Edexcel Business A Level Revision

Mission Statement - is a short term statement of the company's vision and values which helps to set aims and objectives and also detail the overall reason for its existence. This enables employees, managers and customers and possible some suppliers to understand the conduct of the business. It is a statement of purpose, such as 'grow our market share in the UK'. Nike's mission statement is; "To bring inspiration and innovation to every world athlete". Corporate objectives - Measurable, clearly defined targets for how to achieve business aims. Effective objectives should be SMART (specific, measurable, achievable, realistic and time specific) A good mission statement should differentiate the business from its competitors, be relevant to all major stakeholders, define the market in which the business wants to succeed, and inspire and motivate stakeholders, especially employees. It should also be brief, realistic, based on a consultation with stakeh...

Business Objectives - is a goal set by a business, usually in the medium to long term. They can be set at any level of the business and can cover financial and non-financial issues important to the business's success Corporate objectives - Measurable, clearly defined targets for how to achieve business aims. Effective objectives should be SMART (specific, measurable, achievable, realistic and time specific) Mission statement - is a short term statement of the company's vision and values which helps to set aims and objectives. This enables employees, managers and customers and possible some suppliers to understand the conduct of the business. It is a statement of purpose, such as 'grow our market share in the UK'. Nike's mission statement is; "To bring inspiration and innovation to every world athlete". Aim - is a generalised statement of what the business plans to achieve in the longer term. A goal or purpose of the business for the future, to inspir...