Explain how Morrisons may benefit from having a mission statement. Morrisons’ mission statement emphasizes the importance of values, including human, ethical, and ecological perspectives. It asserts that the organization is more than just numbers and focuses on a team-oriented approach, underscoring the commitment to its principles.

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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 emphasizes the importance of values, including human, ethical, and e... 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 serves as a qualitative statement of an organization’s aims, outlining its core values and purpose.

Step 2

Application: Context for Morrisons

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Answer

For Morrisons, the mission statement refers to its commitment to:

Human, ethical, and ecological values
Being one team focused on shared goals
Not just concentrating on numbers but on creating value for customers
Differentiating from competitors such as Lidl and Aldi

Step 3

Analysis: Benefits of the Mission Statement

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Answer

The mission statement benefits Morrisons by:

Attracting customers who resonate with Morrisons’ values and are likely to prefer shopping there over competitors
Providing employees with motivation and a clear sense of direction in their work

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