B2B
B2B
0303
Problem
What is the difference between vision and mission?
Step-by-step solution
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Step 1/2
For the business to operate in the global business environment, strategic planning is relevant. The strategic planning process begins with an understanding of the business and its environment as a whole. It focuses on reaching the objectives of the organization and becoming competitive.
Step 2/2
The difference between vision and mission has been discussed as follows:
Vision: The vision of an organization reflects the management’s perception or view of the organization and its function. Vision makes the objectives and characteristics of the organization very clear to the stakeholders of the organization. It is not mandatory that an organization should possess a clear vision.
Mission: The mission highlights the reason for which the organization exists or the purpose of the organization. A well-defined mission is necessary for an organization, unlike a vision. It is a written formal document that reflects corporate values, purposes, and reasons for the operations of the organization.