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mission and vision statements

What is the difference between mission and vision statements? What factors need to be considered to produce an appropriate mission statement and vision statement for an organization?

What is strategic planning? What is the purpose of strategic planning? Why is it necessary? What are the components of a strategic plan? Which component is the most important? Why?

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The response addresses the queries posted in 1126 words with references.
//The 'Mission' and 'Vision' are the two different aspects of a Business Organization. The concept of both the statements is in favor of the organization, but has a different view. This can be understood with discussion included in the given content.//

Difference between Mission and Vision Statements:

There is a wide difference between company's mission and vision statements. A vision statement is defined as an expressed, promoting declaration of what the organization would ultimately like to become and desires to attain, whereas; the mission statement shows what the organization is choosing to implement. Vision statement mainly reflects the plan for future, while on the other hand; mission statement is the company's objective, which generally depicts skills, customers', functions, etc of the organization (Wheeler & Hunger, 2004).

The statement of vision reflects future ambitions that contribute to an inspiration to be the best in one's field of activity (Ward1, 2009), while; statement of mission is derived from a peculiar set of tasks that are called upon to be executed in the light of their individual priorities. Vision Statements specify the purpose of the organization in terms of the values, instead of bottom line standard, while' mission statement specifies the primary targets & purposes of the organization. To characterize the central steps of the organization's success is its prime function. Vision Statement centers on future condition, whereas; mission statements concentrate on present condition (Ward2, 2009).

//Above we discussed about difference between Mission and Vision Statements. As per directions, now we will talk about the vital factors that need to be considered, in order to formulate an effective mission and vision statement of an Organization. If you want, you can add more in this matter. I am just furnishing you an overview, so that you can understand this. //

Factors considered in Mission Statement:

Mission statement ...

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The response addresses the queries posted in 1126 words with references.