Companies create mission and vision statements to offer direction and values.
Organizations create mission and vision statements to convey the direction the companies are going. Both statements help communicate the intentions the companies have and the goals for the future. Each statement is created for a separate reason and each holds a different meaning.
Mission Statements
A mission statement is designed to describe an organization's overall purpose including defining the organization's key measures of success. Mission statements have internal aim and are designed primarily for leadership teams and stockholders. When organizations create mission statements, they often consider the company's products and services offered, as well as the company's image, values and priorities. When created, the company focuses on how the organization currently is operating and does not project into the future.
Vision Statement
A vision statement is created to explain the organization's key values and does not refer to bottom line figures. It tells how this particular company believes things should be done and it gives direction to employees and customers. It also tells how an organization completes its operations and where the organization is heading.
Differences
One key difference with mission and vision statements is the time frame each focuses on. A mission statement primarily talks about what the company is currently doing. It focuses on the present while a vision statement is a projection of where the company is going by focusing on the future. These statements are designed to work together. If a company follows its mission statement, then the vision statement will be what the company has to look forward to in the future. Vision statements are generally created before mission statements are created because a vision statement will direct the company how it must operate today to get to where it wants to be.
Features
Effective mission statements should contain the values and purpose of the organization, its primary stakeholders and its responsibilities to these stakeholders. They are often created by determining what the company does today, who it does it for and the benefits of it. Effective vision statements should lack ambiguity, paint a vivid picture, describe a bright future and offer realistic ambitions. When vision statements are created, companies look at what they want in the future, when they want it and accomplish it.
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