what is business Flashcards
what is a mission statement
an overall aim communicated to all stakeholders
what is a business objective
a small target design to work towards a bigger aim/mission statement
what is a corporate objective
a large objective decided up by an authority position focusing on the mission
what is a functional objective
more store-based, not acknowledged higher the chain of command
what is
SMART
specific
measurable
achievable
relevant
time based
when SMART objectives what to consider
percentages
a time (in a year)
type of objective (the store or whole company)
benefits of public limited company (plc)
-raise capital for finance growth
-easier to get a bank loan
-publicity
drawbacks of public limited company
-expensive
-can lose control
-directors may have different aims to shareholders
what are co operatives
they are owned and run by their members who can be customers or groups of businesses
what is a mission statement
businesses usually write on of them to communicate mission goals stakeholders
what are corporate objectives
these are overall goals that the entire organisation is trying to achieve
what are functional objectives
these are objectives that the marketing, operations, finance and HR departments might set themselves
