Dear All,
Typically I try to keep my posts complete within themselves. However, this is a long subject. Therefore, I recommend you to refer Vision vs. Mission statement page in my portal Business Intelligence and Performance Management.
Essentially, there is a lot of confusion between Vision vs. Mission statements and also on what is a good vision or mission statement and what is not so good. We have tried to provide the clear distinction between the two terms and what are some imperatives for long-lasting Mission and Vision statements.