| A vision statement tells that where the organization sees itself few years down the line.
A vision may include setting a role mode, or bringing some internal transformation, or may be promising to meet some other deadlines.
Mission – explain the reason of organizational existence. It identifies the position in the community. The reason of developing a mission statement is to motivate, inspire, and inform the employees regarding the organization. The mission statement tells about the identity that how the organization would like to be viewed by the customers, employees, and all other stakeholders.
Values – is the translation of vision and mission into communicable ideals. It reflects the deeply held values of the organization and is independent of current industry environment. For example, values may include social responsibility, excellent customer service, etc.