The statement of a company’s philosophy often called the company creed, usually ac-companies or appears within the mission statement. It reflects or specifies the basic beliefs, values, aspirations, and philosophical priorities to which strategic decision makers are committed in managing the company. Fortunately, the philosophies vary little from one firm to another. Owners and managers implicitly accept a general, unwritten, yet pervasive code of behavior that governs business actions and permits them to be largely selfregulated. Unfortunately, statements of company philosophy are often so similar and so platitudinous that they read more like public relations handouts than the commitment to values they are meant to be.
Definition