Functional Objectives and Strategies Key Terms

Objectives: the medium to long-term goals or targets that can give a sense of direction to a manager, department or whole organisation.

Corporate objectives: the goals or targets of the whole organisation, usually based upon its mission or aims.

Functional objectives: the goals or targets of each of the functional areas of a business, usually based on its corporate objectives.

Mission statement: a qualitative statement of an organisation's aims and describes the general purpose of the organisation.

Strategy: the medium to long-term plan through which an organisation aims to attain its objectives.