business 3.1.1

Question 1

What is a mission statement?

Answer 1

a brief statement made by a business describing objectives and encapsulate what the business is about.

Question 2

what should a mission statement do?

Answer 2

set out the business purpose
should be inspiring and memorable
talk about future plans.

Question 3

define corporate objectives?

Answer 3

it is the general objectives of a business and focus on desired performance and results and are usually aimed with pleasing shareholders.

Question 4

what are departmental functional objectives

Answer 4

These are when a business will separate different tasks and these different departments will have different objectives but these will align with corporate objectives

Question 5

What are the benefits of having a mission statement.

Answer 5

having a mission statement can create high levels of focus in a company as well as reinforce the direction an organization is going.
as well as identity and profitability of a company

Question 6

what are the limitation of a mission statement

Answer 6

limitations is that they can e unrealistic and to optimistic.
can be too ambiguous to follow
can lead to inconsistencies if not written properly.