Corporate Objectives

Question 1

What is a Mission statement

Answer 1

A mission statement is a qualitative statement of an organisations aims

Question 2

What are the disadvantages of mission statements

Answer 2

Critics say that mission statements are just a public relations tool

Question 3

What are Corporate objectives

Answer 3

Corporate objectives should flow from the mission statement and corporate vision

Question 4

What are the aims of corporate objectives

Answer 4

Aimed at satisfying the shareholders

Question 5

What are smart objectives

Answer 5

-Specific;
-Measurable;
-Achievable;
-Realistic;
-Time-related

Question 6

What are Department objectives

Answer 6

Each department of a business will set their own objectives which should flow from the corporate objectives

Question 7

What is the purpose of mission statements

Answer 7

A mission statement can define the essence or purpose of the business in just a few sentences

Question 8

What are the Limitations of mission statements

Answer 8

Can be unrealistic and over optimistic
Can be a waste of management time and resources