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3 marksBusiness Objectives

CAPE Management of Business Unit 1 · 2016 · Paper 2 · Question 2(a)(i)

Tyre Repairs & Services Ltd has operated without mission and vision statements since incorporation, but the board of directors now plans to develop them due to competition.

Define the term 'mission statement'.

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Other parts of this question

  1. 2(a)(ii)Outline THREE reasons why a mission statement is important to Tyre Repairs & Services Ltd.[6 marks]
  2. 2(b)Differentiate between a 'vision statement' and a 'mission statement'.[4 marks]
  3. 2(c)(i)Discuss ONE way in which Technology will affect decision-making at Tyre Repairs & Services Ltd.[4 marks]
  4. 2(c)(ii)Discuss ONE way in which Globalization will affect decision-making at Tyre Repairs & Services Ltd.[4 marks]
  5. 2(c)(iii)Discuss ONE way in which Legal regulations will affect decision-making at Tyre Repairs & Services Ltd.[4 marks]

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