Mission Statemnents Aims And Objectuved Flashcards
1
Q
What is a mission statement
A
Businesses overall purpose to direct and stimulate on organisation (who you are as a business)
2
Q
What is an aim
A
Long term plans of the business where objectives are derived
3
Q
What is an objective
A
Medium to longterm goals done to coordinate the business
4
Q
What are the SMART objectives
A
S pecific- define what’s being measured (profit) numerically
M easurable- quantifiable target
A greed - must be discussed owner-> employee
R ealistic- must be motivating
T ime specific- must know how long till objectives have to be met
5
Q
Common business objectives
A
- diversification
- profit
- profit maximisation
- growth
- survival
- cash flow
- social and ethical
