Chapter 1 my version(50 words)

Functional objectives are set for each division or department of a business.Also the functional objectives will use to ensure that the business can achieves its corporate objectives.
corporate objectives are design to enable a business achieves the aims and mission.
A strategy is basis on a specific objective, strategies are the medium to long term plans that how a business achieve their objectives.

10 key points

1. functional objectives basis on corporate objectives.
2.functional objectives is an individual department of business.
3.strategies basis on objectives.
4.it is important to make sure that all members are understanding the overall objectives.
functional and corporate objectives are SMART:
5. specific-very clear and easy to define
6.measurable-quantifiable( e.g to reduce the market share from 40% to 25% in next 2 weeks.)
7.agree-manager and coordinate are involved in setting the target.
8.realistic-no conflict with other objectives
9.time bounds- basis on the accurate time (e.g build 10 news stores)

10. business strategies is a medium to long term plans.