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What is the 'vision statement' and 'mission statement'?

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The mission statement of a business or organisation is what they do. For example, Google's mission statement is 'To organize the world's information and make it universally accessible and useful'.
The vision statement is what the business is aiming to become. For example, Google's vision statement is 'To develop a perfect search engine' (2011).
The confusion between the two is understandable as they are very similar, but there is a small difference.
If you are looking for any more business terms, look at:
The Related Link below. They are a reliable source to learn the definition of business terms and phrases.
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