Lecture 4 - Organisational Aspects Of Business

Question 1

Mission, Vision, Values, and Beliefs

Answer 1

Foundational elements of an organisation’s strategy, culture, and identity. They influence decision-making, guide behavior, and establish the organisation’s purpose and future goals.

Question 2

What is a mission statement?

Answer 2

“Why do we exist?”
A concise summary of an organisation’s purpose, outlining why it exists, whom it serves, and what it offers. It helps guide internal decision-making and sets
expectations for stakeholders

Question 3

What is a vision statement?

Answer 3

“Where do we want to go?”
Expresses the long-term aspirations of the organisation, describing the desired future state and what the company aims to achieve.

Question 4

Shares values and beliefs question

Answer 4

What principles guide our actions?

Question 5

Business school example vision and mission

Answer 5

Our vision is to develop innovative and responsible leaders for a sustainable future.
Mission is to deliver outstanding educational experience through innovative teaching, transforming careers and enhancing employability.