A Company Philosophy is a core value or a set of values that a company considers important in the conduct of its business. These values are the non-negotiables of the business. A company philosophy sets the highest ethical and quality standards in its operations because it believes that its philosophy would set it apart among peers in the industry. It is also a distinction or a certain mark of excellence in its service and its products because a company believes that it is the only way to go. An example of company philosophy is that of the Skandia of UK: Innovation, partnership and commitment to service – three hallmarks of the way we approach business.
A Company Image is the public perception of a company. It may be positive or negative, maybe accurate or not but it is essentially what hits the mind of the public at the mere mention of the company. A company image is either seen or felt. The “seen” image is what the public sees in the company, like, its logo, buildings, and commercial ads. The “felt” image is an experience of service or use of its products. It may either be an excellent or poor service or a quality or a sub-standard product. To a certain extent company image can be controlled. To have a positive image, for example, a company must conform to the highest standards asked of a service and a product.
A company must address both its philosophy and image in its Mission Statement. By its Mission Statement, a company shows its public what it had set to do to achieve its Vision. There must be an internal and built-in system that would incorporate into its processes its Philosophy and Image. Putting its Philosophy into its Mission Statement is about working to attain that which the company had set to do, in the manner it had planned to take and with the objective that it had aspired to achieve. The Company Image embedded into the Mission Statement is exerting its best efforts to exceed its public’s expectations thereby earning their trust, confidence and satisfaction.