Capella Importance of Mission and Vision Statements and A Code of Ethics when Starting a New Business

Develop a 3–5 page white paper on the importance of mission and vision statements and a code of ethics 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.
Reference

Senge, P., Kleiner, A., Roberts, C., Ross, R., & Smith, B. (1999). The dance of change: The challenges to sustaining momentum in learning organizations. New York, NY: Crowne Business.

Additional resources and links

An organization’s mission, vision, and ethics statements provide a structure that informs both internal and external stakeholders about its purpose, goals, and values. In combination, such statements are used by internal stakeholders for strategic planning related to establishing priorities, using resources, meeting goals and objectives, and assigning functional areas within organizations. They are also used to communicate the organization’s purpose and goals to external stakeholders.

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A vision statement addresses the overall aspirations of an organization and clearly reflects the direction it assumes to achieve success (Spearmon, 2013). Senge, Kleiner, Roberts, Ross, and Smith (1999) emphasize that organizational visions communicate “a deep purpose that expresses the organization’s reason for existence” (p. 300).

While similar to vision statements, mission statements more specifically inform stakeholders about organizational goals and objectives. Keeling (2013) notes that an organizational mission statement is important because it “creates and communicates a sense of shared purpose” (p. 20) to both internal and external stakeholders.

According to the Ethics Resource Center (2001, p. 2), a code of ethics serves to:

  • Raise ethical expectations.
  • Legitimize dialogue about ethical issues.
  • Encourage ethical decision-making.
  • Prevent misconduct [while providing] a basis for enforcement.

Whether one is a customer, employee, or investor, the ability to analyze an organization’s code of ethics can help to understand the ethical considerations and values that guide business transactions and decisions.

Codes of ethics describe moral judgments about right and wrong actions within the workplace when performing work tasks. Each employee makes his or her decisions about the right way to act. These individual decisions affect how the organization appears to stakeholders. When members of an organization act ethically and in socially responsible ways, oftentimes it may mean less short-term profit. However, it can lead to significant benefits in the long term, such as securing a more loyal customer base, having satisfied employees who want to stay with the organization, attracting highly talented new employees, and attracting investors. By comparison, unethical behavior by members of an organization might damage its reputation, making it less appealing to customers, employees, and investors.

References

Ethics Resource Center. (2001). Code of ethics toolkit: A guide to developing your organization’s code of ethics. Retrieved from Society for Human Resource Management Website: http://www.shrm.org/about/Documents/organization-c…

Keeling, M. (2013). Mission statements: Rhetoric, realty, or road map to success? Knowledge Quest, 42(1), 30–36.

Senge, P., Kleiner, A., Roberts, C., Ross, R., & Smith, B. (1999). The dance of change: The challenges to sustaining momentum in learning organizations. New York, NY: Crowne Business.

Spearmon, S. (2013). Your company vision: If it’s complicated it shouldn’t be. Retrieved from http://www.forbes.com/sites/johnkotter/2013/10/14/…

Preparation

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 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 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.

Use the Capella library and the Internet to locate 3–7 reputable articles on codes of ethics for organizations. Identify examples of codes of ethics, as well as examples of mission and vision statements. You should have at least three resources to support your writing and research.

Requirements

Based on the scenario above, develop a white paper on the importance of mission and vision statements and a code of ethics. Your white paper should have the following sections. A template with this structure is provided in Resources for you to use to create your white paper if desired.

  • 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.

Example assignment: You may use the assignment example, linked in the Resources, to give you an idea of what a Proficient or higher rating on the scoring guide would look like.

Additional Requirements

Based on the intended audience, your white paper should be well organized and written in clear, succinct language. Target 3–5 pages of content. Follow 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:

1. 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 in your references page.

2. 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 in your references page.

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Prepare a 4–5-page white paper in which you identify three functional areas you believe are essential for organizational success. Explain the purpose of each functional area and how the purpose supports organizational goals. In addition, describe the organizational structure best suited for the functional areas, and explain how the functional areas support continued organizational success.

The functional areas within a business or organization contribute to the smooth and effective running of the business. Although the number and names of the functional areas vary from organization to organization, there are five that are key in almost every organization: Human Resources, Accounting and Finance, Sales and Marketing, Production and Operations, and Information Technology (IT) Systems.

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 primary purpose of functional areas of an organization.
    • Explain how the purpose of functional areas supports the organizational goals.
    • Describe the type of organizational structure best suited for functional areas.
  • Competency 5: Communicate in a manner that is scholarly, professional, and consistent with expectations for the field of business.
    • Write in a well organized, clear, and succinct manner.

Additional Links and information

Organizational structure shapes and defines behavior within an organization, details the lines of authority and accountability, and determines the nature of the organization’s relationship with its external stakeholders. It also maps the grouping of jobs within the organization and provides a transparent understanding of its management hierarchy.

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Ideally, organizations should be structured in ways that allow for the efficient and effective achievement of organizational goals. Having a clear organizational structure in place is a prerequisite for sustained success, yet many companies have organizational structures that do not contribute positively to their overall performance.

Within the overall structure of an organization are different areas that work together to help achieve the goals of leadership and personnel. These areas are often referred to as departments or functional areas. Human Resources, Sales and Marketing, Information Technology, Production and Operations, and Finance and Accounting are some examples of functional areas. Organizations need functional areas, but not all organizations separate them the same ways. Functional areas vary within organizations, depending on their focuses. Each area contributes in different ways to make sure the organizations reach their objectives and achieve effectiveness and efficiency.

In the past, large organizations tended to view their structures as more or less fixed hierarchies, part of the infrastructure required to build an entity that would last. In today’s business environment, most successful leaders view organizational structures as fluid, with frequent restructuring viewed as a primary means to keep the company competitive and responsive to the marketplace.

Preparation

Suppose leadership in the organization where you currently work (or have worked) is considering changes to organizational structure—in particular, to the functional areas it currently has. Before making any changes, the leaders have asked several managers, including you, to develop a white paper that outlines the manager’s recommendations for three functional areas that he or she believes to be essential to the success of the company. Based on the recommendations of each manager, as well as the strength of each manager’s arguments and supporting references, leadership will make final decisions.

Use the Capella library and the Internet to research functional areas of organizations and the purpose of these functional areas with regard to organizational goals. Use 3–7 reputable resources to support your writing in this assessment.

Requirements

Select the three functional areas that you believe to be essential to the success of your organization. For each functional area, describe the primary purpose of the area and then explain how that purpose works to promote and support the organizational goals.

Your white paper should have the following sections. A template with this structure is provided in Resources for you to use to create your white paper if desired.

  • Title page.
  • Introduction.
    • Explain the type of organization the assessment is based on and its primary goals.
    • Identify the three functional areas you believe are essential to the organizational structure.
  • Functional Area 1.
    • Explain the primary purpose of the functional area of an organization and why it is essential in supporting the overall organizational structure.
    • Explain how the purpose of the functional area supports the organizational goals in terms of continued organizational success.
  • Functional Area 2.
    • Explain the primary purpose of the functional area of an organization and why it is essential in supporting the overall organizational structure.
    • Explain how the purpose of the functional area supports the organizational goals in terms of continued organizational success.
  • Functional Area 3.
    • Explain the primary purpose of the functional area of an organization and why it is essential in supporting the overall organizational structure.
    • Explain how the purpose of the functional area supports the organizational goals in terms of continued organizational success.
  • Recommended Organizational Structure
    • Describe the type of organizational structure best suited for the functional areas you selected and justify your recommendation.
  • Conclusion.
    • Explain how your recommendation will promote continued success of organizational goals.
  • Reference page.

Example assignment: You may use the assignment example, linked in the Resources, to give you an idea of what a Proficient or higher rating on the scoring guide would look like.

Additional Requirements

Based on the intended audience, your white paper should be well organized and written in clear, succinct language. Target 4–5 double-spaced pages of content. Follow 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:

1. 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 in your references page.

2. 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 in your references page.

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