3.1.1- corporate objectives

Question 1

What is a mission statement?

Answer 1

Formal summary of the aims and values of an organisation

Question 2

What are 2 pros of mission statements?

Answer 2

• communicate with stakeholders
• focus strategies and energy of business in a specific direction

Question 3

What are 4 cons of a mission statement?

Answer 3

• biased
• just a public relation tool
• customers may not even be aware of it
• not always supported by the actions of the business

Question 4

What are corporate objectives?

Answer 4

They should flow from the mission statement and they are aimed at satisfying the shareholders so may be related to profit or dividents