7.1.1 Business Mission & Corporate Objectives

Question 1

Business Mission - A business mission statement aims to set out the organisation’s purpose. There are many influences on a business’ mission statement:

Answer 1

The size of a business, The range of activities undertaken by a business, The nature of owners and important stakeholders in a business, Changes over time, The actual performance of an organisation, External factors.

Question 2

Corporate Objective - Corporate objectives are overall business objectives designed to steer a business towards achieving its overall mission. There are many influences on a business’ corporate objectives:

Answer 2

Short-Termism, Business Ownership, Internal Business Environment, External Business Environment.