Mission and vision statements serve as vital tools for conveying an organization’s purpose and values to key stakeholders, including employees, customers, stakeholders, suppliers, and governments.

These statements are widely circulated and regularly discussed to ensure broad understanding, shared values, and internalization. By distilling the mission into a vision, a strategic target is established. The relationship between mission, vision, and strategy can be visualized as a funnel, with the mission as the broadest input, leading to a focused vision, which guides the development of a clear and explicit strategy. Vision statements act as a bridge between mission and strategy, creating a tension that fosters continuous innovation and improvement.