As noted in the Management Structure Guide (2021), mission and vision statements, specifying the core structure on which the organizational edifice stands and to help in the translation of objectives into actionable cost, performance, and time related measures. They also provide a philosophy of existence to the employees, which is very crucial because as humans, we need meaning from the work to do and the vision and mission statements provide the necessary meaning for working in a particular organization. Hence, articulate, coherent, and meaningful vision and mission statements go a long way in setting the base performance and actionable parameters and embody the spirit of the organization.