Developing Corporate Objectives: Aims, Mission, and Strategy

To guide the business's overall strategy and direction, helping to focus efforts and resources towards a common purpose

Aims, mission statement, corporate objectives, functional objectives

To express a business's overall aim and core values, providing direction and a common purpose for employees

<p>Corporate objectives are specific performance goals set by senior management for the business to achieve over time, while functional objectives are the day-to-day goals of functions or departments within the business</p> Signup and view all the answers

<p>Specific, Measurable, Agreed, Realistic, Time-bound</p> Signup and view all the answers

<p>To ensure they continue to reflect the current corporate vision and are realistic and achievable in the current trading environment</p> Signup and view all the answers

<p>To involve a variety of stakeholders, including workers and suppliers, in determining the direction of the business, and to acknowledge newly-identified opportunities and threats</p> Signup and view all the answers

<p>To set specific performance goals for the business to achieve over time, derived from the firm's overall aim and mission statement</p> Signup and view all the answers

<p>To ensure that all parts of the business are working towards the shared goal</p> Signup and view all the answers

<p>To describe the business's reason for being, often expressed as an overall vision</p> Signup and view all the answers