Lot of readers responded through comments, mails and phone that they would like to know more about vision and mission and the difference between two. I am putting some explanation for the benefits of readers.
Mission: A mission is a general expression of the overall purpose of the organization. It is in line with the values and expectations of major stakeholders and concerned with the scope and boundaries of the organization. It is sometimes refereed to in terms of the apparently simple, but challenging question: What business are we in?
Vision: Vision is the desired future state of the organization. It is aspiration around which a strategist (may be MD or CEO) might seek to focus the attention and energies of employees and other stakeholders and even shareholders.
Goal: It usually means a general target in line with the mission. It should be quantitative in nature.
Objective: It is more likely to be quantified, or at least more precise target, aim in line with the goal.
Strategy: It is the director and scope of an organization over the long term, which achieves advantage in a changing environment through its alignment of resources and competences with the aim of fulfilling the expectations of stakeholders
Strategic thinking is nothing but the differential thinking in the market. It should be different than others and it should be original.