While vision and mission statements are often used interchangeably, they serve distinct purposes. A vision describes where an organization wants to be in the future, focusing on opportunities rather than today's problems. It inspires and guides. In contrast, a mission statement defines an organization's goals and priorities for the present, outlining how the vision will be achieved. It should be concise and clarify the primary objective of increasing stakeholder value for shareholders, employees, and customers. Together, vision and mission provide direction, motivation, and focus to take an organization to its future aspirations.