FTSE100 Annual Report Review Reveals M&S Lacks a Clear Purpose Statement

Why 100 Big UK Companies Are Still Struggling With Purpose

We recently dug into the latest study from Given, the award‑winning consulting firm that gets companies to think about their “real reason for being.” Their fresh report on the FTSE 100 shows a surprisingly uneven playbook on purpose statements.

Four Companies Fall Short

Out of the 100 giants listed on the FTSE 100, only 97 actually claim to have a purpose statement. The few that are missing it include M&S and a handful of other heavyweights, which is a bit of a mystery considering how often corporate ESG messaging pops off the press.

Are the Others Good Enough?

Even among those who say they have a purpose, a review using Given’s “Purpose Framework” points out that many statements read like a polite formality. They lack:

Credibility – They fail to link a company’s unique strengths with real‑world problems.
Inspiration – The language is bland; they don’t spark or motivate.
Actionability – Without clear steps, they’re more fluff than roadmap.

What Words Do They Use?

When scanning the CEOs’ declarations, the most common buzzwords pop up: Better, People, World, Create, Customers, Sustainable. These are the rungs people expect on a ladder of purpose‑driven goals. It’s like everyone’s shouting the same elevator pitch.

Why Purpose Pains Us

Given says a true purpose is a management strategy that creates value while getting profit and solving real human and planetary challenges. When executed right, it can boost performance, drive growth, and leave a lasting societal footprint. But the fact that many FTSE entrants fall short suggests that profit‑mind the world is still a brand new idea for most.

You’ve Got the Pieces, Now Rip It Together

Connect your unique capabilities to real problems.
Keep it simple and inspiring—no corporate jargon, just a single clear idea.
Make it actionable—every decision should feel tied to that purpose.

Bottom line: The big names are out here doing the fancy word‑smithing, but a lot of them have yet to translate words into real work. It’s a wake‑up call that purpose isn’t just about saying the right thing; it’s about doing the right thing—whether you’re a retailer, a bank, or a tech giant.

Companies without purpose statements

Why the Big Five UK Firms Are Floating Without a Purpose

The latest deep dive into the UK’s market giants reveals that three heavy‑weights of the FTSE100—Marks and Spencer Group, Flutter Entertainment, and Pershing Square Holdings—are missing one crucial ingredient: a clear purpose statement. Even though the law doesn’t force a company to spell out its “why,” the UK Corporate Governance Code says a board should, and it nudges executive pay to line up with that purpose.

What’s the Gist?

Marks & Spencer is known for its “fashions for everyone” slogan, but no official state of “we’re here to empower shoppers” yet.
Flutter Entertainment—the gaming powerhouse—doesn’t have a public mission, just flippin’ fortunes around online casinos.
Pershing Square Holdings is an investment juggernaut, but it serves up its strategy like a secret menu item.

Why It Matters

Becky Willan, CEO and co‑founder of Given, weighs in: “Without a crystal‑clear purpose, executive teams struggle to craft long‑term strategies that tackle the climate crisis, social inequality, and other real‑world challenges. Think of purpose as the compass—if you don’t know where you’re heading, you might as well be flying blind.”

Bottom Line

Even if the boards aren’t legally pressed, the missing purpose statements are like a vague GPS—flimsy at best. Companies must land a true north direction if they want to keep navigating the stormy waters of today’s business world.

Purpose statements that fall short

When Purpose Misses the Mark

According to a recent deep dive, a lot of big companies keep tossing out buzz‑word slogans that sound nice on paper but fall flat in reality. Take RS Group’s “Making amazing happen for a better world.” Sounds grand, but it’s basically a free‑form dream with no tie‑in to what the company actually does on the plant floor. And then there’s Burberry’s “Creativity opens spaces” – a line so lofty that even someone in finance or HR would wonder how they could use it to change a quarterly budget report or a hiring strategy.

Why a Credible Purpose Matters

Becky keeps mapping the checklist: it needs to

Align with the core business goals
Speak to employees’ everyday experience
Tick off what outsiders expect from the brand

She also reminds us that a purpose statement should feel active – like a rally cry – show who is being helped, how it’s being helped, and link cleanly to the industry the company is part of. If it misses any of those, the impact—both inside the organization and wider society—tends to stay at zero.

Case Studies That Actually Work

Turns out the FTSE 100 folks aren’t all bad either. There are a handful that’ve nailed it:

Hikma Pharmaceuticals – “Putting better health within reach, every day.” It ties straight into the pharma sector and promises a tangible benefit for patients.
United Utilities Group – “Provide great water for a stronger, greener and healthier North West.” A clear‑cut link to their water‑service niche and a real‑world objective for the local community.

These phrases don’t just sound good; they have concrete promises backed by day‑to‑day operations. That’s what makes them credible—and what turns a slogan into a strategic action plan.

Prioritising profit over purpose

FTSE100 Firms and the “What’s It All About?” Dilemma

Turns out more than a dozen percent of FTSE100 companies that brag about having a “purpose” are actually just chirping “Profit ≥ First.” Take B&M European Value Retail, for instance: their mission statement sounds like a sales pitch for a discount store. “Deliver great value to our customers so they keep returning to our stores time and time again.” Pretty flat, right?

Why “Profit” Isn’t the Whole Story

Becky calls it out: “Maximising profit isn’t a purpose, and businesses that have limited their purpose to that intent are falling into the trap of short‑term thinking, not long‑term value creation.” The point is that while the green light of quick gains is tempting, it’s not the best roadmap for real, lasting growth.

Words That Matter

The good news? CEO and chairman chats show a hearty appetite for purpose‑driven talk. 58 % of chairmen and 57 % of CEOs weave their declared purpose into their speech. That’s a pretty solid nudge that purpose isn’t just a feel‑good buzzword – it actually drives the company’s performance.

Some organisations even go the extra mile, mentioning their purpose style over 15 times in reports. Picture a PR‑proud reminder that “we’re here for something more.”

Why the Purpose Gap Matters

Becky reminds us that a purpose statement isn’t just a trend banner; it’s the “starting gun” of a purposeful strategy. If you want to be truly purpose‑driven, you’ve got to:

Define a powerful purpose that screams clarity and focus.
Let it live in your day‑to‑day decisions, culture, and strategy.
Keep reminding the team about the why behind the what.

Don’t let your purpose be an echo in an empty hall. It needs to live, breathe, and drive real change.

Bottom Line: Swell, Not Sole

When the UK’s biggest players peek, most are missing the opportunity to turn a purpose into a powerhouse. Too often, crafted objectives sound more like marketing fluff than a genuine call to action. The moral of the story: a good purpose statement is a launchpad, not a finish line. Starts the race, keeps you moving.