ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -A vision statement looks forward and creates a mental image of the ideal state that the organization wishes to achieve. It is inspirational and aspirational and should challenge employees.

Detailed explanation-2: -The vision statement provides insight into what the company hopes to achieve or become in the future. The values statement reflects the organization’s core principles and ethics. Together, these statements provide strategic direction for an organization, informing current and future business strategies.

Detailed explanation-3: -Company values (also called corporate values or core values) are the set of guiding principles and fundamental beliefs that help a group of people function together as a team and work toward a common business goal. These values are often related to business relationships, customer relationships, and company growth.

Detailed explanation-4: -It’s comprised of three parts: what you do, how you do it, and why you do it. A vision statement outlines the company’s long-term goals and aspirations for the future in terms of its long-term growth and impact on the world.