It is a statement that outlines the future aspirations and goals of a company. It paints a picture of what the organization wants to achieve and become in the long term. On the other hand, a mission statement defines the purpose and reason for the company's existence. It answers the question of why the company does what it does and what it aims to accomplish in the present. Lastly, values are the guiding principles and beliefs that shape the company's culture and how it conducts business. While all these elements are important for a company, they do not fully capture its true purpose.