Business Operation Training - Research Paper Example

In essence, a vision statement indicates the future of the company while a mission statement demonstrates ways of achieving a predetermined future. A vision statement answers the questions ‘what,’ when,’ and ‘why’ whereas a mission statement answers the questions ‘how’ and the impact (Sabrautzki, 2010).  Henry Ford Health System has a simple vision statement that has one aim, which is to enhance the health of people. Its mission statements provide avenues through which the organization will achieve its vision.

It entails transforming individual health of people in order to improve the overall health of society. On the other hand, The Coca-Cola Company has vision and mission statements that are more elaborate. In essence, the Coca-Cola Company has three objectives in its mission statement that will fulfill vision, which revolves around stakeholder satisfaction, high productivity, and betterment of the world. Fundamentally, the vision statements of the two companies are geared towards enhancing the lives of people across the globe although the Coca-Cola Company has a vision statement that transcends beyond its boundaries.

Both business strategy and business model enable an organization to formulate the best ways of working towards its goals in order to gain competitive advantage in the market. Although they sound, the same, the two business terms differ in their applications and purpose. For example, the main purpose of a business strategy is to ensure that an organization achieves its long-term plans. On the other hand, a business model has the sole purpose of generating revenue for an organization and making sure that its profitability continues to rise (Mathur, Mathur, S.

& Kenyon, 2012). Unlike a business model that is concerned with profitability issues, a business strategy deals majorly with the key resource issues. For example, an organization can adopt a strategy that will enable it to expand through the establishment of a new