Corporate Objectives and Strategy

Question 1

Corporate objectives

Answer 1

Company goals that need to be achieved in order to keep the business on track to achieve its aims

Question 2

Mission statement

Answer 2

A statement of aims or common purpose adopted by a business designed to direct or stimulate the organization

Question 3

Corporate strategy

Answer 3

The ways in which a business has chosen to run it self to meet it’s long term aims and corporate objectives

Question 4

Ethics

Answer 4

Consideration of the moral rights and wrongs of a decision and a businesses guidelines in relationship to CSR

Question 5

Corporate culture

Answer 5

That shared values, beliefs, and norms of a business that affects every aspect of work life

Question 6

Strong culture

Answer 6

A culture where the values, beliefs and norms of business are deeply embedded within the business and its employees

Question 7

Strategic Decisions

Answer 7

Decisions concerning policy that can have a long term impact on a business

Question 8

Subjective decision making

Answer 8

An approach to decision-making where the personal opinions of the key decision-maker strongly influence the course of action chosen

Question 9

Portfolio analysis

Answer 9

A method of categorizing all the products of a firm to decide whether each fits within the strategic plans

Question 10

Monopoly

Answer 10

The market is dominated by a single business

Question 11

Oligopoly

Answer 11

The market is dominated by a few large businesses

Question 12

Corporate social responsibility

Answer 12

When companies integrate social and environmental concerns into their business operations and in their interaction with their stakeholders on a voluntarily basis

Question 13

PESTLE analysis

Answer 13

Analysis of the external political, economic, social, technological, legal and environmental factors