A vision statement expresses a company’s main goal for the future while a mission statement concisely explains how that goal will be achieved. The two often appear together with a company’s values, providing a high-level sense of its purpose, direction and culture.
Vision and mission statements are typically short and go unchanged for long periods of time, though they may evolve in line with a company’s changing strategic direction.
Research has found companies with clear vision and mission statements outperform those without them because they provide a benchmark for measuring performance and a target for all people within an organization to work toward. This makes vision and mission statements key to a performance management system.
More about vision and mission statements
The following is an example of a vision and mission statement for ABC Co.
A world where everyone has the widgets they need.
To manufacture and deliver the best quality, most innovative widgets to customers in all markets, on time and for less than our competitors.