'Vision' versus 'mission'?
For most large organisations the idea of a ‘mission’ and a ‘vision’ are inextricably linked, with the ‘mission’ describing the ‘core’ of the centre of a company, while the ‘vision’ shows where it is going – its strategic targets.
This is described by Johnson et al. (2017) as
‘The business venture’s strategic vision concerning its future path…’
A vision statement is an aspirational description of what an organisation would like to achieve or accomplish in the mid-term or long-term future. It is intended to serve as a clear guide for choosing current and future courses of action.
This must provide a credible answer for ‘where are we going?’ It must provide direction that does not conflict with the mission. The vision statement should focus the energy of the company towards its stated goals.
The mission statement for a company defines its ‘reason for existing’
what do we do?
how do we do it?
whom do we do it for?
what value are we bringing?
As an entrepreneur, your idea of ‘vision’ probably exists before you have a real ‘mission’.
The mission statement should also have longevity – the mission of a company must be consistent with all the changing priorities and targets.
You may also be interested in reading these articles:
Mission statement vs vision statement, which is available on the Diffen website.
Difference between vision and mission statements: 25 examples, which highlights 25 examples and is available from the ClearVoice website.
Watch the video at Why company vision and mission statements matter, which is available on the Marketing Blender website. They also provide the following definitions:
Vision statement definition: ‘This is the DREAMING piece. If everything goes right, this is how your organization will have changed the world.
Mission statement definition: ‘This is the DOING piece. This states who you serve, what you serve them, and how you do it every single day.
Do you agree with the statements made ?
Johnson, G., Whittington, R., Regnér, P., Scholes, K., and Angwin, D. (2017) Exploring Strategy: Text and Cases. 11th edn. Harlow: Pearson Education Limited.
The Marketing Blender (2017) Best Examples of Company Vision and Mission Statements [online] available from https://www.themarketingblender.com/vision-mission-statements/ [3 May 2018]
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