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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.

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Mission Statement/ Vision Statement

In the Session Long Project of MGT599, we will create a "strategic toolkit" which, once assembled, will allow you to undertake strategic planning and implementation projects in any organization. Upon successful completion of the Module 1 SLP, you will be able to use your SLP to assess the mission and vision statements of any company. The goal of the SLP is one of skill-building—that is, in each module we will focus on developing a skill for a different phase of the strategy-making process. Throughout this course, you should complete the SLP before you complete the Case. However, before you begin to address the SLP assignments, read the Background materials thoroughly.
Required Reading
Welch, J., & Welch, S. (2008). State your business: Too many mission statements are loaded with fatheaded jargon. Play it straight. Businessweek, 4066 (80). Retrieved on November 6, 2012, from http://www.businessweek.com/stories/2008-01-02/state-your-business
Session Long Project
In this module, you will be learning what constitutes good mission and vision statements. You will also be developing a list of criteria for evaluating such statements. You will then use these criteria to evaluate a corporate vision and mission statement in the Case. Finally, you will be comparing your two lists for commonalities and differences.
Keys to the Assignment
The key aspects of this assignment that you must cover in your 3- to 4-page paper are:
• Step One: Read the Background materials and conduct additional research about writing mission and vision statements. You may rely solely on the websites in the Background materials or supplement them if you wish. You will find that there are a great many opinions on what constitutes a "good" mission statement. Your job is to identify five criteria that you believe are crucial to devising good mission statements.
• Step Two: Research the Background websites dedicated to writing vision statements. Again, you may supplement them if you wish. Identify five criteria you think are critical to good vision statements.
• Step Three: In a 3- to 4-page paper:
o List the five criteria you have chosen for mission and vision statements (i.e., five each). This can be a bulleted list.
o Justify your choices. Explain why you think each individual criterion is important.
o Critically compare the commonalities and differences between your two lists. Be sure that you address this requirement with appropriate depth.
o Be sure to have introduction at the beginning of paper and a conclusion at the end

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