Mission and vision are both foundations of an organization’s purpose. These are the objectives of the organization that are communicated in written. Mission and vision are statements from the organization that bring out what an organization is set for, what is its purpose, its value and its future. A popular study by a consulting firm reports that 90% of the Fortune 500 firms surveyed issue some form of mission and vision.
A Mission Statement defines the company’s goals, ethics, culture, and norms for decision- making. They are often longer than vision statements. Sometimes mission statements also include a summation of the firm’s values. Values are the beliefs of an individual or group, and in this case the organization, in which they are emotionally invested.