Differentiate between the mission statement and vision statement of a company.

The mission statement is a more current description of an

organization's purpose, basic goals, and philosophies. The vision

statement sets the long$-$term objective of a company and tells

where the company is headed.

The mission statement is directed toward employees. The vision

statement is directed toward customers.

The mission statement sets the long$-$term objective of a company

and tells where the company is headed. The vision statement lets

employees understand the core values of the company for which

they work.

The mission statement is stated in the first step of the strategic

planning process. The vision statement is stated later on in the

strategic planning process.