Mission statement - A written declaration of an organization's core purpose and focus that normally remains unchanged over time.

Advantages:

• Can help with decision making
• Gives employees a direction

Disadvantage:

• If too vague they are useless
• Can be unrealistic which could demotivate when not achieved

Corporate objectives - The mission statement usually gives a vague idea of the purposes, corporate objectives are meant to be a more specific set of objectives linked to it.

Corporate Social Responsibility (CSR) - This is the self regulation of a business that insures that it is not harming any stakeholders because of how they do business.

Examples of these responsibilities are:

• Being environmentally responsible
• Help the community that they are based in
• Giving back to society through their projects

Advantages: More people will want to work at the company Better reputation with customers can lead to more sales Suppliers more likely to work with you Better retention of staff

Disadvantages: Once You have started any mistake can destroy your reputation More costly to operate like this Might limit your future projects