Vision and mission are two terminologies commonly used in business organizations, non-profit and government entities. A good vision and mission statement’s main features are clarity, stability and conciseness. Vision is a very aspirational description of what a company would like to achieve. The major difference between them is that the vision describes the prospects/aspirations/goals of a particular organization, and mission is the entity that defines an organization’s purpose. Thus, a vision statement defines what the company is aiming to accomplish, and a mission statement describes what is being pursued to accomplish that vision.
Vision and Mission Statement
Vision Statement
The statement which defines the long-term plans for the future is known as the vision statement. It also specifies the future goals and the values of the company. One major thing about a vision statement is that it stays the same with time. It also must have clarity, conciseness and concreteness. It is the statement which implies that a company that does not have a vision will not survive for a more extended period.
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It is helpful for the company to set out specific objectives. The entire organization works to meet all the goals in a stipulated period. It is the statement that has been developed for all the employees so that they understand the company’s main aim and strive to achieve it. All the strategies are also being planned out in a similar direction by the company.
Mission Statement
A mission statement is the organizational goals which are meant to be accomplished by the company. Unlike the vision statement, a mission statement reflects every aspect of the company, such as employees, products, services, technology, position in the market and customers. It is essential to draft the mission statement in such a way that it answers all the questions such as: What does the company do? How does it do it?
A mission statement is the core purpose of the business and it also represents the company in front of the world. It puts the company on a global pedestal. The statement is developed for the shareholders, customers, suppliers, competitors and partners of the company. The mission statement remains unchanged over time. However, the company has the right to change its mission statement. A good mission statement is the one which defines the direction of the entire organization.
Differences Between Vision and Mission
Following are the 5 major differences between vision and mission:
- The vision statement dictates the desired position of the organization in future. On the other hand, the mission statement talks about the company’s business and purpose.
- Vision statement is likely to remain the same till the company survives. The mission statement may change if required.
- A mission statement is made to inform and a vision statement is made to inspire.
- The vision statement shows the future aspirations of the company and the mission statement also explains the core purpose of the company.
- The vision statement is shorter than the mission statement.
Conclusion
Both are essential for the growth and survival, and ultimately they are two peas in a pod.
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