Page 6 - 5.2 i. Manac Finance ITC Summarised Notes
P. 6
STRATEGY AND GOVERNANCE
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Important Terminology
• Mission statement
• defines the core purpose of the entity (why does the entity exist?).
• Vision
• communicates where the entity sees itself in the future (where it
intends to be in the long-term).
• Goal
• derived from the mission and vision.
• Objectives
• provide clarity in specific, measurable, attainable, realistic and
timely (SMART) terms, on what needs to be done in order to
achieve the goals.
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