Advanced Strategic

Management

VISION AND MISSION

April 03, 2024

ABUBAKER
ID-15854
 DIFFERENCE BETWEEN VISION AND MISSION STATEMENT

Vision Statement: Vision statement defines the goals the company has for the
future, what the company wants to become and how it will achieve those goals.

Mission Statement: Mission statement defines the organization’s business, its

objectives, and how it will reach these objectives.

Difference: The primary difference between a vision statement and a mission

statement is the time the statement focuses on. A mission statement focuses
on the present and a vision statement focuses on the future, in short, where
you are in this moment versus where you’re going.

Some of the key differences are as follows:

 Purpose: Mission and vision statements are closely related but serve
slightly different purposes. In general, a mission statement describes the
“what” and “how” of the company (sometimes also including the “why”),
while a vision statement focuses more on the “why” or meaning behind the
company’s actions.
 Timeframe: Mission statement outlines all the things your company is
doing in the present to reach your goal, while a vision statement describes
what your company is building toward in the future.
 Audience: Mission statements are public-facing statements primarily
geared toward consumers. Whereas, vision statements are typically more
focused on employees of the company to help drive their work in the best
direction for the future.

EXAMPLES

PAKISTAN STATE OIL (PSO)

Vision Statement: “We enrich lives around the world just as we do in our
country”.

Mission Statement: “To leverage our strengths to grow, diversify, and build
value”.
 NISHAT MILLS LIMITED
Vision Statement: “To be and remain industry lead by safeguarding
stakeholders’ interest, serving community and playing a meaningful role in the
economy of Pakistan”.

Mission Statement: “To increase financial returns by pursuing sustainable

business, producing the best quality products, and providing excellent customer
services while adopting best practices”.

HABIB BANK LIMITED

Vision Statement: “Enabling people to advance with confidence and success”.

Mission Statement: “To make our customers prosper, our staff excel and create
value for shareholders”.

DG CEMENT
Vision Statement: “To transform the Company into a modern and dynamic
cement manufacturing company with qualified professionals and fully equipped
to play a meaningful role on a sustainable basis in the economy of Pakistan”.

Mission Statement: “To provide quality products to customers and explore new
markets to promote/expand sales of the Company through good governance and
foster a sound and dynamic team, so as to achieve optimum prices of products of
the Company for sustainable and equitable growth and prosperity of the
Company”.

ENGRO CORPORATION
Vision Statement: “To be the premier Pakistani enterprise with a global reach,
passionately pursuing value creation for all stakeholders”.

Mission Statement: “Unlocking Pakistan’s potential through globally

competitive, inclusive solutions to today’s most pressing issues”.