Creating vision and mission statements are two important components of any business. Though they are often combined to provide a statement of the company’s purpose or values, they have two distinct purposes.

What is a Vision statement 

The Vision defines the ideals and aspiration for the business; it helps steer the energies of company personnel in a common direction. Look at the vision statement as the big picture and inspiration behind why the organization exists.

What is a mission statement

While the vision describes the future course of a business, the Mission statement defines the present state or purpose of an organization. Your mission statement will describe how your organization plans to address its’ vision.

Example

To better understand the concept of vision and mission statements, let’s compare the vision and mission statements of Target and Walmart.

Walmart Vision- “To be the best retailer in the hearts and minds of consumers and employees”

Walmart Mission- “Saving people money so they can live better

Vs.

Target Mission and Vision- “To make Target the preferred shopping destination for our guests by delivering outstanding value, continuous innovation and an exceptional guest experience by consistently fulfilling our Expect More. Pay Less. brand promise.

Walmart has two distinctly defined statements for both vision and mission compared to Target who has combined both statements to provide an overall agenda for their company. Walmart includes their consumers and employees in their vision, which shows their dedication to both, whereas Target’s vision solely focuses on their customers. On the other hand, Target clearly states the path in which they plan to pursue their vision via their mission statement. Walmart’s mission lacks depth and resembles a slogan.

How to create a mission statement

How to create a vision statement

Combine mission and vision statement