CORPORATE OBJ & STARTEGIC DESCISIONS

Question 1

CORP OBJ

Answer 1

Medium to LT goals set to coordinate the bs

Question 2

Startegic descison

Answer 2

judgements made by senior managers that are LT

Question 3

Strategic descisons involve

Answer 3

msjor commitment of resources

Question 4

as startegic descison involve major commitment of resources they are what to reverse

Answer 4

difficult ot reverse

Question 5

once mission statment estabkished firm can set its

Answer 5

corp obj

Question 6

why are corp obj sometimes referred to as strategic obj

Answer 6

turn mission statement into something more quanitfiable

Question 7

objectives set out clearly

Answer 7

what has to be achieved

Question 8

objectives are frequently

Answer 8

qunatified

Question 9

objectives have a stated

Answer 9

time scale

Question 10

give example of corp obj

Answer 10

increase MKT SHARE by 15% in 2 years

Question 11

why is it not always true that corp obj always quanitified

Answer 11

Some like social repsonsibilty not easy to measure

Question 12

corp obj relate to x as oppposed to x

Answer 12

whole bs

specific functions e.g finance

Question 13

corp obj are more general and set out by

Answer 13

senior managers within the org

Question 14

junior managers more responsible for SETTING

Answer 14

obj lower down The org structure

and functional obj

Question 15

what do corp obj do for maangers

Answer 15

provide guidace

Question 16

describe range of corp obj that bs pursue

Answer 16

wide

Question 17

what were the 8 areas9Argued by Drucker of business activity that exist that bs can set corp obj

Answer 17

Market Position

Innovaiton

Financial Resources

Phsyical Resources

Human Resources

Productivity

Social Responsibility

Profits

Question 18

market position corp obj can be about
2 marks

Answer 18

growth rate for sales in a mkt

share of sales in exisitng.new mkt

Question 19

innovation refers to

2 THINGS

Answer 19

invention and development of new goods and services

new processes and methods of producing and supplying products

Question 20

financial resource obj could relate to AMOUNT OF

Answer 20

capital available to a bs and how this may be used

Question 21

phsycial resources refers to

5 marks

Answer 21

land
buildings
equipment
tech resources

available to bs

Question 22

human resources corp obj may relate to

2 MARKS

Answer 22

motivation

engagment

among employees

Question 23

Productivity corp obj realte to

Answer 23

efficient use of resources to gain max output from minimal inputs

Question 24

social repsonsibliyt is an area which

Answer 24

setting obj has become more common

Question 25

whu os social rsponsibility an ara which settin obj become more common

Answer 25

budiness responded more fully and openly to stkh needs

Question 26

Profit obj could relat eto waht 2 areas

Answer 26

overall level of profit profit measured against other factos such as revenue

Question 27

oxfam set itself tange of corp obj to be achieved by 2019 . One aim is ot promote development of sustainable food supplies give one example (woen)

Answer 27

more rurual women living in poverty are econmically empowered an able to infleunce descisiosn that affect them

Question 28

a descison invovles

Answer 28

specific commitment ot an action