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Mission statements, aims and objectives

Mission statement
A mission statement is a short written statement of the purpose of an organisation. The mission statement should guide the actions of the organisation, spell out its overall goal, provide a sense of direction, and guide decision-making.

Are mission statements useful?


Advantages: Give employees a sense of purpose and something to aim for. Can be used as a promotional tool lets external stakeholders know the companys purpose.

Are mission statements useful?


Disadvantages: Formally stating aims not necessary for success. Writing aims down does not mean they will be achieved. Hard to develop in diversified organisations Just a publicity tool not a true reflection of companies aims.

Unilevers mission statement


Our mission is to meet everyday needs for nutrition, home hygiene and personal care with brands that help people feel good, look good and get more out of life. Do you think this is a good mission statement?

Activity
Write down a list of aims and objectives that you think Unilever are trying to achieve.

Unilevers objectives
Write these into the first column of your table

Increase sales (turnover) Increase market share competitors (Procter & Gamble, Nestl, Kraft Foods, Mars Incorporated, Reckitt Benckiser) Increase share price (two share prices Unilever NV and Unilever plc) Increase profits Be socially responsible i.e. ethical e.g. sustainability Expand into overseas markets

Activity
Use the sheet to assess how well Unilever are achieving their objectives.

Exam questions
Key terms explain the term and give an example Mark scheme 1 mark definition 1 mark development 1 mark example Turnover Mission statement

Exam questions
Section A What is meant by the term objective. (2) Mark scheme: 1 Define the term; 1 further detail or example Describe two objectives Unilever might have. (4) Mark scheme: For each objective: 1 state relevant objective; 1 description of the objective

Key terms noughts and crosses


Conglomerate Public Limited Company Fast Moving Consumer Goods

Diversified

Share price

Social responsibility

Market share

Franchise

Target market