Photo AI
Explain how Morrisons may benefit from having a mission statement. - Edexcel - A-Level Business - Question 1 - 2017 - Paper 2
Question 1
Explain how Morrisons may benefit from having a mission statement.
Worked Solution & Example Answer:Explain how Morrisons may benefit from having a mission statement. - Edexcel - A-Level Business - Question 1 - 2017 - Paper 2
Step 1
Step 2
Application: Contextualizing for Morrisons
Answer
For Morrisons, their mission statement refers to several key aspects:
- It emphasizes human, ethical, and ecological values.
- It promotes the idea of teamwork and unity among employees.
- It highlights that the company is focused not just on numbers, but on the commitment to community and customer satisfaction.
- It indirectly addresses competitors like Lidl and Aldi, suggesting a commitment to quality and value.
Step 3
Analysis: Benefits of a Mission Statement
Answer
The benefits of having a mission statement for Morrisons include:
- Customers may identify with Morrisons’ values, leading them to prefer shopping there rather than at competitors such as Aldi and Lidl.
- A strong mission statement can motivate employees by providing them with a sense of direction and purpose, fostering a culture of belonging and engagement within the workforce.