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Objectives

Mission Statement:purposes of the business, (general statement)

Aims/Goals: more specific (survival, break even, growth, profit)

Strategic Objectives: long term, effect whole business

Tactical Objectives: day-to-day, help achieve strategic objectives

Specific                                          
Measurable
Agreed
Realistic
Time-bound

Strengths
Weaknesses
Oppurtunities
Threats

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Objectives 2

Oppurtunity Cost: The value of an alternative that has to be sacrificed in order to choose an alternative

Internal Constraints:

  • lack of finance
  • poor  communication
  • conflict between departments
  • industrial disputes

External Constraints:

  • changes in the law
  • state of the economy
  • behaivour of competitors
  • opinions and behaviours of external stakeholders
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