A vision statement highlights what an organization wishes to achieve in the long run, usually five to ten years, but occasionally even longer. It illustrates a future vision for the organization and establishes a clear path for the planning and implementation of corporate-level strategies.
A vision statement can be used to describe a whole organization or a specific section within that organization. The vision statement, whether for the entire business or just a portion of it, answers, “Where do we want to go?” Your vision statement will have a significant impact on your decision-making process and resource allocation once you have one.
Your business strategy will be guided by a vision statement. Small firms, in particular, benefit from having one because poor planning is one of the leading causes of failure. One of the trademarks of a strong corporate leader, on the other hand, is the ability to construct and convey a vision.
The vision statement of a corporation also serves as a focal point for the marketing department. Marketing campaigns and communications can be compared to the vision statement to guarantee that the marketing is heading on the right path.
Characteristics of a good vision statement:
- It’s concise, making it simple for leadersand managersto explain and remember.
- It describesthe organization’s desired outcome far enough into the future.
- It should bring the organization together and establish a stable, long-term goal.
- It motivates people by establishing a desirable goal.
- It should give a wide overview of why the organization exists, but avoid making too broad statements.