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semester 1 solved assignments MB0038 Q1. Describe the concept of vision in an organisation with an example. How is it different from mission statement?

Answer: An aspirational description of what an organization would like to achieve or accomplish in the mid-term or long-term future. It is intended to serves as a clear guide for choosing current and future courses of action.

Vision Statement Creation
Once you've created your mission statement, move on to create your vision statement:
·         First identify your organization's mission. Then uncover the real, human value in that mission.
·         Next, identify what you, your customers and other stakeholders will value most about how
your organization will achieve this mission. Distil these into the values that your organization has or should have.
·         Combine your mission and values, and polish the words until you have a vision statement inspiring enough to energize and motivate people inside and outside your organization.
Mission Statement and Vision Statement
A Mission statement talks about HOW you will get to where you want to be. Defines the purpose and primary objectives related to your customer needs and team values.           
A Vision statement outlines where you want to be. Communicates both the purpose and values of your business
Mission statement answers the question, “What do we do? What makes us different”. Vision statement answers the question, “Where do we aim to be?”
A mission statement talks about the present leading to its future.     A vision statement talks about your future.
Mission statement lists the broad goals for which the organization is formed. Its prime function is internal, to define the key measure or measures of the organization's success and its prime audience is the leadership team and stockholders. Vision statement lists where you see yourself some years from now. It inspires you to give your best. It shapes your understanding of why are you working here.

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