4. Glossary Flashcards
Business objective
Definition
A stated measurable target that business plans to achieve
Corporate social responsibility
Definition
When business consider the interest of society by taking social responsibility for the impact of their decisions and activities on customerss, employees, communities and the environment
Triple bottom line
Definition
The three objective of social enterprises: social, economic and environmental.
SMART objectives
Definition
Aims that are specific, measurable, achievable, realistic and time-limited
Business aim
Definition
A long term goal that a business hopes to achieve
Mission statement
Definition
a brief statement of the business’s core aims, phrased in a way to motivate and stimulate interest.
Business strategy
Definition
A long-term plan of action for a business, designed to achieve a particular objective.
Tactic
Definition
A short-term action as part of an overall strategy.
Budget
Definition
A detailed financial plan for the future
Ethical code
Definition
A document detailing a company’s rules and guidelines on staff behaviour that must be followed by all employee.
