Purposes and Values The leading section of the code typically provides an abbreviated mission statement followed by values. This section states what the company is all about, what it does, why it exists. Ideally the code will state practical financial objectives as well as less precise social and professional aspirations. The statement of values, similarly, will begin with narrowly defined statements and expand on these. Obeying all pertinent laws and regulations may be the initial value; adherence to higher ethical values will be spelled out next. Corporations engaged in some professional specialty (engineering, medicine, law, etc.) may explicitly refer to professional standards and standard-setting bodies.

Understanding Business
12th Edition
ISBN:9781259929434
Author:William Nickels
Publisher:William Nickels
Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment
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Purposes and Values
The leading section of the code typically provides an
abbreviated mission statement followed by values. This section
states what the company is all about, what it does, why it exists.
Ideally the code will state practical financial objectives as well as
less precise social and professional aspirations. The statement of
values, similarly, will begin with narrowly defined statements
and expand on these. Obeying all pertinent laws and regulations
may be the initial value; adherence to higher ethical values will
be spelled out next. Corporations engaged in some professional
specialty (engineering, medicine, law, etc.) may explicitly refer to
professional standards and standard-setting bodies.
Transcribed Image Text:Purposes and Values The leading section of the code typically provides an abbreviated mission statement followed by values. This section states what the company is all about, what it does, why it exists. Ideally the code will state practical financial objectives as well as less precise social and professional aspirations. The statement of values, similarly, will begin with narrowly defined statements and expand on these. Obeying all pertinent laws and regulations may be the initial value; adherence to higher ethical values will be spelled out next. Corporations engaged in some professional specialty (engineering, medicine, law, etc.) may explicitly refer to professional standards and standard-setting bodies.
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