An organisation’s aims or long-term intentions, its ultimate purpose; a business mission sometimes the same as its corporate aims.
Mission
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A qualitative statement of an organisation’s aims that uses language intended to motivate employees and convince customers, suppliers and those outside the organisation of its security and commitment.
Mission Statement
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Goals of the whole organisation rather than different elements of it. They set out in order to co-ordinate the activities of, and give a sense of direction to, and guide the actions of the whole organisation. They are dictated by the mission or cor
Corporate Objectives
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The medium- to long- term plan through which an organisation aims to attain its objectives.
Strategy
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The means by which a strategy is carried out; a range of different tactics may be used as part of a single strategy.
Tactics
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Concerns the general direction and overall policy of an organisation. Strategic decisions have long-term effects on an organisation and so require detailed consideration and approval at senior management level. They can be high risk because the ou
Strategic Decision Making
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Tends to be short to medium term and is concerned with a specific functional area rather than overall policy. Functional decisions are usually taken to support the implementation of strategic decisions and are usually made by middle management.
Functional Decision Making
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A technique that allows an organisation to assess its overall position, or the position of one of its divisions, products or activities. It uses an internal audit to assess its strengths and weaknesses, and an external audit to assess its opportunit
SWOT Analysis
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Other cards in this set
Card 2
Front
A qualitative statement of an organisation’s aims that uses language intended to motivate employees and convince customers, suppliers and those outside the organisation of its security and commitment.
Back
Mission Statement
Card 3
Front
Goals of the whole organisation rather than different elements of it. They set out in order to co-ordinate the activities of, and give a sense of direction to, and guide the actions of the whole organisation. They are dictated by the mission or cor
Back
Card 4
Front
The medium- to long- term plan through which an organisation aims to attain its objectives.
Back
Card 5
Front
The means by which a strategy is carried out; a range of different tactics may be used as part of a single strategy.
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