3.1.1 Corporate Objectives

Question 1

What is a mission statement?

Answer 1

A mission statement sets out the purpose of a business: why it exists.

Question 2

What influences the mission statement?

Answer 2

The values of the founder, the industry the business is in, the views of society, the size of the business and type of ownership, and the culture of the business.

Question 3

What are corporate objectives?

Answer 3

The corporate objectives of a business quantify the mission of a business and set measurable targets for the whole organisation.

Question 4

What are the focus of corporate objectives?

Answer 4

Market standing, Innovation, Sustainability, Profitability, Growth, Social Responsibility, and Shareholder Value.

Question 5

What are the internal factors effecting corporate objectives?

Answer 5

Poor Performance, New leadership, Business ownership, Business culture, Business Growth.