What is the difference between mission and vision in business?

What is the difference between mission and vision in business?

The mission statement defines a company's purpose and primary objectives, while the vision statement outlines what the company aspires to achieve in the future.

Can you give me examples of mission and vision statements?

Sure! For example, Google's mission is "to organize the world's information and make it universally accessible and useful," while their vision is "to provide access to the world's information in one click."

Why are both mission and vision important for a business?

Both are crucial as they guide the company's strategy, inspire employees, and communicate the company's values and goals to stakeholders.

How often should a business revisit its mission and vision statements?

It's advisable to review them every few years or when significant changes occur in the market or within the company.