With reference to Starbucks or any other organisations you know, to what extent do you agree that a clear mission statement is crucial to the success of a business?
A Mission Statement is a brief summary of an organisations aims and values stating the main purpose of the businesses existence Every company no matter how big or small, should have a mission statement as a source of direction, a kind of compass, that lets its employees, its customer, and even its stockholders know what it stands for and where its heading. A good mission statement should indicate who your key customers are, the products/services you deliver and the geographical location in which you operate.
McDonald's Mission Statement:
McDonald's vision is to be the world's best quick service restaurant experience. Being the best means providing outstanding quality, service, cleanliness, and value, so that we make every customer in every restaurant smile Google’s Mission Statement: Google's mission is to organize the world's information and make it universally accessible and useful. These are both good examples of mission statements because they give a clear overview of what their business are about and what they aim to achieve. This can heavily contribute to the success of a business because it communicates the corporate aims to all the stakeholders, therefore giving potential investors a better reason to invest. Some stakeholders may match it to their own moral values and develop a good impression of the company. Also, it enables employees to identify the company’s visions and values. This can help motivate as well as inspire them because they are working for a cause rather than...