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Summary Pearson Edexcel A-Level Business Unit 3 - Business Decisions and Strategy - 3.1 Business Objectives and Strategy $3.97
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Summary Pearson Edexcel A-Level Business Unit 3 - Business Decisions and Strategy - 3.1 Business Objectives and Strategy

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  • Course
  • Unit 3 - Business decisions and strategy (9BS0)
  • Institution
  • PEARSON (PEARSON)

This is a summary of section 3.1 of the Pearson Edexcel A-Level Business syllabus. The notes are organised according to the syllabus, split up under the headings: Corporate Objectives, Theories of Corporate Strategy, SWOT Analysis, and Impact of External Influences. Each section has a table of key ...

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Document information

  • November 27, 2018
  • 10
  • 2017/2018
  • Summary

Subjects

  • edexcel
  • a level
  • business
  • unit 3
  • corporate objectives
  • corporate strategy
  • swot analysis
  • external influences
  • ansoffs matrix
  • distinctive
  • pearson
  • impact of external influences
  • porters strategic matrix
  • th

Written for

  • A/AS Level
  • PEARSON (PEARSON)
  • Business
  • Unit 3 - Business decisions and strategy (9BS0)
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3.1 – Business Objecties and Strategies


3.1.1 – Corporate Objecties
Corporate objectiee The long-term goale of a bueineee ae a whole which form the
guiding principlee of a bueineee
Mieeione etatemente A brief writen etatement of the purpoee of a companŅ or
organieaton
Corporate aime The long-term goale of a bueineee ae a whole which form the
guiding principlee of a bueineee

StrategŅ ie the medium to long term plane of a bueineee to achieie ite corporate objectiees
Tactce are the ehort-term actone taken bŅ a bueineees

HierarchŅ of Objectiees
 Mieeione etatement – the oierall purpoee of the bueineee
 Help inform decieion making at all leiele
 For a large, diiereifed companŅ, a mieeion etatement ie ueeful for defning
what the companŅ ie trŅing to do in a waŅ that all etakeholdere can
underetand and identfŅ with
 Corporate aim – general etatemente of what a bueineee hopee to achieie in the long
term
 Corporate objectiee – the medium to long term quantfable targete of a bueineee
o SMART – Specifc, Meaeurable, Achieiable, Realietc, TimelŅ
 Shape future etrategŅ
 Meaeure and reiiew performance
 Inform decieione and improie performance
 To improie inieetor encouragement and inform ehareholdere
 Sometmee there can be conficte between objectiee
 Department objectiee – targete eet for each departmentffuncton of a bueineee
 Should lead to eaeier decieion  Not alwaŅe eupported bŅ the actone
making; when faced with a eeriee of of a bueineee
optone managere can compare  MaŅ be unreliable and therefore
them in relaton to the oierall ignored or regarded cŅnicallŅ bŅ
objectiee of the bueineee etaa
 Should help motiate etaa and help  MaŅ be out of date
for a etrong corporate culture  MaŅ not refect realitŅ
 It can be a powerful waŅ of unitng a  MaŅ not be eupported
workforce and helping to deielop a wholeheartedlŅ bŅ eenior
etrong corporate culture management


3.1.2 – Theories of Corporate Strategy
Corporate etrategŅ Medium to long term plane of a bueineee, detaile how objectiee
will be met through decieione and actiitee relatng to all
aepecte of the bueineee
Aneoa’e Matrix A model that aeeeeeee the degree of riek iereue potental
reward for etrategic optone baeed on whether the market andf
or producte are new or exietng

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