Core Values in Business

Business values are important because they:

• Define the company's identity and culture

• Are only important for marketing purposes

• Have no impact on employee motivation

• Are irrelevant to business success

Core values affect the way a business operates by:

• Guiding decision-making processes

• Increasing operational costs

• Reducing employee motivation

• Limiting market expansion

Core values might remain the same even if business plans and strategies change because:

• They are fundamental beliefs that guide a company's actions.

• They are easily adaptable to new strategies.

• They are only relevant to short-term goals.

• They are frequently updated to match business plans.

What is the product mission of Ben and Jerry's Ice Cream?

• To make the best ice cream in the nicest possible way

• To become the largest ice cream manufacturer

• To reduce production costs

• To expand globally

The economic mission of Ben and Jerry's Ice Cream focuses on:

• Maximizing profits for shareholders

• Creating prosperity for everyone connected to the business

• Expanding globally to increase market share

• Reducing production costs to offer lower prices

How does the social mission of Ben and Jerry's Ice Cream aim to impact the world?

• By focusing solely on profit maximization

• By promoting environmental sustainability and social justice

• By reducing the variety of ice cream flavors

• By outsourcing all production to other countries

One of the core values of Starbucks related to creating a welcoming environment is:

• Providing excellent customer service

• Offering a wide variety of coffee blends

• Creating a culture of warmth and belonging

• Ensuring fast service

What is described as a description of what the organisation expects to accomplish, usually outlined in the business plan?

• Mission Statement

• Vision Statement

• Executive Summary

• Financial Plan

A long-term plan of action designed to achieve a particular goal or set of goals or objectives is called?

• Strategy

• Tactic

• Mission

• Vision

What are the precepts that guide the organisation throughout its life in all circumstances, irrespective of changes in its goals, strategies, the type of work or the top management?

• Core values

• Mission statement

• Vision statement

• Operational goals