Vision and mission statements are of utmost importance when it comes to working towards the success and growth of a business. However, most of the time, businesses are often confused with these two terms. Business owners need to understand the difference between the two as both of them are distinct concepts with different purposes.
In this article, we will talk about what vision and mission statements are and the difference between the two. We will also give you some examples of vision and mission statements to give you a better idea of how to develop the best statements for your business.
Mission Statement
A mission statement talks about organisational goals that need to be reached or accomplished. It reflects things like services or products, employees, customers, quality, position, and survival. It reflects the main purpose of any business.
Mission statements help to showcase your company to the world. When creating a mission statement for your organisation, you must ensure that your message is complete and clear. The statement should remain in people’s minds.
These statements are mostly developed for investors, customers, shareholders, employees, partners, creditors, and competitors. It must be drafted in a way that it answers the following questions:
- What do we do?
- Why do we do it?
- Whom do we serve?
- How do we serve?
The mission statement must drive your company. It talks about what your organisation does and what it does to reach those goals and objectives. Just by definition, one can see how a powerful mission statement motivates the team to perform and work towards the goal.
Vision Statement
A powerful and clear vision statement helps to give your organisation direction. It talks about the future of your business and where you see the company some years down the line. Vision statements are all about aspiration and what you want to achieve in the next five or ten years. It helps to promote growth – externally and internally.
It puts focus on things that matter the most for your organisation. Furthermore, it also encourages the development of innovation and ideas. Just like mission statements, you must ensure that your vision statement is concrete, complete, clear, and correct. A vision statement answers questions like:
- What are our dreams and hopes for the organisation?
- What problem are we solving?
- What are we looking to change?
An organisation that does not have a vision will not be able to survive in the long run. You must have a vision statement to set specific objectives for your organisation. This is important as your whole organisation works together to meet those objectives. They are mainly developed keeping employees in mind as they must understand the goals and aim of your organisation and work towards achieving them.
Difference Between Vision and Mission Statement
To understand vision and mission statements better, we have listed the key differences between them:
- While a vision statement focuses on the future position of an organisation, a mission statement will talk about the purpose, business, and approach to reach the goal.
- Depending on the company, mission statements may change if needed. However, a vision statement does not change and will stay the same till the organisation survives.
- The vision statement reflects the organisation’s future goals and aspirations, while the mission statement talks about the organisation’s main purpose.
- Mission statements are normally longer than vision statements.
Also read: Market Research Guide
Vision and Mission Statement Examples
Below, we have listed four vision and mission statements so that you get an idea of how to develop the perfect statements for your organisation.
1. Carter’s Inc
Mission Statement: “We believe that childhood is a celebration, and the colourful prints and cute characters we design are inspired by the joy and love children bring into our lives. We celebrate childhood by supporting babies, children, and families with thoughtful designs, quality materials and construction, and convenient shopping options. You can count on Carter’s to take care of the little details so that you are free to focus on what matters: celebrating your little one – and the hugs, cuddles, giggles, and babbles that light up our lives.”
Vision statement: Our vision statement encompasses our values and beliefs. We strive to conduct our business in a manner that reflects this vision: “At Carter’s, we embrace creative leadership, innovative teamwork, and a winning spirit to be the best for the benefit of our customers, our consumers, our employees, and our shareholders.”
2. NAMI (National Alliance on Mental Illness)
Mission Statement: “NAMI provides advocacy, education, support, and public awareness so that all individuals and families affected by mental illness can build better lives. To meet that goal, NAMI is building a movement. We seek to broaden public awareness and inclusion in every part of our alliance. We seek to increase our visibility and impact; strengthen our voice as a unified organization of lived experiences and maximize our outreach to and engagement with all communities.”
3. Tesla
Mission Statement: To create the most compelling car company of the 21st century by driving the world’s transition to electric vehicles.
Vision Statement: To accelerate the world’s transition to sustainable energy.
4. Nike
Mission Statement: Create groundbreaking sports innovations, make our products sustainably, build a creative and diverse global team, and make a positive impact in communities where we live and work.
Vision Statement: Bring inspiration and innovation to every athlete in the world.
5. Warby Parker
Mission Statement: Warby Parker was founded with a rebellious spirit and a lofty objective: To offer designer eyewear at a revolutionary price while leading the way for socially conscious businesses.
Vision Statement: We believe that buying glasses should be easy and fun. It should leave you happy and good-looking, with money in your pocket. We also believe that everyone has the right to see.
Conclusion
It is important to have vision and mission statements for your company as It is pivotal for the growth and survival of an organisation. Mission and vision statements are interrelated but not interchangeable as they serve different purposes. With social and economic changes happening currently, this is the right time for companies to relook their mission and vision statements to work towards achieving their goals.
