Why Your Company’s Vision Statement Matters

  • by Pat
  • 9 Months ago
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vision statement

There is a reason why some organizations are more successful than others. A lot of success depends on the industry, competitors and employee talent. Yet another ingredient that contributes to success is having leadership craft a good end-game. In other words, set a clear direction for the company’s future. Such clear direction is called the vision statement. It’s aligned with the company’s core values. It’s a key motivating tool. And it’s a rallying point moving the company forward.

A vision statement defines what the company wants to become and achieve. It can be quite simple. Consider Ikea which states, “Our vision is to create a better everyday life for many people.” Nike’s vision statement is “To be the number one athletic company in the world.” And Ford motor company’s vision statement reads, “To become the world’s leading consumer company for automotive products and services

An organization’s vision statement offers direction for all business development. Goals should be set based on the vision for the future trajectory of the company. A well-crafted vision statement provides essential guidance about how the culture, embracing its core values, can ensure positive productive future progress. True success comes from employee buy-in with the company’s vision. Want to change the world? Use the vision to inspire your workers to innovate and strive for a purpose bigger than themselves.

If you want to revise a vision statement, start by reviewing your company’s current mission statement. Does it still reflect who the company is and why the company exists? Does it still embody the core values and guiding principles? If not, time to edit the statement and make it more accurate. Then craft the vision statement to describe what the company wants to become long term, in the future. It should be a goal that employees and customers believe.

A company’s vision statement becomes the guiding star to which every function of the business needs to be aligned. Annual goals are crafted to keep the company moving forward to the vision. The vision statement is a useful tool for sustaining the business’ healthy existence in a competitive world.

When dealing with vision statements, reality sets in. Businesses are complex and the future is vague. Setting direction allows the leader to consider what resources need to be accumulated to attain that vision. Use it to inform the company’s strategic direction and set operating priorities. And lastly, a vision statement should be broad enough to accommodate opportunities that arise, because visioning is a process, not an output. Vision statements are useful in inspiring innovation within the workforce so that new products and services can be offered to maintain a competitive advantage.

The best vision statements are concise, focused, clear and memorable. If you would like help crafting or revising a vision statement for your business, drop us a line at StrategicPeopleSolutions.com. We’ll set up a discovery conversation to help you build a business to work brilliantly.

Read Why Your Company’s Vision Statement Matters  and the other informative articles in this issue of Soar to Success magazine.

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