Mission Statements and Objectives

• What is the purpose of a mission statement?

  It describes what the business intends to do
• How is Amazon's mission statement described?

  As Earth's most customer-centric company
• What are some alternative names for mission statements?

  Values, vision, purpose
• What do corporate objectives support?

  The top-level mission statement
• What are corporate objectives sometimes called?

  Business objectives
• What is a common goal of corporate objectives?

  Profit maximization
• What does SMART stand for in objective writing?

  Specific, Measurable, Agreed, Realistic, Time-bound
• What does it mean for an objective to be measurable?

  It uses numbers and sets quantifiable goals
• What timeframe do corporate objectives typically cover?

  Short to medium and long-term
• How are corporate objectives related to functional objectives?

  Functional objectives are driven by corporate objectives
• What do functional objectives define?

  The objectives of each department
• Why are functional objectives more detailed?

  They are specific to each department
• What is the benefit of having a hierarchy of objectives?

  It helps measure success and coordination
• How do functional objectives help employees?

  They provide focus and direction in roles
• What is the structure of objectives in a business?

  • Mission Statement: Top-level intent
  • Corporate Objectives: Support mission, define overall goals
  • Functional Objectives: Department-specific, detailed objectives
• What are the characteristics of SMART objectives?

  • Specific: Clearly defined
  • Measurable: Quantifiable goals
  • Agreed: Consensus among stakeholders
  • Realistic: Achievable targets
  • Time-bound: Defined timeframe