The distinction between a company mission statement and a strategic vision is that a mission statement addresses "how we are trying to make a profit today" while a strategic vision concerns "how will we make money in the markets of tomorrow?" a mission statement deals with "where we are headed " whereas a strategic vision provides the critical answer to "how will we get there?" a mission statement deals with what to accomplish on behalf of shareholders and a strategic vision concerns what to accomplish in outcompeting rivals. a mission statement typically describes a company's present business scope and purpose ("who we are, what we do, and why we are here") whereas the principal concern of a strategic vision is with a company's future strategic course ("the direction we are headed and what market positions we intend to stake out"). a company's mission concerns what needs to be done to earn a good profit, whereas the strategic vision concerns management's views and conclusions about what strategy changes will be needed in the years just ahead for the company to help accomplish its mission of earning a good profit.

Business
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