Corporate Objectives & Strategy

  • Created by: Izzie
  • Created on: 13-04-18 13:22
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  • Corporate Objectives & Strategy
    • Corporate Objectives are goals an organisation plans to achieve in a given time period
      • They are used to form strategies
    • Mission Statements & Aims
      • Can give a sense of purpose
        • Can increase motivation
          • Can help stakeholders understand the business aim
      • Can be used to create good image
        • Can be vague
          • Impossible to sum up what a business is about in a few sentences
    • When considering a strategy it is important to investigate the cost alongside potential gains
    • It is useful to look at a portfolio but...
      • It is only a snapshot of the current position
        • Little to no predictive value
          • High mrkt growth doesn't ensure an attractive mrkt
            • High mrkt share isn't the best measure of a product's ability to generate cash
    • Portfolios allow you to analyse and compare products
    • Strategic decisions are made in order to meet objectives & tend to be long term
    • Tactical decisions are short term steps taken to help achieve the strategy

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