What do mission and vision statements have to do with economics?

The mission statement is related to economics because it states the central economic goal of idea behind a company or organization. For a firm to achieve its mission statement, it must make a rational use of scarce resources, which is what economics is fundamentally about.

The vision statement is related to economics because it requires some form of economic planning, as the vision relates to the future the firm wants to position itself in, and in order to do so, it must make a rational present and future use of the resources that it has available.

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