chapter 4 business objectives Flashcards
business objective
a stated measurable target that a business plan to achieve
corporate social responsibility
when businesses consider the interests of society by taking responsibility for the impact of their decisions and activities on customers, employees, communities and environment.
pressure group
organisations created by people with a common interest or aim, who put pressure on businesses and governments to change policies so that an objective is reached
triple bottom line
the three objectives of social enterprises: economic, social and environment
SMART objectives
aims that are specific, measurable, achievable realistic and time-limited
business aim
a long-term goal that a business hopes to achieve
mission statement
a brief statement of the business’s core aims, phrased in a way to motivate employees and to stimulate interest from outside groups
annual (company) report
a document that gives details of a company’s activities over the year, including its financial accounts
business strategy
a long term plan of action for a business, designed to achieve a particular objective
tactic
a short-term action as of an overall strategy
target
a short-term goal that must be reached before an overall objective can be achieved
budget
a detailed financial plan for the future
ethical code (code of conduct)
a document detailing a company’s rules and guidelines on staff behaviour that must be followed by all employees
