The difference between a company's mission statement and the concept of a strategic vision is that
A) the mission explains why it is essential to make a profit, whereas the strategic vision explains how the company will be a moneymaker.
B) a mission statement typically concerns a company's present business scope and purpose whereas a strategic vision sets forth "where we are going and why."
C) a mission deals with how to please customers whereas a strategic vision deals with how to please shareholders.
D) a mission statement deals with "where we are headed " whereas a strategic vision provides the critical answer to "how will we get there?"
E) 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?"

Question

Quizplus · Accepted Answer

A company's mission statement explains the present business scope and purpose, while a strategic vision sets the future direction and goals of the company. Option A and C are incorrect as they do not accurately distinguish between mission statement and strategic vision. Option D is partially correct, but only describes the role of strategic vision and not the mission statement. Option E is also partially correct, but it does not cover the entire scope of mission and strategic vision.

The Difference Between a Company's Mission Statement and the Concept