3.1 - Business objectives and strategy

Question 1

Define a mission statement

Answer 1

A formal summary of a businesses aims, values and their main reason for existence

Question 2

Ansoffs Matrix

Question 3

Explain the critical appraisal of mission statements and corporate aims

Answer 3

Critically appraising mission statement and corporate objectives means to reassess their suitability by considering factors like are they aligned to social trends and do they align with the corporate vision.