June 10, 2020
Your business requires both a mission statement and a vision statement to enable you to achieve your goals and objectives.

However, much like the difference between goals and objectives, your company mission and vision are not the same thing. Both serve very different purposes and you need both in order to succeed.


WHAT IS A MISSION STATEMENT?

A mission statement describes what a company wants to do now. It concentrates on the present. It defines your customer and critical processes, and it informs you about the desired level of performance.

It should answer the following questions:
  • What does your company do today?
  • Who are you doing it for?
  • What is the benefit?
Effective mission statement examples should identify:
  • What are the purpose and values of your organisation?
  • What business area or sector do you want to be in (products or services, market)? Who are your primary clients or stakeholders?
  • What are your responsibilities toward these clients?
  • What are the main objectives that support the organisation in accomplishing its mission?
It should be clearly articulated, dynamic, arouse visual images, and inspire action and support.


WHAT IS A VISION STATEMENT?

A vision statement outlines what a company wants to be in the future. It focuses on the future and is a source of inspiration and motivation. Often it describes not just the future of your organisation but the future of your industry.

It should answer the following questions:
  • What do we want to do going forward?
  • When do we want to do it?
  • How do we want to do it?
Effective vision statement examples should:
  • be clear and unambiguous
  • paint a compelling and bright picture
  • use memorable and engaging language
  • have realistic and achievable aspirations
  • align with your values and culture
  • have clear timelines for achieving any goal or objective.


MISSION AND VISION STATEMENT EXAMPLES

Here are a few examples to demonstrate the difference between mission and vision statements:

Company: Tesla

Mission: ‘To accelerate the world’s transition to sustainable energy.’

Vision: ‘To create the most compelling car company of the 21st century by driving the world’s transition to electric vehicles.’

Company: LinkedIn

Mission: ‘To connect the world’s professionals to make them more productive and successful.’

Vision: ‘To create economic opportunity for every member of the global workforce.’

Company: Uber

Mission: ‘Uber’s mission is to bring transportation — for everyone, everywhere.’

Vision: ‘Smarter transportation with fewer cars and greater access. Transportation that’s safer, cheaper, and more reliable; transportation that creates more job opportunities and higher incomes for drivers.’

This article was originally published on Business Australia and can be viewed here.