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mission statement and vision statement

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'A mission, simply put, is why a company exists. A vision is where a company would like to be in the future. Goals are milestones or measurables that a company attempts to reach. Strategies are the methods and plans used to obtain goals.

Mission statements can be very specific or very broad. For example, "Profitable growth through superior customer service, innovation, quality and commitment or, "Applied Materials' mission is to be the leading supplier of semiconductor fabrication solutions worldwide-through innovation and enhancement of customer productivity with systems and service solutions." Both of the examples are Fortune 500 companies with one taking a very broad approach, AGCO, while the other specifies the mission all the way down to the products they are producing, Applied Materials.

These four aspects of business are the foundations for any company and all affect the strategic planning process. All plans must be in line with the mission and vision statements, or the statements should be changed. Goals are set in accordance with the strategy and plans are made in an attempt to reach the goals.'

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My name is Liz - your Online Teaching Assistant from BrainMass. Here are my comments:

You are correct that the mission statement is why the company exists. The vision is where they want to go. To be able to achieve the mission and vision - there are strategic goals put into place. The strategic plan to get to those goals needs to be in place too.

Some companies formulate their mission statement and vision statement so that they can create what goals they want. Other ...

Solution Summary

All plans must be in line with the mission and vision statements, or the statements should be changed. Goals are set in accordance with the strategy and plans are made in an attempt to reach the goals.

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