Mission: Simply, mission is why your organization exists, the purpose it serves.
Values: Values express your organization’s enduring beliefs; guide decision-making throughout the organization. What we say we care about is called espoused values. How we actually behave, in ways that (hopefully) reflect our espoused values are values-in-action. Espousing values alone is not enough. The most important work to be done with values is ensuring alignment between who we say we are (espoused values) and how we behave (values-in-action).
Vision: Your organization’s aspirational future destination or achievement. There are two types of vision. External vision is related to products or services offered, or position and impact on marketplaces. Internal vision is about how people within the organization, its employees, behave and treat each other. The hallmark of a truly compelling vision is that it creates shared directional force. That is, people across your workforce can see themselves and their role in the vision, and feel a sense of commitment to pursuing it and supporting others within the organization holding it as well.
Objectives: This is where your organization’s change agenda is defined: the four to six things that will command your organization’s prioritized attention over the next 3–5 years.
Goals: Goals must be time-bound and quantitatively measurable. They must advance your objectives.
Strategies: Strategies are significant efforts that require choicefulness and clearly advance goals. There can be more than one strategy to advance a particular goal, and as many action items as needed.