by management teams and the analyst
community to help plan and evaluate growth initiatives. In particular, the
tool helps stakeholders conceptualize the level of risk associated with
different growth strategies.
b. How many parts are in the Ansoff matrix?
4 parts
c. Mention and define each part
 Market Penetration (lower left quadrant). This is the safest of the four options.
Here, you focus on expanding sales of your existing product in your existing
market: you know the product works, and the market holds few surprises for
you.
 Product Development (lower right quadrant). This area is slightly more risky,
because you're introducing a new product into your existing market.
 Market Development (upper left quadrant). Here, you're putting an existing
product into an entirely new market. You can do this by finding a new use for
the product, or by adding new features or benefits to it.
 Diversification (upper right quadrant). This is the riskiest of the four options,
because you're introducing a new, unproven product into an entirely new
market that you may not fully understand

d. What is the main purpose?

The Ansoff Matrix, often called the Product/Market Expansion Grid, is a
two-by-two framework used by management teams and the analyst
community to help plan and evaluate growth initiatives.
e. What are market positions?
f. What is the importance of the matrix in business?
A decision matrix can help you not only make complex decisions, but
also prioritize tasks, solve problems and craft arguments to defend a
decision you've already made. It is an ideal decision-making tool if you
are choosing among a few comparable solutions with multiple
quantitative criteria.
g. One example

 The best way to understand Ansoff matrices and Ansoff models is to look at
some examples.
 BUSINESS AND MANAGEMENT HOMEWORK
2022 - 2023
NOMBRE: ______________________________________ 1ERO. EGB: _____
DOCENTE: Tatiana Barzallo Carrillo FECHA: ___/___/_____

 Click on any of these Ansoff matrices included in SmartDraw and edit them:
 BUSINESS AND MANAGEMENT HOMEWORK
2022 - 2023
NOMBRE: ______________________________________ 1ERO. EGB: _____
DOCENTE: Tatiana Barzallo Carrillo FECHA: ___/___/_____

Instructions:
Use internet or any other resources to complete these questions in class we are
going to go through each one.
You can answer them in this document make sure to print before the class.
You can also answer in your notebook.
It is important to participate during the class review.
Research questions:
DUE DATE: OCTOBER 17th, 2022
3. Stakeholders
a. What are stakeholders?
Stakeholders are individuals, groups or organisations directly involved
with, or indirectly affected by, a project, product, service or enterprise.
As such, stakeholders likewise impact why and how a company does
business.
b. What are internal stakeholders?
Internal Stakeholders are those parties, individual or group that
participates in the management of the company. They can influence and
can be influenced by the success or failure of the entity because they
have vested interest in the organisation.
c. Who can be internals stakeholders?
Internal stakeholders include employees, owners, shareholders, and
managers. They are simply anyone within the organization. By contrast,
external stakeholders include suppliers, governments, customers, trade
unions, and creditors. These are people and organizations that are
outside of the business.
d. What are external stakeholders?
External stakeholders are those who do not directly work with a
company but are affected somehow by the actions and outcomes of the
business. Suppliers, creditors, and public groups are all considered
external stakeholders.
e. Who can be externals stakeholders?
External stakeholders include clients or customers, investors and
shareholders, suppliers, government agencies and the wider
community. They want the company to perform well for a multitude of
reasons.
f. What are the business responsibilities to stakeholders?
Here's what we argue: The social responsibility of business is to create
value for stakeholders. That means its customers, suppliers, employees,
and communities, as well as its shareholders.
g. What is stakeholder’s conflict?
is a condition in which different stakeholders have incompatible goals. It
creates a “problem” for the company because this can affect its
 BUSINESS AND MANAGEMENT HOMEWORK
2022 - 2023
NOMBRE: ______________________________________ 1ERO. EGB: _____
DOCENTE: Tatiana Barzallo Carrillo FECHA: ___/___/_____

performance and success. Conflict requires companies to effectively

manage stakeholder interests.
h. What are mutuals benefits of stakeholder’s interest?
rewarding employees by linking their performance to business
success using share options and performance-related pay. involving
more stakeholders in the decision-making process. improving channels
of communication between stakeholder groups.
i. What are the possible conflicts of interest between stakeholders’
groups?
The interests of different stakeholder groups can conflict. For
example: owners generally seek high profits and so may be reluctant to
see the business pay high wages to staff. a business decision to move
production overseas may reduce staff costs.
j. What can be methods to reduce stakeholder’s conflict?

 Find people project roles that best match their interests and talents.
 Always treat people with respect, even when tempers rise.
 Give praise often, especially when you notice positive behavior.
 Provide training and coaching to all involved.