Final answer:
The vision statement is meant to set a long-term goal and direction for a company, not to describe the strategy to achieve it, which is addressed by the mission statement and strategic planning.
Step-by-step explanation:
The statement that 'The vision statement describes the strategy a firm will use to follow its vision along with a description of why they exist' is false. A vision statement is a company's road map, indicating what the company wants to become by setting a defined direction for the company's growth. However, it does not include the specific strategies for achieving that vision. The strategy aspect comes into play through the company's mission statement and strategic planning. The vision statement is rather a declaration of the company's long-term goals, what it hopes to fulfill, or the desired future state it aims to achieve. Typically, it's meant to inspire and give direction to the company's employees rather than detailing the strategic methods for accomplishing these goals. On the other hand, the mission statement often highlights the purpose of the company, why it exists, and how it will reach its goals.