The correct answers are: Strategy - the commercial logic for the company, defining the nature of the firm's business; Values - a description of the pervading culture and the assumptions and beliefs regarded as important by those managing the organisation; Policies and standards of behaviour.

The mission states the aims of the organisation. The strategy outlines what the organisation should be doing; the values and the policies set limits to the ways the strategy may be converted into performance. Customer satisfaction and profitability are both objectives and relate to the critical success factors for business success.