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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]
- Serve as foundations for a broader strategic plan.
- 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]
- ^ a b Project Management Institute 2021, §4.6.1 Strategy Artifacts.
- ^ Start with Why
- ^ The Infinite Game
- ^ "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.
- ^ Project Management Institute 2021, Glossary §3 Definitions.