Patricia Maritoni S.

Ayson
Grade 12 ABM- St. Alice

Organization and Management

SSA #3

1. Discuss two areas in the firm.

Human Resource Management and Financial Management are two out of seven
areas in a business firm.

Human Resource Management is the area in which you manage the roles or tasks
to distribute to the employees working inside the business. In this area, it is crucial for
you to know you employees so that you can give them the job that suits them the best.
This will allow them to work efficiently to their fullest potentials, and this will ensure that
the business can run smoothly and effectively.

As for Financial Management, this is the area where you handle all the finances in
the business. From dividing salaries, organizing funds, and everything else relating to
finance in included in this area of the firm. It is crucial that one who belongs in this area
should remember that the business will still be able to sustain sufficient profit with every
financial management at the end of the day.

2. Give three challenges in sole proprietorship business.

Since sole proprietorship business is a business that is owned by only one person,
there are quite a few challenges that comes along with it. (1) A sole proprietor oversees
and shoulders all the of funds that will be used to establish and continue the business.
This alone can be a heavy load since you will provide the all the needs in your business
by yourself. (2) Being alone can make you feel demotivated. With owning a business by
yourself, it is highly possible to want some company as this is how the human body
naturally works. And finally, (3) your business’s continuity cannot be ensured. Since you
are alone, no one is in charge of the business but you and you alone.

3. Why is organizational structure important in business?

Organizational structure is important in business because this structure keeps the

business going and keeps the business stable. This structure divides the workers to
work in certain, specific tasks to avoid any conflicts with other tasks. This will allow them
to focus on one work at a time, keeping them organized so that the business can run
effectively.
 4. Give two advantages in corporation business.

Corporation business is the business where it is owned by many people who are
also known as shareholders. There are many advantages that comes in owning a
corporation business. (1) Corporation businesses requires everyone to oversees the
funds of the business. This allows them to share smaller funds for the business unlike in
sole proprietorship where the owner shoulders all the funds of the business. (2)
Corporation businesses ensures continuity. With many people as the owners of the
business, the corporation business can easily be passed down to continue for as long
as time goes.