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CHAPTER 1 (OBJECTIVES (How do businesses set objectives? (The stockholder…
CHAPTER 1
OBJECTIVES
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Mission, vision and values: overview
The mission is the objective that subsumes all others beneath it and for some organizations the mission is
very easy to articulate
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Economic objectives
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Not-for-profit organizations also have economic objectives, but they are measured in different ways
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STRATEGY
Definition
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Chandler’s definition
Strategy is the determination of the basic long-term goals and objectives of an enterprise,
and the adoption of courses of action and the allocation of resources
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