Mission Statement vs Vision Statement: Difference and Comparison

Key Takeaways

  1. Mission Statement: A mission statement outlines an organization’s fundamental purpose and core objectives. It focuses on what the organization does, its primary stakeholders, and how it delivers value. It serves as a guiding statement for day-to-day operations and decisions, emphasizing the present.
  2. Vision Statement: A vision statement articulates an organisation’s long-term aspirations and future goals. It describes the desired state or achievements the organization aims to reach over an extended period, often several years or even decades into the future. A vision statement inspires and motivates stakeholders by offering a compelling vision of what the organization hopes to become.
  3. While a mission statement clarifies the organization’s current purpose and activities, a vision statement provides a forward-looking, aspirational perspective of where the organization strives to be. Both statements are essential to an organization’s strategic planning and help define its identity and direction.

What is a Mission Statement?

A Mission statement defines the core purpose and goal of an organization. It will concise what the organization does and will do in the near future.

A mission statement will convey the rudimentary functions of a company, and it will also work as a blueprint for the employees to decide their daily operations to achieve the immediate goals.

Along with employees, mission statements are also for management to align them with the immediate objectives so they can utilize tools as required. They can also be shared with external stakeholders and customers in some cases.

Mission statements will include the organization’s goals and strategies. It will offer concrete facts rather than abstract ideas. It is a guiding statement that will shape an organization’s decision-making and deliver a sense of purpose for its employees.

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Which of the following is not a manufacturing industry?

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A Company is called an artificial person because _________.

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Membership in a Co-Operative Society is?

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Who is not entitled to the share of profits?

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Productivity means how much was done compared to what it took to do it.

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When at least 51% shares are in the hands of government, it is called as __________.

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Who takes no active part in Business?

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The method of evaluating the efficiency of workers is termed as _________.

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Non-economic activities aim at __________.

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A building jointly owned is called office________.

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Any company needs a mission statement for building a strategic framework. For example, if the company is in the healthcare field, then one of its mission statements can be to provide affordable healthcare services.

What is a Vision Statement?

A Vision statement is an aspirational statement. It defines a company’s long-term goals that they aspire to achieve in the coming future over 5 to 10 years.

It is a source of inspiration and a guide for an organization’s long-term strategic planning and decision-making. The statement compiles a motivating view of what the organization hopes to accomplish.

A vision statement showcases how the organization desires to be after decades down the road. All the ambitious goals and a broad perspective are included in this statement.

Both internal and external stakeholders are subjected to receive the company’s vision. To put this in an example, a vision statement of an e-commerce site may have the desire to be a place where customers can find anything they might want to buy online.

This kind of goal will motivate the employees, but there are no immediate actions to be taken or added to daily tasks. The primary action will depend on the mission statement.

Difference Between Mission Statement and Vision Statement

  1. A mission statement describes short-term goals, while a vision statement shows long-term goals.
  2. A mission statement is about the organization’s present, while a vision statement is about the organization’s future goals.
  3. Mission statements are often more practical and action-oriented, whereas vision statements are inspirational and goal-based.
  4. A mission statement will define the daily operations and be part of the management tool. On the other hand, vision statement goals are not included in day-to-day operations as they are not for the impending future.
  5. A mission statement informs the employees about the immediate goals, while a vision statement motivates the employees about the organization’s prosperity.

Comparison Between Mission Statement and Vision Statement

Parameter of ComparisonMission StatementVision Statement
PurposeThis statement is about the core purpose of the organization.A vision statement is to motivate the employees about the company’s growth.
Captured timeIt is about the present and impending future.It is about the distant future, often ranging from the next 5 to 10 years.
TangibilityIt is more concrete and action-based.It can be abstract, far-fetched and inspirational.
 InformationIt can be abstract, far-fetched, and inspirational.A vision statement is to motivate the employees about the company’s growth.
ScopeIt defines short-term goals and focuses on the primary aims of the organization.It defines long-term goals and gives a broader vision.
References
  1. https://link.springer.com/article/10.1057/palgrave.bm.2540031
  2. https://www.inderscienceonline.com/doi/abs/10.1504/IJTM.1998.002645
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