IIBF Strategic Management & Innovations Practice Questions - IIBF Certificate In Strategic Management And Innovations In Banking Exam

A vision describes the bank's current business activities and target customer segments, while a mission outlines the bank's long-term aspirations and future destination. A vision is formulated by junior management to set short-term targets, while a mission is formulated by the board of directors for compliance purposes. A vision outlines where the bank wants to go in the future, while a mission explains the bank's current purpose, core values, and reasons for existence. A vision is focused solely on financial profitability metrics, while a mission is focused entirely on corporate social responsibility and community activities.