Vision vs. Mission

Both vision and mission summarize company's goals and objectives.

The vision statement is the company's goal and place in the long-term. It communicates the purpose and values of the company. The vision sets the direction of the company's endeavors and inspires for further efforts. It answers the questions about the time and resources necessary to achieve the goal.

So, in other worts a vision provides framework for company long-terms strategy along with the conceptual map of how a company is going to reach a desired future state. In that sense, a vision is also a motivational driver.

Effective vision should be aligned with the company's culture and values. It should present realistic and achievable aspirations.

Example of vision (Nestlé): To be a leading, competitive, Nutrition, Health and Wellness Company delivering improved shareholder value by being a preferred corporate citizen, preferred employer, preferred supplier selling preferred products.

The mission statement describes the company's role and place in the business world. In the mission statement, the organization answers to question about its existence, purpose and responsibility.

The mission embraces the set of short-term to medium-term objectives and thus it helps in tactical planning and organize everyday operations. It helps members of the organization understand on what they should do and how they should do it.

Here, it is worth to mention that Some businesses may refine their Mission statement based on changing economic realities or unexpected responses from consumers.

Example of mission (Nestlé): Nestlé is... ...the world's leading nutrition, health and wellness company. Our mission of "Good Food, Good Life" is to provide consumers with the best tasting, most nutritious choices in a wide range of food and beverage categories and eating occasions, from morning to night.

So, in summary:

Vision summarize the company's long-term goals while mission short-term objectives. Vision is a direction, while mission is a plan.