Aims And Objectives

Question 1

Define what a mission statement is

Answer 1

A mission statement is the main objective of a business

Question 2

Define what a business aim is

Answer 2

A business aim what you are trying to achieve long term

Question 3

Define what a business objective is

Answer 3

A business objective is what you are trying to achieve short term and it is more specific than objectives

Question 4

What are the two types of objectives and over what time period are they used

Answer 4

1. Strategic objective - 12 months

2. Tactical objective - 4 months

Question 5

What targets do objectives use

Answer 5

SMART targets

Question 6

What do SMART targets stand for

Answer 6

S - specific
M - measurable
A - achievable 
R - realistic 
T - time bound

Question 7

What is a stakeholder and give an example

Answer 7

A stakeholder is anyone who has an interest in a business. For example, a teacher is interested in a school in order to get paid and make a living

Question 8

Give an example of conflict between stakeholders

Answer 8

Buyers and sellers trying to agree on a price