A mission statement is a brief description of a company’s fundamental purpose. A mission statement answers the question, “Why do we exist?” The mission statement articulates the company’s purpose both for those in the organization and for the public.
Bylaws can be written for any type of association, partnership, profit or nonprofit companies, local city government and other groups. Bylaws can give requirements for many things including meetings, election of board members, how many board members, how the company must distribute notices, fill vacancies and what member roles include. Generally bylaws are the rules for the internal running of a company.
Policies and Procedures
Policies and procedures are a vital part of business management because they prevent each employee from having to reinvent the wheel and they provide a standard against which individual performance can be judged.
Code of Ethics
A code of ethics is a list of standards that a person or organization uses when dealing with others. When a person or organization has a strong sense of ethics, it boosts confidence and encourages further interaction.