Vision statement on:
[Wikipedia]
[Google]
[Amazon]
A vision statement is an inspirational statement of an idealistic emotional future of a company or group. Vision describes the basic human emotion that a founder intends to be experienced by the people the organization interacts with. The Infinite Game
Vision statements may fill the following functions for a company:
* Serve as foundations for a broader
A vision statement is an inspirational statement of an idealistic emotional future of a company or group. Vision describes the basic human emotion that a founder intends to be experienced by the people the organization interacts with. The Infinite Game
Vision statements may fill the following functions for a company:
* Serve as foundations for a broader strategic plan
Strategic planning is an organization's process of defining its strategy or direction, and making decisions on allocating its resources to attain strategic goals.
It may also extend to control mechanisms for guiding the implementation of the s ...
.
* Motivate existing employees and attract potential employees by clearly categorizing the company's goals and attracting like-minded individuals.
* Focus company efforts and facilitate the creation of core competencies
A core competency is a concept in management theory introduced by C. K. Prahalad and Gary Hamel.Prahalad, C.K. and Hamel, G. (1990)The core competence of the corporation", Harvard Business Review (v. 68, no. 3) pp. 79–91. It can be define ...
by directing the company to only focus on strategic opportunities that advance the company's vision.
* Help companies differentiate from competitors.
A consensus does not exist on the characteristics of a "good" or "bad" vision statement. Commonly cited traits include:
* concise: able to be easily remembered and repeated
* clear: defines a prime goal
A goal is an idea of the future or desired result that a person or a group of people envision, plan and commit to achieve. People endeavour to reach goals within a finite time by setting deadlines.
A goal is roughly similar to a purpose or ...
* Time horizon: defines a time horizon
* future-oriented: describes where the company is going rather than the current state
* stable: offers a long-term perspective and is unlikely to be impacted by market or technology changes
* challenging: not something that can be easily met and discarded
* abstract: general enough to encompass all of the organization's interests and strategic direction
* inspiring: motivates employees and is something that employees view as desirable
See also
*Strategic planning
Strategic planning is an organization's process of defining its strategy or direction, and making decisions on allocating its resources to attain strategic goals.
It may also extend to control mechanisms for guiding the implementation of the s ...
* Mission statement
A mission statement is a short statement of why an organization exists, what its overall goal is, the goal of its operations: what kind of product or service it provides, its primary customers or market, and its geographical region of operatio ...
* Strategy Markup Language
{{primary sources, date=April 2017
Strategy Markup Language (StratML) is an XML-based standard vocabulary and schema for the information commonly contained in strategic and performance plans and reports. StratML Part 1 specifies the elements of st ...
References
{{Reflist , 30em Business terms Statements Strategic management