Answered step by step
Verified Expert Solution
Question
1 Approved Answer
The difference between the concept of a company mission statement and the concept of a strategic vision is that a mission statement deals with what
The difference between the concept of a company mission statement and the concept of a strategic vision is that
a mission statement deals with what to accomplish on behalf of both customers and shareholders and a strategic vision concerns what strategy to employ in order to outcompete rivals.
a mission statement deals with "where we are headed whereas astrategic vision provides the critical answer to "how will we get there?"
a mission statement typically concerns a company's present business scope and purpose who we are, what we do and why we are here" whereas the principal concern of a strategic vision is with the company's future direction and "where we are going." a mission concerns what to do to achieve shortrun objectives and a strategic vision concerns what to do to achieve longrun performance targets.
the mission is all about making a profit and which measures of profitability the company will focus on whereas a strategic vision concerns what business model to employ in operating profitably.By
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started