BUSS3 definitions

?
  • Created by: Amelia
  • Created on: 29-09-14 12:58
Aims/Goals
General statements of what a business intends to achieve
1 of 12
Business unit strategy
How a business attempts to compete sucessfully in a particular market
2 of 12
Corporate objectives
Objectives that relate to the business as a whole
3 of 12
Corporate strategy
Concerned with the overall purpose and scope of the business activities
4 of 12
Cost leadership
A business strategy concerned with aiming to be the lower-cost producer in an industry
5 of 12
Functional objectives
Set for each major business function - designed to ensure that the corporate objectives are met
6 of 12
Mission statement
A statement of the overall purpose of the business
7 of 12
Shareholder value
Where shareholders earn a return from their investment which is greater than their required rate of return
8 of 12
SMART objectives
Objectives that are more likely to be achieved because they are Specific, Measurable, Achievable, Realistic and Timed
9 of 12
Social responsibility
The way in which a business meets its responsibilities to society as a key external stakeholder
10 of 12
SWOT analysis
Assessment of the internal strengths and weaknesses of a business and the external opportunities and threats that the business needs to consider
11 of 12
Targets
Similar to objectives. Targets are often set at an individual or team level
12 of 12

Other cards in this set

Card 2

Front

How a business attempts to compete sucessfully in a particular market

Back

Business unit strategy

Card 3

Front

Objectives that relate to the business as a whole

Back

Preview of the back of card 3

Card 4

Front

Concerned with the overall purpose and scope of the business activities

Back

Preview of the back of card 4

Card 5

Front

A business strategy concerned with aiming to be the lower-cost producer in an industry

Back

Preview of the back of card 5
View more cards

Comments

lewisfong1

Report

these are soooooo bad

Similar Business Studies resources:

See all Business Studies resources »See all Functional objectives and strategies resources »