In this article we will discuss about the effects of organisation mission on objectives of a business. An organisation must first establish an overall mission or purpose before it determines its objectives. The organisational mission identifies the function that the organisation intends to perform within its social or economic system. As shown in the diagram below, specific objectives, strategies, programmes, [...]
The term 'objectives' has been defined differently by different authorities in management literature. Some of them are given below: 1. 'Objectives here are the statements of planning purpose developed within any kind of business plan. They are established within the framework of a planning process, and they normally evolve from tentative and vague ideas to more specific declarations of purpose. [...]
After reading this article you will learn about:- 1. Meaning of Sole Proprietorship 2. Definitions of Sole Proprietorship 3. Characteristics 4. Scope and Prospects 5. Advantages 6. Disadvantages. Meaning of Sole Proprietorship: This form of organisation is the oldest and functioning from times immemorial in one form or the other. This is a 'one man business' in which an individual [...]