Contents
What’s it: A vision statement is a written statement about what your company will be in the future. Some experts describe it as a future position your company wants or dreams of. It is an integral part of strategic planning because it becomes the framework for determining what your company should do to achieve it. In addition, it serves as a guide for day-to-day decisions within your company.
A vision statement is often juxtaposed with a mission statement. Vision describes the desired future that you, as the owner, aspire to. Then, you break it down into the overall goals of the organization. In other words, a vision is about what the future will look like if your company achieves the mission you built.
Why a vision statement matters
Vision is important because you will try to develop various ways to make it happen. Here are reasons to explain why vision is important to your company:
Directions guide. Your company’s vision shows where it should go. When you know where to go, you can decide what to do and prepare.
Motivation. Knowing the direction to take motivates and inspires the people in your company. It unites them to realize the vision you build jointly.
Priority. Strategic planning requires a vision and mission. It helps the management in your company set priorities, design strategies, and allocate resources. That way, they ensure resources are directed and working towards achieving common goals and objectives.
Contribution. Having a good vision directs your employees on how they can contribute. You break down the company’s vision into various objectives, including strategic, tactical, and operational objectives. By breaking it down into objectives, you tell your employees how they should contribute and, for managers, guide them in allocating resources effectively.
Harmonization. Vision helps align resources, activities, and decisions made within the company. Departments or divisions synergize with each other to achieve the vision.
Vision statement vs. mission statement
A vision describes what your company wants to achieve and its desired position in the future. It’s about dreaming for your company, not for customers, partners, or shareholders. It is about your company’s dreams, goals, and values. It was designed to be as concise as possible but meaningful.
A mission statement states what your company’s business is and why your company exists. It explains your company’s goals and provides the context in which the strategy is formulated. It identifies the scope of your company’s operations, particularly concerning the products you offer and the markets your company serves.
The mission you develop supports the vision you have developed. It communicates your business’s goals and direction to stakeholders and tells the world what your company does and how to do it.
Finally, the company’s vision is enduring, rarely changing, even if the business environment has changed. It may be valid for a period of up to ten years or sometimes even longer.
Meanwhile, the company’s mission may change along with the dynamics in the business environment in which your company operates. That’s because the mission talks about customers, products, markets, technology, and company image.
How to write a vision statement
An effective vision statement serves as a north star for your company, guiding its future direction and igniting passion among stakeholders. Writing a vision statement that effectively captures your company’s aspirations requires careful consideration of several key elements.
Characteristics of a good vision statement
The following three criteria are important in making a good vision statement:
Imaginative. Visions are often abstract and imaginative, but you can achieve them. It is not bound by details because, indeed, it is sometimes difficult to describe it clearly with current resources or capabilities. It’s beyond what it is now, though that doesn’t mean it’s impossible to achieve.
Brevity. A good vision statement should be short, simple, clear, business-specific, and forward-looking. About 35 words are ideal; some may consist of 2-3 sentences. On the other side, if it’s too long, it makes it difficult to communicate effectively.
Focus on the future. Vision describes what your company will look like in the future. It offers a long-term perspective and is unlikely to be affected by market or technological changes. In other words, it rarely changes.
Developing your vision statement
A strong vision statement can craft a guiding force that propels your company forward, ignites passion within your team, and inspires stakeholders to contribute to the collective journey toward achieving your company’s aspirations.
Brainstorming Session: Gather a diverse group of stakeholders, including leadership and employees from various departments. Collectively brainstorm ideas that capture the essence of your company’s values, goals, and desired future state.
Encourage participation from all levels to gain a well-rounded perspective. Imagine this as a collaborative tapestry being woven, where each thread represents a unique voice contributing to the overall vision.
Refine and Refocus: Once you have a pool of ideas, refine them into a concise and clear statement. Ensure the statement accurately reflects the core of your company’s identity and aspirations.
During this phase, ruthlessly cut unnecessary jargon or overly ambitious phrases that may not be achievable. Focus on capturing the essence of what the company aspires to be in a way that is easy to understand and resonates with the audience.
Communication and Feedback: Share the draft vision statement with a wider audience for feedback. This could include employees, customers, and partners. Consider their perspectives and incorporate valuable insights to strengthen the statement’s impact.
Imagine this as a validation process, where the draft vision statement is tested against the perceptions of those who will be most impacted by it. By incorporating their feedback, you can ensure the final statement resonates with and inspires the entire company ecosystem.
Examples of vision
In the following, I present some examples of vision statements from the world’s major corporations. I took it from the comparably.com site:
- Amazon: “to be earth’s most customer-centric company; to build a place where people can come to find and discover anything they might want to buy online.”
- Google: “To provide access to the world’s information in one click”
- Microsoft: “To help people and businesses throughout the world realize their full potential.”
- Nike: “We see a world where everybody is an athlete — united in the joy of movement. Driven by our passion for sport and our instinct for innovation, we aim to bring inspiration to every athlete in the world and to make sport a daily habit.”
- Starbucks: “To establish Starbucks as the premier purveyor of the finest coffee in the world while maintaining our uncompromising principles while we grow.”
- Toyota: “To be the most respected and successful enterprise, delight customers with a wide range of products and solutions in the automobile industry with the best people and the best technology.”
- Walmart: “Be the destination for customers to save money, no matter how they want to shop”
