Strategic Management: Formulation and Implementation

Mission And Vision

A vision and a mission can be one and the same. But vision and mission are not fully overlapping concepts. Vision refers to a future state,

"a condition that is better... than what now exists," whereas mission more normally refers to the present" (Warren Bennis and Burt Nanus )

A vision is, therefore more associated with a goal whereas a mission is more associated with a way of behaving.

The importance of creating a future vision for the company is underscored by Warren Bennis and Burt Nanus in their book, Leaders: The Strategies for Taking Charge. Based on 90 interview with successful business leaders, the authors found that the sine qua non of successful leadership is the ability to create a compelling image of the future:

When the organization has a clear sense of its purpose, direction, and desired future state, individuals are able to find own roles in the organization and the larger society of which they are part...

The critical point is that a vision articulates a view of a realistic, credible,a attractive future for the organization, a condition that is better in some important ways that now exists (Warren Bennis and Burt Nanus ).