BUS FP3007 Assessment 1 1.docx Running head: MISSION, VISION, AND ETHICS IN ORGANIZATIONS

BUS FP3007 Assessment 1 1.docx  Running head: MISSION, VISION, AND ETHICS IN ORGANIZATIONS  1  BUS-FP3007  Vision, Mission, and Ethics in Organizations  Capella University  Purpose of Mission and Vision Statements  One thing that all businesses have in common is that they all have a goal which they are looking to achieve, a plan or strategy on how to reach it, as well as future direction for the evolution of the company. Quite often, businesses communicate these goals, and visions by using tools such as Mission and Vision Statements. A mission statement describes the company™s overall objective. The purpose of a mission statement is to outline these ideas and to provide a strategy on how they expect to achieve them. On the other hand, the purpose of a vision  statement is to communicate the company™s future goals and aspirations of where they would like to be once their mission is fulfilled. These statements serve as information to the public, internal and external shareholders, customers, and vendors. They allow everyone to know the company™s values and permit employees to be informed and motivated to help work toward reaching these goals. Essentially, œTextual artifacts, like mission and vision statements, are critical to the very existence of the organization[CITATION Iri151 \t  \l 1033 ]. Most well-known corporations  have these statements in place and instill them throughout the business. For example, Nike has been a giant corporation for decades and has become successful by practicing and sharing the