A mission statement defines an organization's core purpose and objectives, outlining what it does and how it achieves its goals. A vision statement, on the other hand, articulates a company's aspirational future, describing where it hopes to be in the long term.

In simpler terms:

• Mission: What we do now, the core of our business, and how we achieve it.
• Vision: Where we want to be in the future, the grand ambitions of the company.

Key differences:

• Timeframe: Mission is focused on the present, while vision looks towards the future.
• Specificity: Mission is often more specific and measurable, while vision can be broader and more aspirational.
• Focus: Mission focuses on the work the company does, while vision focuses on the desired outcome or impact.