Missions Aims and Objectives

HideShow resource information
View mindmap
  • Understanding Mission, Aims and Objectives
    • Hierarchy of objectives
      • Mission
        • A Qualitative Statement of the business's aims
      • Corpoarte/Strategic
      • Functional
      • Team
      • Individual
    • Aims
      • A long term plan from which a business's objectives are derived
    • Objective
      • A target which must be acheived in order to realise the stated Aim
      • A time assigned target dervied from the goals and set in advance of strategy
    • Tactical Objectives
      • Focus on short term
      • Set by line management
      • Relitively low risk
      • Limited resources invested
      • Relatively easy to change at minor financial cost
      • Realistic and Achievable
    • Strategic
      • Focuses on long term
      • Set by the board
      • Involove high risk and uncertainty
      • likely to involve significant investment / business resources
      • Difficult to change in the short term
      • Stretching and challenging
    • Factors influencing strategic aims and objectives
      • Age of the business
      • Size and legal status
      • Ownership
      • View of owners and managers
      • Market condition
      • Legislation
      • State of the economy
      • Competition
      • Risk and attitude to risk
      • Corporate Culture
      • Political Factors
      • Social Attitudes


No comments have yet been made

Similar Business Studies resources:

See all Business Studies resources »See all Business Plans resources »