This document discusses the importance of vision and mission statements for organizations. It provides definitions for vision and mission statements, noting that the vision looks to the future while the mission defines the current purpose. An effective vision statement aligns stakeholder interests and shows where the organization wants to be in the future. An effective mission statement should be broad in scope, generate strategic alternatives, share responsibility, and consider input from stakeholders. It differentiates the organization and defines who it serves, what markets it targets, and its philosophy and values. Strategists play a key role in developing, evaluating, and revising vision and mission statements.