In today’s competitive and fast-paced world, almost every business and organizational structure pins down two important tools in their organization mandate. These two important tools and concepts are vision and mission. Both these words sound quite similar, however, there is an obvious difference between them. So, in this article, we will understand the complete difference between vision and mission statement with the help of the following set of concepts.
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Definition Of Vision Statement
A vision statement refers to a declarative statement that describes the company’s long-term plans and desired future position. These statements specify the company’s future initiatives, actions, and values. In more simple words, the vision actually signifies how an organization will look in the future. All set of actions and functions in a business depends on a vision and so therefore it is an important beginning point as it provides the right direction for achieving the business goals.
The vision statement needs to be clear, correct, concise, and specific. If a firm does not come up with such kind of vision, it won’t be able to achieve its mission. The main objective of the vision statement is to let the employees and other stakeholders understand the aim and intentions of a company. Moreover, they help in creating brand awareness and enhancing the public relations of a company.
Definition Of Mission Statement
A mission statement refers to a statement that reveals and signifies the purpose of the existence of the company. These statements help to narrate a company’s objectives and the activities to be done for achieving those goals and objectives. The mission statement aims at revealing the measures taken for organizational activities in the present.
Moreover, mission statements indicate every aspect of an organization such as goods, services, technology, employees, stability in the market, quality and quantity, etc. The mission statement focuses on answering questions like:
- What do we do?
- How do we do?
- Why do we do?
- Whom do we serve?
The mission statement is generally developed by creditors, suppliers, partners, shareholders, etc. An organization would not be able to survive and achieve its objectives until and unless it uses a mission statement at the right time and at the right place. In a nutshell, such kinds of statements represent a firm in front of the world and provide precision to the organizational goals and intentions.
Difference Between Vision And Mission Statement(Table)
|Basis For Difference||Vision Statement||Mission Statement|
|Definition||It refers to a statement that showcases an organization’s aspiration for a future position.||It refers to a statement that defines the company’s goals/objectives and the activities pursued to achieve them.|
|Purpose||To inspire the people to contribute towards achieving the objectives.||To inform and to provide a road map for achieving the goal.|
|Scope||It is a broader concept.||It has a comparatively narrow scope.|
Key Differences Between Vision And Mission Statement
The key differences between vision and mission statement are as follows.
- A vision statement refers to a declarative statement that describes the company’s long-term plans and desired future position. On the other hand, A mission statement refers to a statement that reveals and signifies the purpose of the existence of the company.
- While the vision promotes motivation and inspires the stakeholders to contribute towards achieving the goals. On the other hand, the mission statement is made to provide a guide and a road map to keep the focus on achieving the goal.
- Vision remains the same and it does not change because it is the company’s final objective. On the other hand, the mission statement may change depending on the changing situation.
- Since vision is the final goal of a firm so it has a long timeline. The mission, on the other hand, has a shorter timeline.
Vision Statement Examples:
- People use Facebook in order to stay connected with family and friends discover the ongoing actions in the world, and express the things that matter to them.
- Similarly, Google’s vision is to provide access to the world’s information with just one click.
Mission Statement Examples
- Facebook is focusing on providing authority to the users to share and make the world more clear and connected.
- Google aims at organizing the world’s information and making it universally useful and accessible for users.
So, with the above discussions, we can finally conclude that for the better growth and development of any organization or business entity, both vision and mission statements are important. They are the building blocks of organizational culture. Both vision and mission statements let people know what they should achieve and why. So, therefore, both statements need to be clear, correct, and complete as the future of the business depends on these two modules.