unit 7a Mission Corporste Objectives and Strategy Flashcards
What does a mission statement set out
the purpose of an org
as the mission statement sets out hte purpose of an organisation what does it therefore give the business
a reason for it existing
What 4 things does the mission statement focus on
what the business wants to be
the values of the business
the range of the firms activities
importance of different groups e.g stkh - employees , customers, investors
by setting out a mission statement what does everyone in the business know
also what should their actions be directed towards
what they should ultimatley be trying to do
all their actions should be directed towards the same thing
setting out a mission statement makes descision making easier t/f
t
how does a mission statemnt make descision making easier
when faced with options mananger can compare them in relation to the MS
As mission statement can make descision making easier , in all how does the mission statement act
as an anchor
T/F mission statements can motivate people
t
how do MS motivate people
they know why they’re employed and what the business is trying to achieve
What is a Vision Statement
sets out what a business wants to do / be in the future
t/f vision statements tend to be longer term
t
why do VS tend to be longer term
they look to the future
and
can be a source of inspiration to STKH - employees/supplires
