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Summary Edexcel A level Business Theme 3 notes

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  • Course
  • Unit 3 - Business decisions and strategy (9BS0)
  • Institution
  • PEARSON (PEARSON)
  • Book
  • My Revision Notes: Edexcel A-level Business

Edexcel A level Business Theme 3 notes from 2015. From the 'My Revision Notes' revision guide. Complete notes that are condensed from the revision guide but still make sense and provide excellent explanations.

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  • Unknown
  • June 9, 2019
  • 30
  • 2018/2019
  • Summary

Subjects

  • business
  • a level
  • edexcel
  • theme 3

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  • A/AS Level
  • PEARSON (PEARSON)
  • Business
  • Unit 3 - Business decisions and strategy (9BS0)
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Theme 3
Corporate objectives
= targets set for the whole firm to reach in a given time period

Corporate aims

 Provides general sense of what’s to be achieved and gives a sense of
purpose and drive that the aim can bring to normal tasks.
 If everyone is aware then they’ll be more driven to achieve their part.
 Typical corporate aims are: growth, maximising profit, entering new
markets, surviving first 2 years, improving communities of operation.
 Helps employees understand what factors should be prioritised when
making decisions.
 Allows decisions to be made fast without need for long consultation
with senior managers.

Mission statements

 Reason why a business exists.
 If employees buy in, find motivation from trying to achieve that
purpose, no need for motivation techniques, gives staff a genuine
sense of purpose
 Can be communicated widely within and shared with other stakeholder
groups and customers

Influences on business mission

 Purpose: why the business exists, rooted into founder’s beliefs.
 Values: what the business believes in doing and guiding principles
behind how it should be done.
 Standards/behaviours: way that people act, towards others and
stakeholders, manager’s behaviour shows through staff

Corporate strategy
= medium to long term plan for achieving the corporate objectives

Porter’s (generic) strategy
matrix lowest cost highest
operator differentiation

 Provides advice to any Mass low cost differentiation
market
business on the potential
routes to choosing a Niche focused low cost focused
market differentiation
corporate strategy
 Crucial element in achieving long term competitive advantage

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