Business decision & strategy

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Business aims
These are long-term targets set for the business. E.g. To increase market share by 15% in the next 10 years.
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Mission statement
A mission statement states the business purpose, also it reflects the businesses goals and values. E.g. The purpose of British Airways is to provide a comfortable, fast and safe flight to destinations around the world.
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S.M.A.R.T objective
This means specific, measurable, agreed, realistic and time scale. E.g. Apple to increase sales by 16% within the next 24 months.
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Functional objective
An objective aimed at a particular department in a business, these are usually based on the corporate objective. E.g. Tesco could give the marketing department a functional objective to let customers know it has an ethical corporate objective.
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Corporate objective
A corporate objective is a
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Other cards in this set

Card 2

Front

A mission statement states the business purpose, also it reflects the businesses goals and values. E.g. The purpose of British Airways is to provide a comfortable, fast and safe flight to destinations around the world.

Back

Mission statement

Card 3

Front

This means specific, measurable, agreed, realistic and time scale. E.g. Apple to increase sales by 16% within the next 24 months.

Back

Preview of the back of card 3

Card 4

Front

An objective aimed at a particular department in a business, these are usually based on the corporate objective. E.g. Tesco could give the marketing department a functional objective to let customers know it has an ethical corporate objective.

Back

Preview of the back of card 4

Card 5

Front

A corporate objective is a

Back

Preview of the back of card 5

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