Schedule H

Question 1

influences on a business mission statement (4 points)

Answer 1

• purpose (why the company exists)
• values (what the company believes in)
• standards and behaviours (behaviour expected of employees)
• strategy (competitive position of the company)

Question 2

corporate objectives of PLC’s (3 points)

Answer 2

• maximise shareholder returns
• growth in size of firm
• Diversification to spread risk

Question 3

Internal influences on corporate objectives of PLC’s (3 points)

Answer 3

• The ambitious nature of those leading the company
• financial budgets
• skill of workers

Question 4

External influences on corporate objectives of PLC’s (3 points)

Answer 4

• FADS
• changing legislation
• market share

Question 5

strategy

Answer 5

medium to long term plan, will be carried out to achieve corporate objectives
e.g. ansoff matrix

Question 6

tactics

Answer 6

short term plan, in response to opportunities/threats

Question 7

SWOT

Answer 7

Strengths
Weaknesses
Assets
Threats

Question 8

benefits of SWAT (3 points)

Answer 8

• logical structure
• focuses on strategic issues
• encourages analysis of external environment

Question 9

drawbacks of SWAT (2 points)

Answer 9

• too often lacks focus
• can quickly go out of date