Businesses often have both vision statements and mission statements. There are similarities between the two, but they are also rather different. Let us look at the major differences between vision and mission.
In general, the major difference between these two has to do with the time period that is covered. Mission has to do with the present and the near future. By contrast, vision has to do with the future.
Relatedly, these ideas cover different ideas. Mission, being more immediate, is more concerned with how things are to be done and how goals are to be achieved. It has to do with what a company needs to do in the short term. Vision, being oriented to the future, is concerned with what goals should be pursued in the future.
Mission is about what the company is now. It has to do with how the company accomplishes its short term goals and what sets the company apart from its competitors. Vision is about the company in the future. It has to do with where the company wants to go and what it wants to become.