A-Level Edexcel Business Managing Change: Explain how Morrisons may benefi

Question

Explain how Morrisons may benefit from having a mission statement.

Morrisons' mission statement highlights the company's commitment to values that go beyond mere numbers. The statement emphasizes human, ethical, and ecological values, asserting that the organization believes in being more than just a business focused on profits.

By having a well-defined mission statement, Morrisons can create a strong sense of purpose that aligns its employees and appeals to its customer base. This shared vision fosters collaboration and teamwork among staff, as they are all working towards the same goals, enhancing overall workplace morale.

Additionally, in a competitive market dominated by discounters like Aldi and Lidl, the mission statement positions Morrisons as a company that prioritizes values. This can attract customers who prefer to shop at businesses that reflect their own values, potentially increasing customer loyalty.

Furthermore, a mission statement provides direction for employees, helping them understand their roles within the company and motivating them to contribute positively towards the company's objectives.

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: Explain the purpose of a mission statement.

Application: How does Morrisons' mission statement apply?

Analysis: What are the benefits of a mission statement for Morrisons?

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