Develop a 35 page report on the importance of a code of ethics and mission and vision statements when starting a new business. Explain the purpose of each, identify the key elements for each, and explain how they can affect the success of a business.
An organization\’s structure as identified through its mission and vision statements and code of ethics establishes a foundation for sustaining business practices as well as managing change during times of transition. Such components are organizing principles that serve to align personnel and functional areas to a business\’ overall ideals. In combination, such statements and codes inform both internal stakeholders (such as employees) and external stakeholders (such as business partners and customers) about the organization\’s priorities, values, and standards, explaining to them the ways in which the business will be responsive to their needs. It is important that mission and vision statements and codes of ethics are interrelated and consistent, and that they accurately reflect current environmental dynamics and practices. Senge, Kleiner, Roberts, Ross, and Smith (1999) emphasized that in order for such structural components to be effective they must be conceived and communicated carefully, realistically, and meaningfully.
SHOW LESS
By successfully completing this assessment, you will demonstrate your proficiency in the following course competencies and assessment criteria:
Competency 1: Explain the underlying principles of successful business.
Explain the purpose of mission and vision statements.
Identify key elements within mission and vision statements.
Explain the role of a company\’s leadership in promoting and supporting the vision, mission, and ethical principles of the company.
Competency 2: Examine ethical principles associated with the field of business.
Explain the purpose of a company\’s code of ethics.
Identify key elements within a code of ethics.
Explain the relationship between a company\’s code of ethics and its mission and vision statements.
Competency 5: Communicate in a manner that is scholarly, professional, and consistent with expectations for the field of business.
Write coherently using correct grammar, usage, and mechanics.
Use evidence to support a central idea in a consistently appropriate APA format.
Preparation
Suppose you have been hired by a small group of partners who is in the process of starting a new business. The business will design, produce, and sell an innovative product to the bio-medical 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 convince them that this is an important step in establishing a new business.
Use the Capella library and the Internet to locate 37 scholarly and professional articles on codes of ethics for organizations. Identify examples of codes of ethics, as well as examples of mission and vision statements. You must have at least three resources to support your writing and research.
-Requirements-
Based on the scenario above, develop a report on the importance of a code of ethics. Format your report according to APA guidelines. In your report, be sure you complete the following:
Explain the purpose of mission and vision statements for a company.
Identify key elements that should be included in mission and vision statements.
Explain the purpose of a code of ethics for a company. Be sure you consider who the code is directed toward: Leadership, employees, or customers?
Identify key elements that a code of ethics should contain.
Explain the relationship between a company\’s mission and vision statements and its code of ethics. How can they affect the success of a business?
Explain the role of an organization\’s leadership in promoting and supporting the vision, mission, and ethical principles of the organization.
Additional Requirements
Formatting: APA formatted, including a title page and reference page.
References: Use 37 current scholarly or professional resources.
Page length: 35 pages, double spaced, Times New Roman 12-point font.
To deepen your understanding, you are encouraged to consider the questions below and discuss them with a fellow learner, a work associate, an interested friend, or a member of your professional community.
-QUESTIONS TO CONSIDER
Why is it important for professional organizations to have a code of ethics?
Should a code of ethics apply only to how an organization deals with external relationships, such as how customers are treated, or should it also apply to how employees of the organization are treated?
What is an example of a mission statement for an organization? How does a mission statement differ from a vision statement?
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