A vision statement is a written expression of an organisation’s long-term ambitions that it hopes to realise in the future. It is often an optimistic view of what the organisation hopes to accomplish.
A mission statement is a written expression of an organisation’s purpose and reason for being. The mission may be seen as a means of accomplishing the organisation’s vision.
Many companies have a brief mission statement, usually in 30 words or fewer, explaining their reason for being and their guiding principles. Careful not to confuse mission statement as goals or objectives. A mission statement is a philosophy that answers the question “why do we exist”. It describes the fundamental purpose of the business. Almost all institutions have a mission statement.
A vision statement describes the organisation as it would appear in a future successful state. It differs from a mission statement in that the mission statement refers to the present while the vision statement usually refers to future. The vision statement lures all employees into a belief about what the business wants to achieve.
Both the mission and vision statements are at times impossible dreams that serve the purpose of providing a guiding light as to the philosophy of the organization and thereby motivate and unify the employees of a business as well as inform the public of its purpose.