What term describes the overarching goals of a medium to large-sized business?

The term that best describes the overarching goals of a medium to large-sized business is corporate objectives. These objectives are broad statements that define what the organization aims to achieve over a specified period, often shaped by the overall vision and mission of the company. They encompass various aspects of the business, such as profitability, market share, growth, and sustainability, providing a strategic direction that aligns with the company's corporate strategy.

In contrast, corporate strategy refers to the overall plan to achieve these objectives, focusing on how resources will be allocated to meet the goals set by the corporate objectives. Functional objectives are more specific goals set by different departments (like marketing or finance) to support the broader corporate objectives. Departmental goals, while important, are even narrower and pertain to specific teams or areas within a business, leading to misalignment if they do not support the overarching corporate objectives.