Mission statements typically have the following five components:
Provides the company's basic rationale for existence, and manner and spirit in which products and services are offered.
PRINCIPLES AND BUSINESS AIMS
Which link specific, forward looking operation-level goals to the mission statement
Which determines how the company is recognised by customers, employees and the world at large.
POLICIES OF THE COMPANY
Which shape the philosophy and management style of the company, its decision making structure and the nature of the management-shareholders relationship.
Company values are a broad set of moral norms or standards that the company employs in running
SO, WHAT ARE "VALUES"? "Value" is very important because it shapes the company's values in several key areas.
- How the company values its customers.
- How the company competes fairly, without compromising product excellence.
- How the company promotes a positive working environment in which employees and management share common work values.
- How the company conforms to the dictates of regulatory agencies; and
- How the company relates to its community and sense of social responsibility.