Essay Sample on Mission, Vision Statements: Essential for Business Growth and Differentiation

Introduction

The mission and vision statements are essential in the development and growth of the business. As a result, the strategic management of any organization is keen on understanding the roles played by the mission and vision statements. There are several purposes of these statements, but the main ones include: distinguishing of organizations. Every organization has its unique vision and mission statements hence helping the people to differentiate between one company and another (Taiwo, Lawal & Agwu, 2016). In other words, the public identifies each of the organizations with a specific vision and mission statement. Secondly, these statements information about the features and values of an organization. In most cases, the mission and the vision statement are a summary of the functions, ethics, believes, and values of the organization.

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Also, they help the organization to connect with the consumers. For example, the purpose of coca-cola is to refresh and inspire people as it is stated in its mission statement. Additionally, the vision and mission statements also influence the employees to work towards attaining the company goals. These statements serve as the guideline, and therefore they end up influencing the daily activities of clients. The final purpose of the mission and vision statement is to communicate the organization's position in its interactions with the customers. The statements explain the kind of customer rapport that the organization plans to create and maintain.

Key Elements of Mission and Vision Statements

The mission and the vision statements have several key elements.one of those elements is purpose. The mission and the vision statement must state the primary reason for the existence of the organization. This element is also used to state the organization's future direction. The second element is the capability (Taiwo, Lawal & Agwu, 2016). Generally, vision and mission statements should explain the capacity of the business. Also, it should mention the strengths, weaknesses as well as advantages of the Company. The core abilities of the business are also part of the capability element.

Thirdly, mission, and vision statements are inspirational. This means that these statements are sending motivation and inspiration messages to all the people who come across them. The fourth element is clarity. Both the mission and vision statements should be clear and concise. In other words, they should be an essay to understand. Moreover, the message conveyed should be easy to understand and interpret. The fifth element is legacy (Taiwo, Lawal & Agwu, 2016). The mission and vision statements should have the capacity to capture and communicating the organization's legacy. The mission should outline the things that the organization is providing to the market. Finally, the mission and vision statements are accommodative. They should accommodate the dynamics happening in the industry in the future. Therefore, some companies revise their statements often.

Purpose of the Code of Ethics

Code of ethics is essential in the setting and growth of any organization.it is important to note that code o ethics refers to the designed principles for a particular group of professionals stating the right and wrong things values as per the Company and the profession. There are several purposes of the code of ethics, and they include: communicating the values of a certain profession as well as the organization (Lacny, Lukacova & Kovalcikova, 2018). For instance, one of the codes of ethics considered by all organizations is honesty. The business expects its employees as well as clients, to be honest about the matters affecting them. Honesty is also needed during transactions.

Another purpose is listing the professional skills that an employee should have. Different professions demand employees behave and act in a certain manner. Also, the code of ethics provides guidelines about the interaction of professionals and clients. Specifically, it explains the confidentiality policy. Finally, the code of ethics protects clients from abuse. Both the professional and the clients are made to be aware of the boundaries between their interactions.

Key Elements of a Code of Ethics

There are many elements of a code of ethics. Clarity is one of the elements that each code of ethics should have. A code of ethics should be clear and brief in stating both the organization and the profession's values (Lacny, Lukacova & Kovalcikova, 2018). Both professionals and clients should easily understand it. The second element is the directionality. It means that a code of ethics should provide a road map of the relevant profession. It should have the capacity to show different steps and requirements. Notably, a good code of ethics is not restrictive.

A goal is also another element that encourages cohesiveness and equality. Every code of ethics should enable professionals in the field to have targets. These targets are tailored to promote community cohesiveness and equal treatment in the industry. The next element is the reflectiveness. A code of ethics should reflect on the instruments of the organizations as well as those of the individual. The characteristic facilitates the evaluation of the reality of the set values and also the efforts made by professionals towards implementing those values. The results lead to either revision of the values or replacement if found to be ineffective.

Relationship Between a Company's Mission and Vision Statements and Its Code of Ethics

The Company's mission and vision statements relate to a code of its code of ethics in different ways. First, the mission and vision provide the purpose and the direction adopted by the Company. On the other hand, a code of ethics states the principles of the Company that should be followed by employees. Therefore, for the employees of the Company to achieve certain future goals mentioned in the statements, the employee also observes certain principles (Grigoropoulos,2019). In other words, the statements and code of ethics of the Company should not conflict. For example, according to statements, the Company serves more customers in the future. Hence it should not violate the consumer's and employees' rights in the process of attaining this goal. Notably, some companies mention some of their ethical values in their mission and vision statements.

Role of Leadership in Promoting and Supporting the Mission, Vision, and Code of Ethics

Leaders play several significant roles in promoting the Business Mission, vision, and code of ethics. The first role is that the organizational leaders are responsible for the creation of foundations for the statements and a code of ethics (Grigoropoulos,2019). The leadership also develops a platform that promotes the integration between the statements and a code of ethics. The leadership pioneers that practice of the organizational principles and values. In other words, the organizational leaders not only develop the principals but also act as examples in the organization. The leadership also monitors and evaluates the adherence to the organization's mission and vision statements as well as a code of ethics. Continuous assessment enables them to determine how effective the organization employees are acting according to the values and the statements. The leadership seeks feedback from the Company's employees about the its current code of ethics as well as suitable changes in the future.

References

Grigoropoulos, J. E. (2019). The Role of Ethics in 21st Century Organizations. International Journal of Progressive Education, 15(2), 167-175. EISSN-1554-5210

Lacny, M., Lukacova, J., & Kovalcikova, I. (2018). Specifics of introducing a code of ethics into the academic environment. Ethics & Bioethics, 8(1-2), 91-108.Doi: https://doi.org/10.2478/ebce-2018-0011T

Aiwo, A. A., Lawal, F. A., & Agwu, E. (2016). Vision and Mission in Organization: Myth or Heuristic Device?. The International Journal of Business & Management, 4(3). ISSN 2321-8916