What do we call a clear and concise statement that outlines a company's primary purpose?

A mission statement is a clear and concise declaration that outlines a company's primary purpose, defining its reason for existence and the value it aims to deliver to its stakeholders. It typically encompasses the core objectives and principles that guide the organization's operations, serving as a foundation for decision-making and strategic planning.

In contrast, a vision statement focuses on the long-term aspirations and desired future state of the organization, articulating where the company wants to be in the future. A goal statement outlines specific, measurable objectives that the organization aims to achieve, often reflecting intermediate steps toward broader mission goals. A value proposition describes the unique value and benefits that a company offers its customers, emphasizing what sets it apart from competitors. Each of these elements serves a distinct role within an organization, but the mission statement specifically defines its fundamental purpose.