Business Studies AS Level: Chap. - 4: Revision Questions | Questions with 100% Correct Answers | Verified | Updated 2023

What is the purpose of a mission statement? - A mission statement should be a brief description of a company's principals. The mission statement explains the reason why the company exsists & it's purpose both for those in the organisation & the public. What are often considered to be the practical limitations of mission statements? - The mission statement which is too informal and general, so that they end up specific about the business & it's future plans. Based on public regulation practices to have the organisation be satisfied by stakeholders. State four factors that would help to ensure that cooporate objectives were effective in assisting a business to achieve it's aims. - Four factors that would help ensure that cooporate objectives were effective in assisting a business to achieve it's aims are: - Size & legal form of the business - Corporate culture - The no. of years the business has been operating - Public/private-sector business.