Introduction to Business: Mission, Objectives, and Strategy

The video tutorial explores why businesses exist, using Microsoft as an example. It delves into the concepts of mission, objectives, and strategy, emphasizing their importance in business operations. The tutorial also discusses common business objectives such as profit optimization and growth, and introduces the SMART criteria for setting effective objectives. Through examples, it illustrates how to create specific, measurable, achievable, relevant, and time-bound objectives to ensure clarity and effectiveness in business planning.

What fundamental question does the text suggest we consider about businesses?

How did Bill Gates' initial idea contribute to the growth of Microsoft?

What are the three key terms that one must be familiar with when thinking about a business?

What is the mission of Microsoft as stated in the text?

How can objectives help in achieving a business's overall mission?

What are some common business objectives mentioned in the text?

Explain the concept of SMART objectives in business.