Aims And Objectives

Question 1

Vision Statements

Answer 1

Is a description of what a business sets out to achieve in the medium to long term.

It should provide a clear guide to senior management of the future direction of the business and help direct strategic decision making.

Question 2

Mission statements

Answer 2

A mission statement is a broad statement of its aims and values.

It will guide everyday operations and decision making of the business. By defining a mission an organisation is making a clear statement of its purpose.

Question 3

Business aims and objectives

Answer 3

Survival

Profit maximisation

Growth and gaining market share

Increase shareholder value

Corporate social responsibility / environmental impact