Mission and vision statements form part of the organizations strategic business plan. It is important for any organization to develop a vision, mission and values as it determines the strategic direction and the organizational strategic processes and enhances the chances of success. Vision and mission statements describe and communicate the organization’s purpose and intention to internal and external stakeholders. Entrepreneur’s need to recognize that by identifying and understanding the interaction between values, mission and vision an organization can successfully identify, design and implement a successful strategic business plan that enhances the chances of achieving a sustainable competitive advantage.