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Mission, vision, values, and positioning statements are the most widely recognized strategic tools used to define a company’s business, strategic objectives, and overall approach to reach those objectives. Another less frequently recognized strategic statement that many companies neglect to employ is the Purpose statement.
A company’s identity extends beyond its visual representation, known as corporate identity, which contributes to brand recognition but represents only a fraction of the overall brand. The true essence of a brand lies in its intangible qualities.
The Vision, Mission, and Values statements guide the behaviors of people in an organization. The Vision statement describes where the organization wants to be in the future; the Mission statement describes what the organization needs to do now to achieve the Vision.