Means and Ends
People often mix up the ideas of a solution and an answer. A solution is the way you get to an answer, like a journey to reach a goal. Answers are usually short and to the point, but solutions are detailed plans to achieve that goal. In business, this is similar to Vision and Mission. A vision is the ultimate goal a company wants to achieve. The mission is the plan and actions taken to reach that goal. When the mission is completed, the vision is achieved.
If a company has a good vision and mission, it can become a role model in its industry. To be respected, a company's goals (vision) and the way it achieves them (mission) should be both ethical and practical. This means doing the right thing in a sensible way. By following these principles, a business can set a good example for others to follow.
By CA L.Muralidharan and CPA L.Mukundan
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