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No, not every company needs all three. A company might only need a mission statement and code of ethics.

A company mission statement helps to clarify the goals and purpose of an organization. This can help employees understand what they are working towards, and it can also help customers know what to expect from the company. A well-written mission statement also sets expectations for how the company will behave in relation to its customers and stakeholders.

Some factors to consider when developing a company philosophy include: -What Drives the Company: What motivates the team members? What does success look like to them? -Values & Beliefs : Are these explicit in words or just implicit in culture? Do team members share similar values and attitudes? If not, why? -Mission & Objectives : What do we want to achieve as a company and what are our primary objectives? Can those objectives be linked to specific values or beliefs? -The Team & Organization Structure: How diverse is the team (in terms of experience,

A good philosophy should both be included in your mission statement and slogan. Focusing on details makes the philosophy non-memorable, whereas managing by slogan is superficial but does lead to accountability and change.

A mission statement is a general overview of what your business does, while ethics is specific to the practices of your particular profession or industry. For example, a hospital's mission statement might be "to provide compassionate care to patients," but its ethics code could spell out specific rules about doctor-patient interactions and disclosure of medical information.