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Surname 1Name:Institution:Course:Date:Business Policy and Strategy1. Discuss, in detail, the differences between vision and mission.A mission statement is a brief explanation for the existence of a particular organizationwhiles the vision statement projects and creates an image of what the organization wishes toachieve (SHRM, 2018). The mission statement states the purpose, and the vision statement statesthe dream. The mission answers why? while the vision answers what?, The missionstatement is quite short and assists in achieving the vision statement which is long. The work ofthe mission is to inform the internal and external environment while the visions work is toinspire and help the stakeholders to focus on the outcome. Most importantly, the missionindicates the root and initialization of the business while the vision indicates the future of thebusiness.2. Name and explain each of the three classes of stakeholders in an organizationStakeholders in business are individuals, groups or parties that have an interest in itsoperations and the outcomes (NFI, n.d). They can be discussed in three classes which include.Primary stakeholdersThese are indi ...


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