Topic 1 Flashcards

1
Q

What are corporate objectives

A

Used to achieve aims of a business

Quantifiable statement of a business’s goals which should include measurable targets

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2
Q

Give 3 examples of a corporate objective

A

Maximise returns/profits
Survival
Growth

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3
Q

Explain functional objectives

A

Quantifiable statement of a departments goals which should enable it to contribute to achievement of corporate objectives

Functional objective must coordinate so as not to conflict

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4
Q

What are functional strategies

A

Th plan by which departments intend to achieve its functional objectives on a day to day basis

Should be measurable to see success
Should consult with those involved
Should be SMART

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