bus fp3007 assessment 1 mission vision and ethics in organizations
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. SHOW LESSBy 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 businesses.
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.
Organize content so ideas flow logically with smooth transitions.
Competency Map
CHECK YOUR PROGRESSUse this online tool to track your performance and progress through your course.
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Context
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.SHOW LESSA vision statement addresses the overall aspirations of an organization and clearly reflects the direction it assumes to achieve success (Spearmon, 2013). 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 you are a customer, employee, or investor, the ability to analyze an organization’s code of ethics can help you 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: https://www.shrm.org/about-shrm/Documents/chapter-coe.pdfKeeling, M. (2013). Mission statements: Rhetoric, realty, or road map to success? Knowledge Quest, 42(1), 30–36.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/…
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Resources
Critical Thinking
You may wish to use the following resources to hone your ability to think critically, a skill you must use in this course:
Greengard, S. (2009). Are we losing our ability to think critically? Communications of the ACM, 52(7), 18–19.
Zucker, A. (2019). Using critical thinking to counter misinformation. Science Scope, 42(8), 6–9.
Paul, R., & Elder, L. (2007). Critical thinking: The art of Socratic questioning. Journal of Developmental Education, 31(1), 36–37.
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Mission and Values
You may wish to use these resources to inform your assessment:
Dumitrasu, M., & Feleaga, L. (2019). Mission, vision, and values of organizations, the catalysts of corporate social responsibility. Audit Financiar, 17(153), 142–148.
Ferdowsian, M. C. (2016). Total business excellence – a new management model for operationalizing excellence. The International Journal of Quality and Reliability Management, 33(7), 942–984.
Chen, R. C. Y., & Lee, C. -H. (2017). Assessing whether corporate social responsibility influence corporate value. Applied Economics, 49(54), 5547–5557.
Osorio-Vega, P. (2019). The ethics of entrepreneurial shared value. Journal of Business Ethics, 157(4), 981–995.
Check Your Understanding: APA Formatting
You will be expected to apply APA formatting to citations and references in this course. As a quick review and to check your understanding, you may wish to complete the following brief self-assessment:
APA Formatting: Understanding Citations and References.
To learn the basics of how to use APA citation style for all types of resources, including library articles, online articles, and websites, explore the following resource:
APA Module.
Research Resources
You may use resources of your choice to prepare for this assessment; however, you will need to ensure that they are appropriate, credible, and valid. The BUS-FP3007 – Developing a Business Perspective Library Guide can help direct your research. The Supplemental Resources and Research Resources, both linked from the navigation menu in your courseroom, provide additional resources to help support you.
Assessment Instructions
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. You may use the Assessment 1 Template [DOCX] 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 assessment: You may use the Assessment 1 Exemplar [PDF] 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, in addition to a title page and references page.
Include at least three reputable resources to support your ideas.
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:
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.
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.
Note: Faculty may use the Writing Feedback Tool when grading this assessment. The Writing Feedback Tool is designed to provide you with guidance and resources to develop your writing based on five core skills. You will find writing feedback in the Scoring Guide for the assessment, once your work has been evaluated.
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