From a Quality perspective, what is the difference between Mission Statement & Vision Statement ?

Answer 1

A mission statement is a brief description of a company’s fundamental purpose. A mission statement answers the question, “Why do we exist?” The mission statement articulates the company’s purpose both for those in the organization and for the public. All mission statements will “broadly describe an organization's present capabilities, customer focus, activities, and business makeup.”

A vision statement is sometimes called a picture of your company in the future but it’s so much more than that. Your vision statement is your inspiration, the framework for all your strategic planning. A vision statement may apply to an entire company or to a single division of that company. Whether for all or part of an organization, the vision statement answers the question, “Where do we want to go?”

What you are doing when creating a vision statement is articulating your dreams and hopes for your business. It reminds you of what you are trying to build. While a vision statement doesn’t tell you how you’re going to get there, it does set the direction for your business planning. That’s why it’s important when crafting a vision statement to let your imagination go and dare to dream – and why it’s important that a vision statement captures your passion.

Unlike the mission statement, a vision statement is for you and the other members of your company, not for your customers or clients. Another difference between a mission statement and a vision statement is that a mission statement focuses on a company’s present state while a vision statement focuses on a company’s future.

Answer 2

I never heard of a Vision Statement, but logically speaking, it's where you think or would like the company to grow or which direction it would like to take.
A mission statement, tells about the company and it's culture. It's usually a "feel good", warm fuzzy feeling about the company.