Corporate Objectives

Question 1

mission statement

Answer 1

An expression of a business’s overall aim as well as its core values and context

Question 2

Corporate objectives

Answer 2

Specific performance goals set by senior management for the business to achieve over time

Question 3

Functional objective

Answer 3

Day-to-day goals of functions or departments within the business, derived from corporate objective

Question 4

Pros of corporate objectives

Answer 4

-Motivate employees
-Measure progress
-Direction and focus for employees

Question 5

pros & cons of mission statement

Answer 5

Pros- track progress
-inform the public of the purpose of the business and what it wants to achieve
Cons-too vague
-viewed as a public relations stunt, rather than a useful business tool