Explain how Morrisons may benefit from having a mission statement. Morrisons' mission statement is about valuing human, ethical, and ecological aspects while aiming to be a team-oriented business. This commitment can guide overall strategy and operations. The mission statement can also communicate to customers that the organization prioritizes values that matter to them, which can influence their shopping preferences. Furthermore, it helps create a motivational environment for employees by providing a clear sense of direction and purpose.

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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. Morrisons' mission statement is about valuing human, ethical, and ecological aspects while aiming... show full transcript

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

Knowledge: Understanding Mission Statements

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Answer

A mission statement is a qualitative declaration of an organization’s aims, outlining the core values and purpose that guide its operations.

Step 2

Application: Context of Morrisons

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Answer

For Morrisons, the mission statement emphasizes the following:

Commitment to human, ethical, and ecological values.
Unity within the team, fostering collective effort.
A focus that extends beyond mere numerical performance to include customer experience and community values.
Recognition of competition from discount retailers like Aldi or Lidl.

Step 3

Analysis: Benefits of a Mission Statement

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Answer

Having a mission statement benefits Morrisons in several ways:

Customer Preference: Customers may align with companies that share their values, choosing to shop at Morrisons over competitors who do not emphasize social commitment.
Employee Motivation: A clear mission can motivate employees by giving them a sense of purpose and direction, enhancing job satisfaction and performance.

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Questions answered

Explain how Morrisons may benefit from having a mission statement - Edexcel - A-Level Business - Question 1 - 2017 - Paper 2

Worked Solution & Example Answer:Explain how Morrisons may benefit from having a mission statement - Edexcel - A-Level Business - Question 1 - 2017 - Paper 2

Knowledge: Understanding Mission Statements

Application: Context of Morrisons

Analysis: Benefits of a Mission Statement

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