7.1.2 Mission, Corporate & Corporate Objectives

Question 1

A business’ mission, corporate objectives, and strategy all inform one another.

Answer 1

A businesses mission will inform the choice of corporate objectives so they can be designed in a way to meet the overall mission. Businesses use strategies to work towards their overall corporate objectives.

Question 2

Strategy and Tactics - Businesses can use strategic and tactical approaches to achieving their objectives.

Answer 2

Strategy - Long Term, Tactics - Short Term