Order Instructions
MISSION, VISION, AND ETHICS IN ORGANIZATIONS
Scenario
Suppose you have been hired by a small group of partners who are in the process of starting a new business. The business will design, produce, and sell an innovative product to the biomedical industry. The partners have a great deal of experience designing products but very little knowledge about starting a business. Due to the sensitive nature of the new business, you feel that the partners need to develop a code of ethics and a mission and vision statement for the company. They do not agree. You need to write a white paper (a document providing information on a topic) to convince them that this is an important step in establishing a new business.
Instructions
Based on the scenario above, develop a white paper on the importance of mission and vision statements and a code of ethics. Use the Week 4 Assignment Template [DOCX] to develop your white paper with the following sections.
Purpose of Mission and Vision Statements.
Explain the purpose of mission and vision statements using real-world examples and supporting evidence.
Key Elements of Mission and Vision Statements.
Identify key elements within mission and vision statements and explain why the elements are important for a company.
Purpose of a Code of Ethics.
Explain the purpose of a code of ethics and why the code should be directed toward all stakeholders, including leadership, employees, and customers.
Key Elements of a Code of Ethics.
Identify key elements within a code of ethics and explain why the elements are important for a company.
Relationship Between a Company’s Mission and Vision Statements and Its Code of Ethics.
Explain the relationship between a company’s mission and vision statements and its code of ethics in terms of strategic management.
Role of Leadership in Promoting and Supporting the Mission, Vision, and Code of Ethics.
Explain the role of an organization’s leadership in promoting and supporting the mission, vision, and ethical principles of the organization, and discuss the consequences of a leader who fails to promote and support the mission, vision, and ethical principles of the company.
Your white paper should be 3–5 pages in length, well organized, and written in clear, succinct language. Follow current APA rules for attributing sources that support your analysis and conclusions.
Academic Integrity and APA Formatting
As a reminder related to using APA rules to ensure academic honesty:
When using a direct quote (using exact or nearly exact wording), you must enclose the quoted wording in quotation marks, immediately followed by an in-text citation. The source must then be listed on your references page.
When paraphrasing (using your own words to describe a non-original idea), the paraphrased idea must be immediately followed by an in-text citation, and the source must be listed on your references page.
Refer to the scoring guide to ensure that your work meets the grading criteria for this assignment.
Example assignment: You may use the Week 4 Assignment Example [PDF] EditSign to give you an idea of what a Proficient or higher rating on the scoring guide would look like.
Additional Requirements
Your assignment should also meet the following requirements:
Written communication: Communication should be clear and well organized, and support a central idea, with no technical writing errors, as expected of a business professional.
References: References and citations are formatted in consistent style, with a preference for using current APA style and formatting.
Number of resources: Use a minimum of three scholarly resources related to the content of the assignment.
Length of paper: 3–5 typed, double-spaced pages, in addition to the title and references pages.
Font and font size: Times New Roman, 12 point.
Once you have completed your assignment, submit your paper to SafeAssign as a draft. Review the report and correct any citations you missed or cited incorrectly before submitting your assignment for grading.
SAMPLE ANSWER
Mission Statement, Vision Statement, and Code of Ethics in Organizations
Purpose of Mission and Vision Statements
The mission statement describes the type of business, the goals of the business, and the methodology it uses to attain those goals. The vision statement illustrates the position the business targets in the future.
Key Elements of Mission and Vision Statements.
A mission statement contains details, including the business’s values, goals, and purpose. This can be seen in Tesla’s Mission statement, which succeeds in expressing its goals and purpose for a future running on sustainable energy. It also shows its values (environmental responsibility) driven by a desire to attain clean, sustainable energy. Tesla’s Mission Statement is “To accelerate the world’s transition to sustainable energy” (Musk, 2018). On the other hand, elements that define a vision statement include being motivational, inspirational, and forward-looking. The vision statement spells out the business’s core reason for existence and the company’s direction. The vision statement is also used to indicate the business’s core values and culture. The vision statement is intended to guide the actualization of improvements and other benefits to a business (Fisch & Davidoff, 2020).
Purpose of a Code of Ethics.
A code of ethics is important as it specifies the conduct expected of the people representing the organization. The code of conduct further informs these people that act on the organization’s behalf of its values and expected morals, setting out the standards these people (all levels of an organization’s employees and other stakeholders/third parties) must uphold. The code of ethics is directed at all the stakeholders in an organization as it helps to promote integrity in all those transact for the organization. The code of ethics also promotes trust in the organization from key stakeholders such as consumers/customers and investors like the organization’s shareholders (Bowen, 2018).
Key Elements of a Code of Ethics.
The code of ethics contains elements that promote respect, fairness, trustworthiness, honesty, integrity, and responsibility. The code reflects issues affecting employees and other stakeholders, such as values, legal, and compliance issues (Bowen, 2018).
Relationship between mission and vision statements and code of ethics
The code of ethics, the mission and the vision statement are linked together strategically. The code of ethics is reflected in the two statements as the statements are structured to show a commitment to the values of the organization
Failure to implement mission and vision statements and a code of ethics
A business manager that fails to enact proper code of ethics risks having the company lose credibility as the workers fail to work ethically. The failure to have properly established mission and vision statements leaves the organization’s workers, customers, and all stakeholders without a clear idea about the company’s agenda, aspirations, and values.
References
Bowen, S. (2018). Mission and vision – major reference works – wiley online library. Retrieved November 4, 2022, from https://onlinelibrary.wiley.com/doi/abs/10.1002/9781119010722.iesc0111
Fisch, J. E., & Davidoff Solomon, S. (2020, March 27). Should corporations have a purpose? SSRN. Retrieved November 4, 2022, from https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3561164
Musk, E. (2018, May 24). The mission of Tesla. Electric Cars, Solar & Clean Energy. Retrieved November 4, 2022, from https://www.tesla.com/blog/mission-tesla
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