Mission, aims and SMART objectives, the hierarchy of objectives, corporate social responsibility, and stakeholder interests and conflicts.
Mission, aims and objectives
Mission statement — a qualitative statement of the organisation's overall purpose and values; it inspires and gives direction.
Corporate aims — broad long-term goals (e.g. become market leader).
Objectives — specific targets that should be SMART: Specific, Measurable, Achievable, Realistic, Time-bound.
This forms a hierarchy: mission → corporate aims → corporate objectives → divisional/functional objectives. Clear objectives improve decision-making, motivation, coordination and control (targets to measure against).
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