Answer to Question 1
Corporate objectives are typically set in relation to four performance dimensions: (1) sales, (2) market share, (3) profit, and (4) cash.
Answer to Question 2
Situation analysis can be conducted to help the manager make three decisions. One is how to select corporate strategy; the second major decision is what corporate objectives to set; and the third decision is related to budgeting or the allocation of resources to achieve those goals.