Difference Between Mission Statement and Vision Statement

Introduction

Regardless of a company's size, sector, or category, its vision and goal are crucial determinants of its future success. They serve as a strong marketing tool to establish the brand with consumers in addition to providing direction to the company and its personnel.

The company's goals, methods, and purpose are all outlined in the mission statement. On the other hand, the company's ideal future condition is portrayed in the vision statement. A vision statement goes beyond a mission statement, which sums up the essence of the business. It inspires and lays the foundation for the strategic direction of the business. It's critical to understand the differences between a mission and vision statement while having strategic conversations.

Mission Statement Definition

The company's mission statement is a vital document that justifies its existence and outlines its organizational goals.

The mission statement, in contrast to the vision statement, addresses every facet of the business, including the staff, clients, goods and services, technology, quality, competitive positioning, and survival. It ought to address the issues of what the business does, why it does it, how it does it, and for whom.

The mission statement serves as a concise and thorough representation of the organization to the outside world and embodies the core values of the enterprise. Making a lasting impact on all parties involved shareholders, investors, suppliers, clients, creditors, staff members, rival businesses, and partners'is its goal.

Vision Statement Definition

The Vision Statement explains the company's long-term aims and outlines its future goals and values, which remain constant over time.

The statement needs to be clear, concrete, concise, complete, correct, and courteous. According to a proverb, "A man without eyes is blind, but a man without vision is dead." It emphasizes how crucial having a vision is to a business's existence.

A vision statement helps the company establish specific objectives, guiding the entire organization toward achieving them within a set timeframe. It is primarily crafted for employees to grasp the company's true purpose and work toward fulfilling it. The company's planning and strategies are aligned with this vision.

Important Distinctions Between Vision Statement and Mission Statement

Here are the key distinctions between a mission statement and a vision statement.

• The vision statement outlines where the company aims to be in the future, while the mission statement focuses on the company's business, purpose, and how it plans to achieve its goals.
  
• The vision statement typically remains constant as long as the company exists, whereas the mission statement may be subject to change based on the company's needs.
• The vision statement is designed to inspire, while the mission statement is intended to provide information.
• The vision statement reflects the company's future goals and aspirations, while the mission statement clarifies the company's fundamental purpose.
• Generally, the vision statement is shorter in length compared to the mission statement.

Vision Statement Example

• Facebook
  Facebook is a social media platform that lets users communicate with friends and family, express themselves, and keep up with current affairs.
• Google
  Google aims to give people easy access to a wealth of information from around the world with just one click.

Mission Statement Example

• Facebook
  Facebook's mission is to empower individuals to share and create a more open and connected world.
• Google
  Google aims to structure the world's data and ensure it is accessible and beneficial to everyone.

Mission Statement vs Vision Statement

Conclusion

The company's existence and expansion depend on its Vision and Mission Statements. The vision is considered while the firm formulates its mission statement. The mission provides the motivation, while the vision shows the intended result. While the Vision Statement looks forward, the Mission Statement serves as a guide. The accuracy, completeness, and clarity of both claims are critical since they will determine the company's destiny.