Business Plan Project Workbook

Chapter 4: Vision and Mission Statements

Chapter Summaries

The vision statement and the mission statement communicate the firm’s beliefs and goals. The vision statement is a declaration that states the scope and purpose of the company. The mission statement is a declaration that expresses the specific aspirations of a company. Both serve as a powerful guide for future decisions and actions. In addition, these statements serve as one of the primary vehicles for communicating to stakeholders. These statements should focus on customer needs and not on a particular product or service.