Final answer:
A mission statement outlines what an organization does, while a vision statement outlines what the organization wants. Both statements are important for organizations as they communicate purpose and direction.
Step-by-step explanation:
A mission statement outlines what an organization does, while a vision statement outlines what the organization wants. It is important for organizations to have both statements as they help communicate the purpose and direction of the organization.
A mission statement defines the core purpose of the organization, including its products or services, target audience, and values. It explains why the organization exists and what it aims to achieve.
A vision statement, on the other hand, describes the desired future state of the organization. It sets ambitious goals and inspires employees and stakeholders to work towards a common vision.