David J. Collis, Michael G. Rukstad

A Hierarchy of Company Statements
Organizational direction comes in several forms. The mission statement is your loftiest guiding light—and your least specific. As you work your way down the hierarchy, the statements become more concrete, practical, and ultimately unique. No other company will have the same strategy statement, which defines your competitive advantage, or balanced scorecard, which tracks how you implement your particular strategy.

MISSION Why we exist VALUES What we believe in and how we will behave VISION What we want to be STRATEGY ————————— What our competitive game plan will be BALANCED SCORECARD How we will monitor and implement that plan

| The BASIC | ELEMENTS | of a Strategy | Statement | | OBJECTIVE = Ends | | SCOPE = Domain | | ADVANTAGE = Means