A vision statement concisely expresses what a company wants to become and accomplish while a mission statement explains what the company does to achieve it. In simple words, the first one focuses on the future while the second one focuses on the present. A powerful vision statement needs a strong and clear mission statement. These two often go hand in hand and provide a high-level sense of direction for a company. For employees, a strong vision guides teams to work on what matters most for their company and promotes a purpose-driven business approach.