3.1.1 Mission, Aims and Objectives

What is the mission of a business?

• The overall purpose or main corporate aims

• The specific goals of each department

• The individual objectives of employees

• The financial targets for the next quarter

What do mission statements tell you about a business?

• The purpose of the business and its values, standards, and strategy

• The specific tasks of each employee

• The financial performance of the business

• The marketing strategies of the business

What can mission statements give staff a sense of?

• Individual goals

• Shared purpose

• Financial targets

• Marketing strategies

What is the risk if a company's mission statement is not accurate?

• Increased sales

• Improved employee morale

• Damaged reputation

• Higher profits

What are corporate objectives?

• The goals of the business as a whole

• The specific tasks of each department

• The individual objectives of employees

• The financial targets for the next quarter

What are functional objectives also known as?

• Corporate objectives

• Departmental objectives

• Personal objectives

• Financial objectives

What can be motivating for employees?

• Working towards an objective

• Receiving financial bonuses

• Attending training sessions

• Taking more breaks

What can managers compare with their objectives to measure success?

• Employee satisfaction

• Performance

• Marketing strategies

• Financial reports

What might individual staff members have in addition to team objectives?

• Corporate objectives

• Personal objectives

• Financial objectives

• Marketing objectives

What does the 'S' in the SMART objectives acronym stand for?

• Specific

• Simple

• Strategic

• Sustainable