How to Write a Philosophy Statement for Business Students

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A business philosophy statement defines the core values of a business entity or organization and indicates its purpose for existing, including its methods and modes of operation. Writing a philosophy statement is an exercise that business students are often asked to do in the course of their business studies. Writing a business philosophy statement can be challenging, but with careful planning you can write a statement that clearly defines you or your business.

  • Read other business philosophy statements for inspiration. You can visit the corporate websites of many companies in order to read their business philosophy statements. Be careful not to copy or plagiarize these statements. There are certain elements from the business philosophy statement such as the business' core values that can give you a guideline for developing your own business philosophy.

  • Indicate the aim of your business. Your business exists for a reason. You should incorporate this reason into your business philosophy statement. This statement, more than any other, defines your business and its practices. Everything your business does will revolve around its purpose. Be sure to be as specific as possible so that your statement is clear to any reader. Your philosophy statement should make clear how you can be of benefit to the readers.

  • Clarify your ethical views. Business philosophy and business ethics are closely related. Your business philosophy statement should indicate any ethical positions you take that affect your business or your dealings with others. You do not have to take a position on larger moral issues per se, but rather indicate that how you conduct your business stems from a certain ethical position to which you may adhere. It is probably best to avoid controversial moral issues unless you are operating a business or organization that is somehow tied a particular religious or charitable organization.

  • Define your goals. A business philosophy statement not only indicates who you are as a business entity, but also where you are heading. You should incorporate your business vision into your philosophy statement because it too gives the reader a sense of what your business is all about. People tend to do business with people and organizations to which they easily can relate.

  • Describe your strengths and weaknesses as a business. Indicating your strengths will give the reader a sense of your place within the business community. If you are the top sales organization for a particular product or within a particular industry, be sure to let people know. Many people like to do business with a known leader. If there are weaknesses your business needs to address, being open and honest about it might be seen in a positive light and your honesty may be construed as a breath of fresh air.

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