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6 Cards in this Set

  • Front
  • Back

Mission Statement

A short, powerful message that states the general aim and direction of a business

Business (or corporate) objective

The goals set by a business as a whole, which derive from the mission statement

Objectives should be:

Clear and Measurable

Most common objectives

Maximise profit


Growth


Survival


Increase market share


Employee welfare


Customer satisfaction


Social objectives

Strategy

A strategy must be put in place in order to meet the objectives.


There are four main functions (Marketing, human resources, finance and operations) that set their own objectives to meet the overall objective

Strategy

A medium- to long-term plan for meeting objectives