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Mission Statement: A written declaration of organization’s core purpose and focus that normally remains unchanged over a period of time. A good mission statement serves as filters (1) to separate what is important from what is not (2)clearly indicates which markets will be served and how and (c) communicate a sense of direction to the entire organization
Vision Statement: An aspirational description of what an organization would like to achieve in the mid-term or long–term future. It is intended to serve as a guide for current and future courses of action/projects
Mission Statement and Vision statement relates to the organization whereas Core values relates to the employees of the organization.
Core values are attitudes and convictions that should be held in the hearts of all employees of the organization. These attitudes/convictions will manifest as behaviors. Standard core values could be: Integrity, Commitment, Diversity, Teamwork, and Drive for result etc. Each organization defines its own set of core values.
Now, it is clear that all three: Mission Statement, Vision Statement and Core Values are extremely important to all employees of the organization
All the three are equally important as they are related each other fo any Organization but rather on that queue the core values would be the first item.
Vision and mission indicate strategic direction of an organization so, an organization need a direction and also better to have core values for being smart in its environment
