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First... Some definitions that I
need to know and understand
CORPORATE AIMS: MISSION STATEMENT:
The general direction a company A short, relevant and specific message that portrays
wants to go in the long term to everyone the value of the brand and why it exists
This leads to the creation of
CORPORATE OBJECTIVES:
Business targets reflecting the corporate aims by showing what needs to be
done to achieve those aims.
This leads to the creation of
CORPORATE STRATEGY:
A detailed plan that will lead to the desired outcomes. It will include capital
investment, finance and which resources are required in each department…read more

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An example....
CORPORATE AIMS:
To become the worlds leading global MISSION STATEMENT
premium airline
This leads to the creation of
CORPORATE OBJECTIVES:
To increase profits by 10% in the next 12 months
This leads to the creation of
CORPORATE STRATEGY:
A detailed plan on how profits will be raised by 10% in the next 12 months. It will include
capital investment, finance and which resources are required in each department…read more

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CORPORATE AIMS:
Corporate Aims The general direction a company wants to go
in the long term
Corporate aims can be influenced by:
Internal factors e.g. management think market potential
has changed
External factors e.g. recession => down scale aims
relating to market size
Clear aims can help a business achieve its goals
because they give direction
This allows the employees to be aware of what
needs to be achieved and to be more determined.…read more

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CORPORATE OBJECTIVES:
Business targets reflecting the
Corporate Objectives corporate aims by showing what
needs to be done to achieve those
aims.
Corporate objectives derive from the businesses aims and
objectives and they're there to facilitate progress and survival
They can be short term, medium term or long term
They benefit businesses because
Turning aims into specific targets further clarifies what needs to be
achieved
They provide a base for developing corporate strategy
They provide a yardstick businesses can measure progress against once
the corporate strategy is in place.
Corporate Objectives should be SMART to make them more efficient and
possible....
SPECIFIC ­ Be precise about what you want to achieve
MEASURABLE ­ Quantify your objectives
ACHIEVABLE ­ Are you attempting too much?
RELEVANT ­ Do you have the resources?
TIME BOUND ­ When will you achieve the objective?…read more

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Common Corporate Objectives
include
Growth Diversification
Profit (increase sales
(move into new
(increase overall value or revenue/market share.
geographical/product
profit margin) Helps increase market
market to spread risk)
power)
Improving market
Increasing standing
Survival
(may be priority when shareholder value (developing corporate
there's a recession or (relevant to PLC's. Action image/reputation to
intense competition) taken to maximise value support products and
quoted on stock market.) increase consumer
confidence)
Not-for-profit objectives
(targets involving supporting the wider community rather than focusing on firm
wide issues e.g. profit)…read more

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