Business Objectives Flashcards
1
Q
What are business objectives?
A
Objectives are quantifiable targets or goals to be achieved in a given time frame
2
Q
What do business objectives include?
A
- Survival
- profit maximisation
- sales maximisation
- Market share
3
Q
What is a mission statement?
A
A mission statement is a brief written statement of the purpose of a company or organisation.
4
Q
Why do businesses set objectives?
A
- Common sense of purpose
- Motivate employees
- Create reward systems
- Measure and review performance
- Inform decisions to improve performance
