A Mission Statement defines the company's business, its objectives and its approach to reach those objectives. A Vision Statement describes the desired future position of the company. Elements of Mission and Vision Statements are often combined to provide a
statement of the company's purposes, goals and values
A mission statement is intended to clarify the 'what' and 'who' of a company , while a vision statement adds the 'why' and 'how' as well. As a company grows, its objectives and goals may change. Therefore, vision statements should be revised as needed to reflect the changing business culture as goals are met
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