Beyond just the ethics of the founders in these terms, I'm a big believe in the idea that the company taken as a whole, should have values and principles, and that they should be communicated widely and clearly, and - most importantly - they should actuallyreally be adhered to...
IOW, don't write a "mission and values statement" because it's expected or for marketing purposes. Write that stuff because you know what you want your firm to stand for and represent, now and over the long term.
We did this back when we first started[1], and we recently had a situation come up which tested our resolve, but knowing that we had written down what we believe, and what we are trying to be as a company made it a lot easier to make the right decision.[2] Or, at least, what we find to be the right decision for us.
Note that in our specific case, the decision in question is one that many rational, well-reasoned people could disagree with. But we believe that our principles dictate the decision we reached. We aren't saying people who may have made a different decision would necessarily be wrong.
IOW, don't write a "mission and values statement" because it's expected or for marketing purposes. Write that stuff because you know what you want your firm to stand for and represent, now and over the long term.
We did this back when we first started[1], and we recently had a situation come up which tested our resolve, but knowing that we had written down what we believe, and what we are trying to be as a company made it a lot easier to make the right decision.[2] Or, at least, what we find to be the right decision for us.
Note that in our specific case, the decision in question is one that many rational, well-reasoned people could disagree with. But we believe that our principles dictate the decision we reached. We aren't saying people who may have made a different decision would necessarily be wrong.
[1]: http://www.fogbeam.com/company.html
[2]: http://wraltechwire.com/why-a-triangle-tech-ceo-just-said-no...