chapter 25 U7

Question 1

what is a vision statement

Answer 1

sets out a businesses aspiration for the future

Question 2

what are coporate objectives

Answer 2

medium to long term goals established to coordinate the business

Question 3

strategic decision

Answer 3

are decisions made by senior managers that are long term involev a major commitment

Question 4

what is short termism

Answer 4

pressure to deliver quick results , causing a detrement to the longer term outcome.

Question 5

what is strategy

Answer 5

long term plan to achieve the businuess bisions through attaining its corporate objectives

Question 6

tactics

Answer 6

shorrt term decisions usualy involving relativly few resources that are made to implement a strategy.

Question 7

whats a functional decision

Answer 7

a judgement taken by managers responsible for one aspect of a businesses activities such as marketing or human resources.

Question 8

what does SWOT stand for

Answer 8

strengths
weaknesses
opportunities
threats

Question 9

what are dividends

Answer 9

part of a companies profits that are paid to shareholders in proportion to the shares that they own