Mission statement

• What is the purpose of a mission statement?

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

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

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

  They support the mission statement
• What are corporate objectives sometimes called?

  Business objectives
• What do corporate objectives define?

  Overall objectives like profit maximization
• What does SMART stand for in corporate objectives?

  Specific, Measurable, Agreed, Realistic, Time-bound
• How do corporate objectives relate to functional objectives?

  Functional objectives are driven by corporate objectives
• What level do functional objectives operate at?

  Department level
• Why are functional objectives more detailed?

  They are specific to each department
• What is the purpose 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 end goal of the objective hierarchy?

  To fulfill the mission statement
• What are the layers of objectives in a business structure?

  • Mission Statement: Broad intent of the business
  • Corporate Objectives: Overall goals like profit maximization
  • Functional Objectives: Specific goals for each department
• What are the characteristics of SMART objectives?

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