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
2
Q
Give 3 examples of a corporate objective
A
Maximise returns/profits
Survival
Growth
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
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