Differences Between Mission Statement And Vision Statement

An organization’s vision and mission, no matter its size, nature, or kind of, are critical to its success in the future. It not only guides the organization and its staff members’ direction but also aids in marketing your product to clients. A mission statement summarizes the individual’s business, objectives, and strategic plan for accomplishing those goals. In contrast, a vision statement identifies the individual’s desirable future position.

Mission and vision statements guide current operations and future goals in everything from small businesses to nonprofits. Vision and mission statements must be made correctly if organizations are to have them. It is common for boards to create vision and mission statements quickly. Some people confuse a mission statement with a vision statement. The vision and mission statements must be linked to performance.

Differences Between Mission Statement And Vision Statement

There are distinct differences between an organization’s mission and vision statements. The two complement each other well. However, their structures and purposes differ. Their distinctions are as follows

Definition of Mission and Vision Statement

A mission statement is a documented assertion that explains why a company exists. It is a document that expresses the company’s values and what it strives to achieve daily, as well as its goals and current focus.

A vision statement, on the other hand, articulates the company’s future manifestation and defines what the company aspires to be. It is more forward-thinking and focused on a future that has yet to arrive but will do so. Depending on how the company’s leadership sees the future, a vision statement may change the mission statement.

Drafting

The following are examples of mission statement drafting questions:

• What should we do?
• Who are we here to serve?
• How are we going to serve them?

The following are examples of vision statement drafting questions:

• What are our hopes and dreams?
• What problem are we attempting to solve for the collective good?
• Who and what do we want to change?

Audience

Employees and customers both have mission statements. Employees and other stakeholders should be inspired by vision statements to see the value in their efforts.

Purpose

A mission statement contains more specific, attainable goals that anyone can understand. They may concern business growth, financial metrics, products, innovation, or consumer behavior.

A vision statement declares lofty goals that, while unattainable, are worth pursuing. The goal could be to improve communities, economies, or societies.

Mission Statement – Period discussed

Mission statements characterize what the organization is currently doing and what it intends to do to achieve its objectives. Many mission statements state the consecutive year in which the company plans to achieve its objectives.

Vision statements do not always have a time frame, but they always look forward. They may imply work that takes a decade or more because they cover significant, abstract goals like societal change.

In other words, a mission statement discusses the present as it leads to the future; more particularly, it discusses the immediate future. A vision statement describes the organization’s long-term goals. It analyzes the organization’s distant future.

Function

The mission statement outlines the broad objectives for which the organization was founded. Its primary function is internal; it distinguishes the key performance indicators for the organization, and its primary audience is the leadership, team, and stockholders.

The vision statement describes where you want to be in five years. It motivates you to do your best. It forms your perception of why you’re working here.

Alteration

Your mission statement may evolve, but it should always reference your core values, customer needs, and vision.

You may be inclined to alter your vision as the organization evolves. However, mission and vision statements explain the foundation of your organization, so change should be kept to a minimum.

Measurement of Effectiveness

The following elements are found in an effective mission statement:

• The mission and values of the organization
• What type of business (products or services, market) the organization wishes to enter, or who the organization’s primary “clients” are (stakeholders)
• What are the organization’s obligations to these “clients”?
• What are the primary objectives that assist the company in achieving its mission?

An effective vision statement includes the following elements:

• Absence of ambiguity and clarity
• Create a clear and vivid picture.
• describing a bright future (hope)
• Memorable and engaging expression
• Realistic and attainable goals
• Adherence to organizational values and culture
• It is time-bound if it mentions achieving any goal or objective.

Example

American Express

• Mission Statement: “Become essential to our customers by providing differentiated products and services to help them achieve their aspirations.”
• Vision Statement: “Provide the world’s best customer experience daily.”

Coca-Cola

• Mission Statement: “To refresh the world, To inspire moments of optimism and happiness, To create value, and make a difference.”
• Vision Statement: “Our vision is to craft the brands and choice of drinks people love, to refresh them in body & spirit. And done in ways that create a more sustainable business and better-shared future that makes a difference in people’s lives, communities, and our planet.”

Walt Disney Group

• Mission Statement: “To be one of the world’s leading producers and providers of entertainment and information.”
• Vision Statement: “to entertain, inform and inspire people around the globe through the power of unparalleled storytelling, reflecting the iconic brands, creative minds, and innovative technologies that make ours the world’s premier entertainment company.”

Are Mission Statements And Vision Statements Related?

The vision is what you hope to achieve. A mission statement is a broad statement that describes how you plan to achieve your vision. Strategies are actions used to achieve the vision by utilizing the mission. Goals are statements of what must be accomplished to implement the strategy.

The mission statement guides what is currently going on and can help you get to where you want to go (the vision statement). They work together to achieve the common goal of making your company successful. They are, however, divided into two time periods: the present and the future.

The vision and mission are interconnected. The mission statement is a continuous activity of how the vision will be realized, whereas the vision statement is a deterministic impression of what you want to achieve. Keep the following ideas in mind when creating effective statements.

Bottom Line

According to the organization, both statements are critical to the organization’s sustainability and success. The Vision and Mission Statement are intimately connected. The company creates the mission with the vision in mind. As a result, the vision is the effect, and the mission is the consequence. The Mission Statement is descriptive, whereas the Vision Statement is predictive. Both statements should be evident, comprehensive, and accurate, as the future of the business is at stake. The Vision Statement is meant to encourage and empower others. The Mission Statement, on the contrary, is meant to teach. The Vision Statement illustrates the organization’s ultimate goals, whereas the Mission Statement describes the principal objective of the business.

References

1. Mission Statement vs Vision Statement – Difference and Comparison | Diffen. (2021). Mission Statement Vs Vision Statement – Difference and Comparison.
2. Atlassian. (2020). Mission vs Vision Statements | The Workstream. Atlassian.
3. Skrabanek, B. (2022, July 6). Difference Between Vision & Mission Statements: 25 Examples. ClearVoice Blog.
4. Surbhi S. (2015, March 16). Difference Between Mission Statement and Vision Statement (with Examples and Comparison Chart) – Key Differences. Key Differences.
5. Barr, E. (2020, February 4). The Difference Between Mission and Vision Statements • SpriggHR.
6. MasterClass. (2021, December 14). Vision vs. Mission Statement: What’s the Difference?
7. Rogers. (2022, June 6). Mission vs. Vision Statement: What’s the Difference? The Big Difference Between Mission and Vision Statements.
8. Eisenstein, L. (2021, July 21). What Is the Difference Between Mission and Vision Statements?
9. Taylor. (2022, May 18). Mission vs. Vision: What’s the Difference? The Motley Fool.
10. American Express. (2022). American Express. Vision and Mission.
11. Williams, A. (2017, December 13). Walt Disney’s Mission Statement & Vision Statement (An Analysis) – Panmore Institute.
12. Hofstrand. (2019). Vision and Mission Statements — a Roadmap of Where You Want to Go and How to Get There | Ag Decision Maker. Vision and Mission Statements.