Mission and vision serve distinct roles in defining an organization's purpose and aspirations.
* Mission:
* Defines the organization's purpose, target audience, and core activities.
* Answers: "Who are we, what do we do, and why do we exist?"
* Example: "To deliver affordable healthcare services to underserved communities."
* Vision:
* Articulates an aspirational future state and the broader impact the organization seeks to achieve.
* Answers: "What do we aspire to become and why does it matter?"
* Example: "To be the global leader in innovative and inclusive healthcare solutions."
* Why Other Options Are Incorrect:
* A: Both mission and vision extend beyond financial targets.
* C: Mission and vision are not distinguished solely by timeframe.
* D: Both mission and vision address internal and external stakeholders.
References:
* Corporate Strategy Frameworks: Discusses mission and vision as complementary elements of strategic planning.
* Balanced Scorecard: Highlights mission and vision alignment in organizational strategy.