A vision statement differs from a mission statement in that it includes both the purpose of the company as well as the basis of competition and competitive advantage.

Question

Quizplus · Accepted Answer

A vision statement outlines what a company wants to be in the future, focusing on its goals and aspirations, while a mission statement describes the company's current purpose, including its target market, how it meets their needs, and its primary products or services. The basis of competition and competitive advantage are typically not included in the vision statement but might be addressed in the mission statement or other strategic documents.

A Vision Statement Differs from a Mission Statement in That