Mission, Corporate Objectives Flashcards
1
Q
What factors can influence a business mission and objectives
A
ownership, short-termism, internal environment and the external environment
2
Q
What is a business mission
A
a business’ overall purpose
3
Q
what are business objectives
A
the goals set in order to achieve its mission
4
Q
what are corporate objectives
A
goals of the business as a whole
5
Q
what are functional objectives
A
objectives of each department
6
Q
what are strategies
A
medium to long term plan of actions to help achieve a business’ objectives
7
Q
what are strategic decisions
A
long term, high-risk decision that determines the overall direction of the business
8
Q
what is SWOT analysis
A
Strengths, Weaknesses, Opportunities, Threats
