Scenario Suppose you have been hired by a small group of partners who are in the
Scenario 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 biomedical 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. Instructions Based on the scenario above, develop a white paper on the importance of mission and vision statements and a code of ethics. Use the Week 4 Assignment Template [DOCX] to develop your white paper with the following sections. 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. Your white paper should be 3–5 pages in length, well organized, and written in clear, succinct language. Follow current 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 on 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 on your references page. Refer to the scoring guide to ensure that your work meets the grading criteria for this assignment. Example assignment: You may use the Week 4 Assignment Example [PDF] to give you an idea of what a Proficient or higher rating on the scoring guide would look like. Additional Requirements Your assignment should also meet the following requirements: Written communication: Communication should be clear and well organized, and support a central idea, with no technical writing errors, as expected of a business professional. References: References and citations are formatted in consistent style, with a preference for using current APA style and formatting. Number of resources: Use a minimum of three scholarly resources related to the content of the assignment. Length of paper: 3–5 typed, double-spaced pages, in addition to the title and references pages. Font and font size: Times New Roman, 12 point.

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