A vision statement is a high-level,[1] inspirational[1] 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.[2][circular reference][3][circular reference][4]
Vision statements may fill the following functions for a company:[5]
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 by directing the company to only focus on strategic opportunities that advance the company's vision.
Help companies differentiate from competitors.[6]
Characteristics
A consensus does not exist on the characteristics of a "good" or "bad" vision statement. Commonly cited traits include:[7]
concise:[1] able to be easily remembered and repeated
clear: defines a prime goal[6]
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:[1] motivates employees and is something that employees view as desirable
^"Chapter 8. Developing a Strategic Plan | Section 2. Proclaiming Your Dream: Developing Vision and Mission Statements | Main Section | Community Tool Box". ctb.ku.edu. Retrieved 2024-06-25.
^Lipton, Mark (Summer 1996). "Demystifying the Development of an Organizational Vision" (PDF download). Sloan Management Review. 37 (4): 83. Retrieved 2019-11-25.
^ a bProject Management Institute 2021, Glossary §3 Definitions.
^Kantabutra, Sooksan; Avery, Gayle (2010). "The power of vision: statements that resonate" (PDF). Journal of Business Strategy. 31 (1): 37–45. doi:10.1108/02756661011012769.
References
Project Management Institute (2021). A guide to the project management body of knowledge (PMBOK guide). Project Management Institute (7th ed.). Newtown Square, PA. ISBN 978-1-62825-664-2.{{cite book}}: CS1 maint: location missing publisher (link)
