Corporate objectives

Question 1

What are objectives?

Answer 1

Objectives are statements of specific outcomes that are to be achieved. They are targets to which a business use to achieve its aims.

Question 2

What are corporate objectives?

Answer 2

A corporate objective are those that relate to the business as a whole.

Question 3

What is the purpose of corporate objectives?

Answer 3

1) provide strategic focus.
2) measure the performance of the business as a whole.
3) inform decision making.
4) set the scene for more detailed functional objectives.

Question 4

What are functional objectives?

Answer 4

Functional objectives are set for each key function of the business and are designed to ensure corporate objectives are achieved.

Question 5

What are some external influences on a business?

Answer 5

1) competitors.
2) social and technological change.
3) short- termism
4) economic environment
5) political/legal environment