QS Study

Strategic visions are the ideas for the direction and activities of business development. Generally included in a document or statement so all company managers can share the same vision for the company and make decisions according to the shared principals and company mission. Your mission statement serves as a guide for day-to-day operations and as the foundation for strategic planning and future decision making.

There are some differences between a vision and a Mission Statement. These are as follows –

Vision Statement

Vision refers to the category of intentions that are broad, all-inclusive and forward-thinking. A vision describes an aspiration for the future, without specifying the means that will be used to achieve those desired ends.

  1. The chief concern of a strategic vision is with “where we are going”.
  2. A vision statement portrays a company’s future business scope.
  3. Vision statement spells out the long-term business purpose and molds organizational identity.
  4. The scope of strategic vision is wider that of a strategic mission.
  5. Most of the strategic vision statements are not in written form.

Mission statement

  1. A company’s mission statement is typically focused on its present business scope – “who we are and what we do”.
  2. The main concern of a strategic mission statement is with “who we are and what we do”.
  3. A mission statement describes a company’s present business scope.
  4. The mission statement stresses what the company’s present products and services are, what type customers it serves, what technologies and business capabilities it has.
  5. The scope of the strategic mission is narrower than that of strategic vision.
  6. Most of the strategic mission statements are in written form.