What should vision and mission statements encompass?

What will be an ideal response?

Vision and mission statements express a firm's identity and inform both managers and employees of the firm's
direction. Together they convey organizational identity and purpose to critical stakeholders both inside and outside
the firm. Vision statements express long-term action horizons and are designed to challenge external competitors
and question the internal status quo. The ambiguity of vision statements enables organizational flexibility for
changing strategy or implementation when change is necessary to realize the organizational goals.
A firm can use its mission statement to identify core concepts such as purpose, values and beliefs, standards of
behavior, and corporate-level aims. It will enable all employees to internalize core ideals and use these to guide
their decisions and actions.