F291

Mission Statement:purposes of the business, (general statement)

Aims/Goals: more specific (survival, break even, growth, profit)

Strategic Objectives: long term, effect whole business

Tactical Objectives: day-to-day, help achieve strategic objectives

Specific                                          
Measurable
Agreed
Realistic
Time-bound

Strengths
Weaknesses
Oppurtunities
Threats

Oppurtunity Cost: The value of an alternative that has to be sacrificed in order to choose an alternative

Internal Constraints:

• lack of finance
• poor  communication
• conflict between departments
• industrial disputes

External Constraints:

• changes in the law
• state of the economy
• behaivour of competitors
• opinions and behaviours of external stakeholders