Vision: Our vision is to be the preferred world leader in chemicals." Mission: "Our mission is to responsibly provide quality products and services through innovation, learning and operational excellence while sustaining maximum value for our stakeholders." Goal of the Firm: 'We aim to improve efficiencies in our core areas of manufacturing, commercial, supply chain and cost management. We strive for competitive advantage selectively through process, catalyst and application development" What are vision statements? What could be a good rallying point for a company so that its employees could do well and lead to good organizational performance? Aside from employees' earnings, a clear and shared vision about the company and themselves have been found to be a good motivator. A vision statement simply answers the fundamental question "What do we want to become?" or "Where do we want to be?". Experts provide the following recommendations when coming-up with your vision statements: Must be established first and foremost Should be short (preferably one sentence) As many key personnel must have been involved in crafting it Must be written from a customer perspective Should reveal the type of business the firm engages but it needs to do more than identify firm's products What are mission statements? Mission statements should answer the basic question "What is our business"? These are also referred to as a "creed statement, a statement of purpose, a statement of philosophy, a statement of beliefs, a statement of business principles or a statement defining our business" (David & David, 2017). s characteristics of a good mission statement have been put forward by experts: Should allow generation and consideration for alternative objectives and strategies while maintaining management creativity Should provide a common ground and understanding for all its stakeholders. Not too lengthy! Inspiring Identifies the utility of a firm's products Reveals the firm's social responsibility Reveals that the firm is environmentally responsible Enduring Should cover the 9 components: customers, products, markets, technology. concern for survival/growth/profits, philosophy, self-concept, concern for public image, concern for employees