P2 Hw 22- Corporate Objectives Flashcards
1
Q
Corporate objective
A
Overall objective of a business
2
Q
Common business objectives
A
- survival
- profit maximisation
- sales maximisation
- market share
- cost efficiency
- employee welfare
- customer satisfaction
- social objectives
3
Q
Mission
A
A qualitative statement of the business aims
4
Q
Factors influencing business objectives
A
Age
Size and legal status
Competition
5
Q
Mission statement
A
Overriding goal and reason for their existence
6
Q
Vision statement
A
Outlines company’s long term goals and impact on the world
7
Q
Strategy
A
Plan of action designed to achieve long term or overall aim
8
Q
Tactics
A
Ways the business will achieve its aim
