3.1.1 Corporate Objectives Flashcards
1
Q
What is a mission statement?
A
A way of the business expressing their main intent.
2
Q
What makes a good mission statement?
A
memorable and inspiring, always looking to the future.
3
Q
Benefits of a strong mission statement
A
Focus, creates identity and profitability.
4
Q
limitations of a mission statement
A
They can be unrealistic and overoptimistic.
can be too vague.
Waste of management and resources.
5
Q
What does a corporate objective do?
A
Should flow from the mission statement and corporate vision.
Set by senior management for the whole company.
To satisfy shareholders.
6
Q
What are SMART objectives?
A
Specific
Measurable
Achievable
Realistic and Relevant
Time related.
