A company's mission, vision and values ​​play a vital role in strategy formulation and strategic planning. During this assignment we will discuss how developing an effective mission, vision, and values ​​can help shape, develop, and guide a company's strategic choices. They reflect the company's core ideology. At the most basic level, a mission statement can describe the company's overall purpose. It provides an overview of the current business scope and purpose of the company, i.e. “who we are, what we do and why we are here”. This explains the company's very reason for existence. It will generally define the scope of the enterprise, the ends it wants to achieve and the means to do so (its competitive advantage), which usually includes three dimensions, its customers/offerings, geographic locations and vertical integration, its concerns for employees and other interested parties. These should be clearly defined to guide management and employees in their daily decision making. Therefore, as Porter states, any strategic statement must begin with a definition of the purposes that this strategy is designed to achieve. “If you don't know where you're going, any road will take you there.” A company's mission, vision and values ​​tell how the company is unique. How it distinguishes itself from its rivals and therefore how it can offer value to its customer base and therefore set the "tone" of the company As Michael Porter states, he defines the "Strategy that outlines a territory in which a company seeks to be unique" . It should therefore be specific enough to distinguish the company and give itself its own identity. To assist us in our critical evaluation of the importance of a company's mission, vision, and values ​​in its... middle of paper.... ..and help local communities where Ben and Jerry's waives the franchise fee . Part of its vision is to eliminate negative impacts on the environment and be a force for sustainable environmental change. Finally, they intend to show generosity towards the communities in which they operate, showing respect for the individual both internally and externally and through numerous philanthropic activities, such as through the Ben and Jerry Foundation. It was the first company to have a double "Double dip" result focused on financial and social criteria. Just as part of their vision and values, instead of just focusing on profits and product quality, they have added as one of their core values ​​the social impact their business can have and how it can be a force for change progressive and positive. They therefore base their vision and core values ​​on the principle of "Doing well by doing good".".