3.1.1 Flashcards
Coroporate Aims
Long term aims of a business
Mission Statement
reasons why a business exists and what they are trying to achieve
Corporate Objectives
targets set to achieve the aims of the business
are aims short term or long term
short term
what is an objective
stages/targets to reach the final aims
what does smart targets stand for
specific
measurable
achievable
reliable
time bound
a type of short term target
break-even
a long term target
profit maximise/ make profit
what do short term objectives depend on
GETMF
what does getmf stand for
Government policy
Economic position
Trends
Market position
Financial position
two types of objectives
social welfare
employee welfare
what is a social welfare objective
Helping the community eh charities
what is an employee welfare objective
employee satisfaction
employee happiness + wishes
what are the issues with social/employee welfare
not profitable
expensive to maintain
example of employee welfare organisations
google vs mcdonalds
