A written general policy of the company includes statements on company goals , central values, areas of activity and concrete objectives of the company. Nowadays 90% of all companies have a general policy (Müller-Stewens & Lechner 2005). Therefore, it may be the case that the formation of a general policy is one of the most popular management concepts today.

A vision is the guiding principle of your company. The term mission can often replace the term vision, which will lower your possibilities for differentiation. I.e. a mission is not future-orientated.