1. A.

Financial Management

Financial Management implies arranging, sorting out, coordinating and controlling the

financial activities such as obtainment and use of funds of the enterprise. The funds must be

efficiently and effectively managed as to accomplish the objectives of the organization. It is the

specialized function directly associated with the top management. It means applying general

administration standards to money related assets of the venture. A portion of its primary

destinations is to guarantee customary and satisfactory supply of funds to the concern as well as

to guarantee sufficient returns to the shareholders which will rely on the earning capacity, market

price of the share, and expectations of the shareholders.

B. Personnel Management

Personnel management is an administrative specialization that centers around hiring and

developing employees to become progressively profitable to the company. It is sometimes

considered to be a sub-category of human resources that only focuses on administration. It is

associated with the effective control and use of manpower, resulting to a dynamic organization.

Managing personnel concentrates on certain administrative human resource categories. It

includes job analyses, strategic personnel planning, performance appraisals and benefit

coordination. It also involves recruitment, screening and new employee orientation and training.

Lastly, it involves wages, dispute resolution and other record keeping duties.

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 Financial Management VS Personnel Management

Although both are concerned with four general functions: planning, organizing, leading

and coordinating, financial and personnel management are two different managerial areas.

These managerial areas are differed by the type of resources being managed. Financial

Management focuses on the financial resources of the business. Its main goal is to ensure

optimum funds utilization. Once the funds are procured, they should be utilized in maximum

possible way at least cost. Personnel Management on the other hand, concentrates on the

human resources of the business. One of the biggest responsibilities of a personnel manager will

be to recruit the right employees. However, this is an ongoing, complex process that will require

the personnel manager to intimately understand every position and corresponding duties.

2. A. Human Resources

Human Resources are the people who make up the workforce of an organization. It can be a

single employee within the organization or in general, all of the people the organization employs.

In the same manner, Human Resources is a department of an organization which handles the

finding, screening, recruiting and training job applicants, as well as administering employee-

benefit programs. Human resources as manpower are extremely valuable assets, so it is highly

important for organizations to motivate employees and maintain an organizational culture of

high morale.

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 B. Financial Resources

Financial Resources is a term covering all financial funds of the organization. These are the

money available to a business for spending in the form of cash, liquid securities and credit lines.

From an economic perspective, financial resources are the part of the organization’s assets

(property). Financial Resources are obtained from investments, income from sales, and loans

from the bank.

Human Resources VS Financial Resources

Human Resources deals with workforce embed in business. It concentrates on numerous

issue such as training, compensation, appraisals, recruitment and performance management.

The success of an organization is determined by the skill, efficiency and attitude of the labor used.

Many organizations have been able to develop due to the will, capacity and skill of their human

resources. Meanwhile, financial resources are used to fund the business. Organizations need

finances for daily operations and to meet essential expenses and payments. Funds are needed

for business growth, market competition, and to keep business operational and maintain

customer base. However, they both are equally important to the overall success of business.

3. A. Job Description

A job description is a document intended to provide job applicants with an outline of the main

duties and responsibilities of the role for which they are applying. It is an essential part of the job

application process as, with the right information, it should help applicants to determine whether

the role is in line with their skill set and whether it is a job they actually want to do.

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 B. Job Design

A Job design means to decide the contents of a job. It fixes the duties and responsibilities of

the job, the methods of doing the job and the relationships between the job holder (manager)

and his superiors, subordinates and colleagues. It gives information about the qualifications

required for doing the job and the reward (financial and non-financial benefits) for doing the job.

Job Description VS Job Design

Both areas are very important functions of staffing. A Job Description clearly identifies the

purpose of the role as well as the key tasks to be performed and the main accountabilities of the

position. The job description is vital in ensuring that the applications received for the position

closely match the needs of the role itself. It helps HR departments and external recruiters to

streamline the selection process and receive a high concentration of candidates who are suitable

for interview or further selection. Whereas a Job Design is mostly done for managers' jobs. While

designing the job, the needs of the organization and the needs of the individual manager must

be balanced. If established properly, managers will be motivated to improve the productivity and

profitability of the organization.

4. A. Business Plan

The primary purpose of a business plan is to define what the business is or what it intends to

be over time. Clarifying the purpose and direction of your business allows you to understand

what needs to be done for forward movement. It lays out a vision of growth and the steps needed

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to get there. It is also an essential communications tool for attracting financing for your business

as well as managers and staff as your business grows.

B. Feasibility Study

A feasibility study examines the practicability of a proposal, business venture or idea. The

principal function of this is to determine if the project will continue or not. The feasibility report

will look at how a certain proposal can work in a long-term basis or endure financial risks that

may come. It is also helpful in recognizing potential cash flow.

Business Plan VS Feasibility Study

A business plan helps define and focus on the business ideas and business strategies. It does

not only concentrate on financial matters, but also on management issues, human resource

planning, technology and creating value for customers. It also acts as a management tool that

can be referred to regularly to ensure the business is on course with meeting goals, sales targets

or operational milestones. In contrast, Feasibility Study determine potential positive and

negative outcomes before investing considerable time and capital into a proposal. The goal of a

feasibility study is to place emphasis on potential problems that could occur if the project is

pursued. The study will determine if, after all significant factors are considered, the project

should be pursued; and if so, how the project should be pursued.