aims and objectives Flashcards
1
Q
how are objectives used to achieve a business’ aim?
A
objectives are more specific and measurable that help direct the aim.
2
Q
what is SMART?
A
s pecific m easurable a chievable r ealistic t ime limited
3
Q
what is a mission statement?
A
a formal summary of the aims and values of a company, organisation, or individual.
4
Q
what is a vision statement?
A
describes what a company desires to achieve in the long-run.
5
Q
what is a mission statement?
A
the overall reason for a business’ existence.
6
Q
pros of a vision statement
A
+help set objectives
+commits resources
+defines a clear identity and ethos
7
Q
cons of a vision statement
A
- lack specificity
- can cause confusion in a business
8
Q
what are the impacts of vision statements on a business?
A
clear guide to senior management
positive growth
defines core value
9
Q
pros of a mission statement
A
+determines strategic position
