ENTREPRENEURSHIP

Detailed explanation-1: -A Mission Statement is a definition of the company’s business, who it serves, what it does, its objectives, and its approach to reaching those objectives. A Vision Statement is a description of the desired future state of the company. An effective vision inspires the team, showing them how success will look and feel.

Detailed explanation-2: -Your business plan should include your vision, mission and values statements. These important elements will help you describe the personality and goals of your business to investors or lenders, potential partners and employees. These statements usually stay the same over the life of your business.

Detailed explanation-3: -A company’s mission statement defines its culture, values, ethics, fundamental goals, and agenda. Furthermore, it defines how each of these applies to the company’s stakeholders-its employees, distributors, suppliers, shareholders, and the community at large.

Detailed explanation-4: -A business vision is your goal for what your business will be in the future. It will align with your business goals and aspirations. Your business vision is the formal way of communicating your business goals and commitments to others.