Based in Sydney, Raja is a law student enrolled in a Bachelor of Laws and Bachelor of Communications (Writing and Publishing) at the University of Technology Sydney. He is passionate about transferring knowledge in relation to businesses, legal advice and marketing direction. Raja has experience working in immigration law and is driven by the writing, editing and publishing process of content.
Written by
Raja Abbas
Reviewed by
Introduction
Mission statements vs vision statements, what are the differences? Mission and vision statements are important components of a business’s strategic plan as they provide a clear sense of direction and purpose. Whilst both statements are similar and slightly overlap, they are ultimately distinguishable by their aim and purpose for the business. Both mission and vision statements are used by companies worldwide to grant customers trust in their operations and goals. This article will assist you in finding out the differences between these two statements alongside examples to assist you.
Table of Contents
Defining Mission Statements
A mission statement defines what the company does and what their mission is. A mission statement lays out the business’s operations and the mission they aim to fulfil whilst operating. Mission statements answer the question “Why do we exist?” and assist stakeholders in understanding what the business stands for and what their key function is.
Defining Vision Statements
Vision statements define what the company aspires to do and achieve in the operation. Vision statements serve as a guide for what the business wants to look like in the future and what they aspire to achieve in the future.
Do you want to start your own website?
Mission Statements vs Vision Statements: What Are The Differences?
Mission statements are framed around the present, that being, what the business is actually driven by. Mission statements answer the question “Why do we exist?” and assists stakeholders to align themselves with the business’s values and purpose. Mission statements determine why the business exists and what their fundamental purpose of operations is.
Vision statements, however, set out what the business intends to do and where it is heading. Vision statements define where the business wants to be in the future and what they are driven to achieve. Vision statements provide the future direction the business intends to head into and guide employees by laying out the foundation for what future success should look like.
Mission and Vision Statements: Building Consumer Trust
Whilst mission and vision statements are different, they overlap in the sense that they build consumer trust. These statements do not only act as a framework for business operations and internal stakeholders but are posted publicly for consumers to view. The statements are demonstrated to clients and are readily available online through the business’s website or social media. In response, enabling clients to view the business’s purpose and goals and building consumer trust in the process.
Mission vs Vision Statements: Examples
Below are some examples of mission and vision statements well-known businesses have.
McDonalds
Mission Statement: Our mission to make delicious feel-good moments easy for everyone.
Vision Statement: To move with velocity to drive profitable growth and become an even better McDonald’s serving more customers delicious food each day around the world.
IKEA
Mission Statement: To offer a wide range of well-designed, functional home furnishing products at prices so low that as many people as possible will be able to afford them.
Vision Statement: To create a better everyday life for the many people.
Starbucks
Mission Statement: To inspire and nurture the human spirit – one person, one cup and one neighbourhood at a time.
Vision Statement: To establish Starbucks as the premier purveyor of the finest coffee in the world, while managing our uncompromising principles while we grow.
Tesla
Mission Statement: To create the most compelling car company of the 21st century by driving the world’s transition to electric vehicles.
Vision Statement: To accelerate the world’s transition to sustainable energy.
Conclusion
To conclude, mission and vision statements are used for two different purposes but overlap in some ways. Mission statements provide the business’s purpose, whilst vision statements provide what the business wants to achieve in the future. Both statements create trust within consumers in response to developing trust in the business’s operations and goals.
Don't know where to start?
Contact us on 1800 529 728 to learn more about customising legal documents, obtaining a fixed-fee quote from our network of 600+ expert lawyers or to get answers to your legal questions.
