Corporate Objectives Y13 Business

What is the difference between a business aim and business objective?

• D. A business aim is the financial target of the business, while business objectives are the marketing strategies.

• A. A business aim is the overall target of the business, while business objectives are the steps to achieve the aim.

• B. A business aim is the steps to achieve the overall target of the business, while business objectives are the overall target.

• C. A business aim is the short-term goal of the business, while business objectives are the long-term goals.

What is the purpose of a mission statement?

• A. To outline the financial goals of the business

• B. To define the essence or purpose of the business in a few sentences

• C. To set specific objectives for each department

• D. To create a competitive marketplace identity

What is the main criticism of mission statements?

• D. They focus too much on profitability

• C. They are always realistic and achievable

• B. They are a waste of management time and resources

• A. They are too specific and limit the business's growth

What should a mission statement be according to the text?

• B. Memorable and inspiring

• D. Focused on short-term goals

• C. Detailed and lengthy

• A. Ambiguous and open to interpretation

What is the purpose of corporate objectives?

• A. To satisfy customers' needs

• B. To motivate employees to work harder

• C. To flow from the mission statement and corporate vision

• D. To increase the number of shareholders

What is the hierarchy of objectives in a business?

• A. Corporate objectives, Department objectives, Development of Corporate Objectives

• B. Department objectives, Corporate objectives, Development of Corporate Objectives

• C. Development of Corporate Objectives, Corporate objectives, Department objectives

• D. Development of Corporate Objectives, Department objectives, Corporate objectives

What is the purpose of investigating mission statements?

• D. To focus and involve all employees in the business

• B. To define the purpose of the business in a few sentences

• C. To set specific objectives for each department

• A. To criticize the company's vision and values

What is the main element of a mission statement according to the text?

• D. Values

• A. Purpose

• B. Strategy

• C. Standards & Behaviour

What is the purpose of a corporate vision?

• D. To set specific objectives for each department

• A. To focus on short-term goals

• C. To look towards the future and where the business would like to be

• B. To define the purpose of the business in a few sentences

What is the main difference between a generalised aim and mission and a more specific SMART objective?

• A. A generalised aim is specific and measurable, while a SMART objective is broad and vague

• B. A generalised aim is inspiring and memorable, while a SMART objective is detailed and lengthy

• C. A generalised aim is the overall target or goal of the business, while a SMART objective is a more specific step to achieve the aim

• D. A generalised aim is focused on profitability, while a SMART objective is focused on customer satisfaction