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Critically evaluate the mission, vision and values of a business which you are acquainted with and propose alternative formulations of same The Mission, Vision and Values of a firm play a Fundamental part in Strategy Formulation and Strategic planning. We'll discuss during this assignment, how developing effective mission, vision and values will help form, develop and guide a companies Strategic choices. They reflect the firm's basic core ideology. In the most basic level a mission statement may explain the firms overall goal for being. It offers an inside to the present business scope and aim of this firm that is "who we are, what we do, and the reason we are here". It explains the company's very reason for existing. It will normally define the reach of the firm, the ends to which it needs to achieve and the means of doing so (its competitive advantage), which usually encompasses three dimensions, its own customers/offering, geographical places and vertical integration, and its own concerns for workers and other stakeholders. These must be clearly defined so as to direct management and employees in day to day decision making. Thus as Porter says that any tactical announcement must begin with a definition of those ends this strategy is intended to reach, "In case you don't understand where you are going, any road will take you there". The mission, vision statements and worth of a company say the way the company is Unique. The way that it set's itself apart from its rivals and thus how it can offer value to its customer base and therefore sets the "tone" of their firm. As Michael Porter says it lays the " Strategy that delineates a land in which a firm seeks to be unique". It should thus be specific enough to distinguish the organization and give.